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New York City Educational Construction Fund

New York City Educational Construction Fund*

Export
Fiscal
year
Rental
Revenue
Interest
Revenue
Total
Revenue
Debt Service
Operating
Expenses
Total to
be Covered
Coverage
Ratio
Interest
Principal
Total
2005
$
18,699
$
1,936
$
20,635
$
6,658
$
51,015
$
57,673
$
4,864
$
62,537
0.33
2006
22,011
2,860
24,871
6,544
3,010
9,554
5,756
15,310
1.62
2007
24,636
3,545
28,181
4,222
12,095
16,317
5,303
21,620
1.30
2008
19,056
4,722
23,778
4,727
13,665
18,392
5,635
24,027
0.99
2009
18,712
3,081
21,793
3,595
7,465
11,060
5,636
16,696
1.31
2010
18,436
1,078
19,514
2,498
6,135
8,633
4,627
13,260
1.47
2011
19,517
1,072
20,589
7,579
6,075
13,654
5,453
19,107
1.08

(*) The 2005A Bonds were issued on January 5, 2005 to refinance the 1994 Bonds.

The 2007A bonds were issued on January 18, 2007.

Capitalized interest of $1,037,000.00 was not included on interest expense for year 2009 for the 2007A Bonds.

The 2010A Bonds were issued on April 28, 2010 for capital purposes.

Capitalized interest of $1,969,000 was not included on interest expense for year 2010 for the 2007A Bonds and $289,000 was not included on interest expense for year 2010 for the 2010A Bonds.

The 2011A Bonds were issued on January 25, 2011 for capital purposes.

Capitalized interest of $1,936,000 was included on interest expense for year 2011 for the 2011 and 2010 Bonds.

Source: New York City Educational Construction Fund