Debt repayment schedule

18in32 said:
A significant portion of our endowment is restricted funds. The GTAA is not allowed (without getting court approval in a contested proceeding) to use those funds to pay down construction debt.

In my experience, people who give money like to do so when it seems like their gift will have positive lasting impact for a long time... the kind of thing that will be around long enough to need its own name. So endowed scholarships are popular because they're around indefinitely. Funding specific construction needs is popular because everyone sees your name on it and it'll be standing for decades, hopefully. What's not popular is paying for something that's already been built and is already old news.
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i have to do it all around here.

we take the annual debt, divide it by the number of stingtalk posters minus one.

that’s what we have to pay per year to keep van hayes from being unbanhammered.

we don’t meet our debt, he comes back.

solved, sugar bear.
 
gtg970g said:
The Institute also allows student athletes not on scholarship to pay in state tuition.
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I didn't know that.

Do you know if the Institute charges the GTAA in-state or out-of-state tuition for out-of-state scholarship athletes? I would've assumed the latter until I read your post.
 
18in32 said:
I didn't know that.

Do you know if the Institute charges the GTAA in-state or out-of-state tuition for out-of-state scholarship athletes? I would've assumed the latter until I read your post.
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I actually meant to say they charge in state tuition for scholarship athletes but I'm not sure if they do the same for non-scholarship athletes. It wouldn't surprise me if they did the same for non-scholarship athletes.
 
Doesn't the endowment belong to GT and therefore not GTAA (2 separate entities)? Does the GTAA have an endowment separate from GT.
 
ramblinwise1 said:
Doesn't the endowment belong to GT and therefore not GTAA (2 separate entities)? Does the GTAA have an endowment separate from GT.
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The Foundation manages $100 million of assets on behalf of the GTAA. The agreement stipulates that GTAA can redeem the assets with a six month notice. See note 9 on page 25 of Georgia Tech Foundation's financial report.

The Foundation has $2 billion of assets and $500 million of liabilities, including $100 million GTAA investment account. The book value of $1.5 billion includes $100 million in capital assets. So at least a $1.4 billion endowment.

http://www.gtf.gatech.edu/sites/default/files/images/gtf_audit_report_2017.pdf

While there is only a six month notice of redemption between GTF-GTAA, GTAA may have agreements with the ultimate donor precluding redemption. GTAA's financial statement didn't give details.
 
Allen Koholic said:
Anyone in here an accountant?

If I'm reading this sheet right, the 2011 and 2012 bond issuances were a result of restructuring some old debt (2001 & 2008), as well as building the McTit 2.0 + practice facility + Ken Byers Tennis Complex. That's not entirely on DRad then, right? I mean, öööö DRad, but still - over half of the lt debt seems like it was a result of the north stands construction project from 2001.

Current financial statement - http://www.fin-services.gatech.edu/sites/default/files/images/gtaa_final_financial_statements.pdf
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2001 Bond Issuance

The outstanding principal from a $22 million bond issuance that occurred in 1995 was rolled into a new bond issuance which financed reconstruction of Bobby Dodd Stadium (to include construction of the north end zone) and construction of Russ Chandler Stadium (baseball). The total amount of this bond issuance was $111,255,000.


I've always hated the BDS north end zone construction with a passion -what a horrible decision. It's an eyesore, sans UGA, Clemson, and Miami it's 2/3 empty, it will never be paid off.
 
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GT65_UGA89 said:
Guess the GTAA never $80K



2001 Bond Issuance

The outstanding principal from a $22 million bond issuance that occurred in 1995 was rolled into a new bond issuance which financed reconstruction of Bobby Dodd Stadium (to include construction of the north end zone) and construction of Russ Chandler Stadium (baseball). The total amount of this bond issuance was $111,255,000.


I've always hated the BDS north end zone construction with a passion -what a horrible decision. It's an eyesore, sans UGA, Clemson, and Miami it's 2/3 empty, it will never be paid off.
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You will live to see those stands full every week...
 
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