DISTRICT CODE: 450101 STATE AID 2005-06
DISTRICT NAME: ALBION DATE: AUG 23, 2008
EDITION NO. 2757
DISTRICT LAST UPDATED ON 08/22/08
NOTE: DATA DISPLAYED ARE PROJECTED EXPENSES FOR 06-07 AID
BUILDING AID OUTPUT REPORT (BLD-EST) PAGE 1
PART I: AIDABLE BUILDING AID EXPENSES FOR 2006-07 AID
______________________________________________________
A. CAPITAL OUTLAY EXPENSES
1. NOT USED
2. NOT USED
B. AIDABLE DEBT SERVICE EXPENSE FOR 2006-07 AID
3. 2006-07 ASSUMED DEBT SERVICE: RETRO* 426,281
4. 2006-07 ASSUMED DEBT SERVICE: RETRO, REORG INCENTIVE
ELIGIBLE 0
5. 2006-07 CONTINUING DEBT SERVICE FOR WAIVERED BOND
ISSUES* 0
6. 2006-07 CONTINUING DEBT SERVICE FOR WAIVERED BOND
ISSUES, REORG INCENTIVE EIGIBLE 0
7. 2006-07 ASSUMED DEBT SERVICE: PROSPECTIVE** 0
8. 2006-07 ASSUMED DEBT SERVICE: PROSPECTIVE, REORG
INCENTIVE ELIGIBLE 0
9. 2006-07 ASSUMED AMORTIZATION FOR CAPITAL OUTLAYS
INCURRED AFTER 6/30/02 FOR PROJECTS APPROVED BEFORE
7/1/02 0
10. 2006-07 ASSUMED AMORTIZATION FOR CAPITAL OUTLAYS
INCURRED AFTER 6/30/02 FOR PROJECTS APPROVED BEFORE
7/1/02, REORG INCENTIVE ELIGIBLE 0
11. 2005-06 ASSUMED DEBT SERVICE: PROSPECTIVE EXPENSE FOR
THE INITIAL 2006-07 AID PAYMENT IN JULY 2006*** 0
12. 2005-06 ASSUMED DEBT SERVICE: PROSPECTIVE EXPENSE FOR
THE INITIAL 2006-07 AID PAYMENT IN JULY 2006, REORG
INCENTIVE ELIGIBLE 0
13. 2004-05 ASSUMED DEBT SERVICE: PROSPECTIVE EXPENSE FOR
THE INITIAL 2006-07 AID PAYMENT IN JULY 2006**** 0
14. 2004-05 ASSUMED DEBT SERVICE: PROSPECTIVE EXPENSE FOR
THE INITIAL 2006-07 AID PAYMENT IN JULY 2006, REORG
INCENTIVE ELIGIBLE 0
CLICK HERE FOR 0506 ASSUMED AMORTIZATION CAPITAL OUTLAY DETAILS
*PURSUANT TO CHAPTER 383 OF THE LAWS OF 2001, ASSUMED DEBT
SERVICE FOR PROJECTS APPROVED BY 12/1/01 WITH OUTSTANDING
PRINCIPAL AS OF 7/1/02.
CLICK HERE FOR BOND LEVEL INFORMATION
**PURSUANT TO CHAPTER 383 OF THE LAWS OF 2001, ASSUMED DEBT
SERVICE FOR PROJECTS APPROVED ON OR AFTER 12/1/01, OR WITH
OBLIGATIONS FIRST ISSUED ON OR AFTER 12/1/01.
PLEASE NOTE THAT THE 2006-07 ASSUMED DEBT SERVICE PROSPECTIVE
AMOUNTS INCLUDE PROJECTS APPROVED PRIOR TO JANUARY 1, 2006
WITHOUT NOTIFICATION OF SIGNED CONSTRUCTION CONTRACTS TO SED.
THIS ALLOWS THE 2006-07 BUILDING AID PROJECTIONS TO INCLUDE
ALL THE PROJECTS THAT MIGHT POTENTIALLY GENERATE 2006-07 DEBT
SERVICE PAYMENTS. THE INITIAL DEBT SERVICE PAYMENT FOR THESE
PROJECTS WITHOUT SIGNED CONTRACTS WAS ASSUMED TO OCCUR 18
MONTHS AFTER THE COMMISSIONER'S APPROVAL DATE. THEREFORE, THE
CURRENT PROJECTION METHOD ASSUMES THAT THE CONTRACTS FOR ALL
PROJECTS DESCRIBED ABOVE HAVE ALREADY BEEN SIGNED OR WILL BE
SIGNED BY JUNE 30, 2007. HOWEVER, PURSUANT TO THE LAWS OF
2006, TO BE ELIGIBLE TO RECEIVE AID IN 2006-07 THE PROJECT
HAD TO HAVE A NOTIFICATION OF A SIGNED CONSTRUCTION CONTRACT
ON FILE WITH THE DEPARTMENT BY THE FEBRUARY 2006 DATABASE.
