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Dave:
Here is some background to my bond analysis to provide context for our meeting.
We wanted to understand the exposure the OCFC faces if NURFC ceases to provide culture. To get this information, I
looked at the outstanding bond amounts allocated to NURFC three different ways:
1. Proportional,
2. First‐dollars, and
3. Straight‐line.
Here was the result, found in the two “Summary” tabs: NURFC‐ Bond Analysis (click to open). Incidentally, Tony thought
it might be worthwhile to develop this into a generic template to be used in the future analysis of other sponsors.
Finding this information useful, we wanted to look at some of the other high‐dollar / high‐risk projects, such as National
Aviation Hall of Fame and Schuster Performing Arts Center. Gathering the data has posed some challenges.
National Aviation Hall of Fame
For NAHF, I am running into difficulty tying the Appropriations to the Invoices to the Expenditures‐by‐Bond‐
Issuance figures. Looking at the “Invoices by Vendor” report, not all of the invoices show up. Thinking that
these were paid before the new system was in place, I looked at the actual, archived invoices. Adding the
missing invoices to the invoices found online, the totals exceed the appropriation amount.
My disconnect can be found on the “Invoices by Vendor” tab in the NAHF ‐ Bond Analysis (click to open). This is
basically what I need your help with in finding the correct data.
The other issue is that I can only account for 93% of the total expenditures (see “Exp by Bond Issue” tab) when I
look at the specific bond issuances (e.g., 2001A, 2003A, &c.). I suspect that the rest might have been in the
2004A issue, but not having a bring‐down file and not being able to show the date range of the expenditures, I
don’t know if I can make that assumption.
Schuster Performing Arts Center
For Schuster, I have the same sort of questions. So if I can find—with your help—the data for NAHF, I expect to
be able to replicate the process and find the data for Schuster.
I will bring the relevant print‐outs to our discussion tomorrow.
Thanks,
‐‐CB
Chris Bruner
Consultant
1
Ohio Cultural Facilities Commission
100 E. Broad Street, Suite 300
Columbus, OH 43215‐3661
Office: (614)752‐2774
E‐mail: cbruner@culture.ohio.gov
Website: http://culture.ohio.gov/