CLICK HERE FOR PROSPECTIVE PROJECT INFORMATION
***PURSUANT TO CHAPTER 57 OF THE LAWS OF 2005 REGARDING THE 2005-06
ASSUMED DEBT SERVICE: PROSPECTIVE EXPENSE FOR THE INITIAL 2006-07
AID PAYMENT IN JULY 2006 ARE EXPENSES FOR BUILDING PROJECTS WITH
COMMISSIONER APPROVAL BY 12/31/04 AND NOTIFICATION OF A SIGNED
CONSTRUCTION CONTRACT AWARD LETTER ON FILE WITH THE DEPARTMENT
AFTER 2/15/05. PROJECTS ELIGIBLE FOR THE DEFERRED PAYMENT WITH
SIGNED CONTRACTS ON FILE BY MAY 2006 WILL RECEIVE A PAYMENT IN
JULY 2006. HOWEVER, PURSUANT TO THE LAWS OF 2006, TO BE ELIGIBLE
TO RECEIVE AN INITIAL 2006-07 AID PAYMENT IN JULY 2006 THESE
PROJECTS HAD TO HAVE A NOTIFICATION OF A SIGNED CONSTRUCTION
CONTRACT ON FILE WITH THE DEPARTMENT BY THE FEBRUARY 2006 DATABASE
****PURSUANT TO CHAPTER 57 OF THE LAWS OF 2005 REGARDING THE 2004-05
ASSUMED DEBT SERVICE: PROSPECTIVE EXPENSES FOR THE INITIAL 2006-07
AID PAYMENT IN JULY 2006 ARE EXPENSES FOR BUILDING PROJECTS WITH
COMMISSIONER APPROVAL BY 12/31/03 AND NOTIFICATION OF A SIGNED
CONSTRUCTION CONTRACT AWARD ON FILE WITH THE DEPARTMENT AFTER
2/15/05 AND BEFORE 7/1/05.
C. AIDABLE EXPENSE ASSOCIATED WITH THE COST OF REFINANCING EXISTING
DEBT WITH PRINCIPAL OUTSTANDING AS OF 6/30/02
15. 2006-07 ASSUMED DEBT SERVICE FOR FIXED COST OF
REFINANCING 0
16. 2006-07 ASSUMED DEBT SERVICE FOR STATE SHARE OF
VARIABLE COSTS 0
17. 2006-07 ASSUMED DEBT SERVICE FOR STATE SHARE OF
ADDITIONAL PRINCIPAL 0
18. TOTAL ASSUMED DEBT SERVICE FOR STATE SHARE OF THE
BONDED COSTS OF REFINANCING (100% REIMBURSED)
(ENT 15 + ENT 16 + ENT 17) 0
19. 2006-07 ASSUMED DEBT SERVICE FOR LOCAL SHARE OF THE
VARIABLE COSTS OF REFINANCING 0
20. 2006-07 ASSUMED DEBT SERVICE FOR LOCAL SHARE OF THE
VARIABLE COSTS OF REFINANCING, REORG INCENTIVE
ELIGIBLE 0
21. 2005-06 TOTAL FEES AND CHARGES NOT PAID FROM THE
PROCEEDS OF REFUNDING BONDS
(E.G., PAID FROM CASH OUTLAY) (100% REIMBURSED) 0
CLICK HERE FOR BOND LEVEL INFORMATION
D. LEASE EXPENSE
NOTE: LEASES APPROVED ON OR AFTER 7/1/98 ARE ONLY ELIGIBLE
FOR THE 10% INCENTIVE IF THEY ARE FOR A TERM OF MORE THAN
5 YEARS.
22. 2006-07 LEASE EXPENSE 0
23. 2006-07 LEASE EXPENSE, REORG INCENTIVE ELIGIBLE 0
PLEASE NOTE:
THE INFORMATION PRESENTED ON THIS OUTPUT REPORT PRESENTS THE COMBINED IMPACT
OF THE FORMULAS GOVERNING THE SPECIFIED AID CATEGORIES, AS SET FORTH IN BOTH
THE APPROPRIATIONS PROPOSED BY THE EXECUTIVE AND ENACTED BY THE LEGISLATURE
AND THE ADDITIONAL APPROPRIATIONS ENACTED AS PART OF THE 2005-06 STATE BUDGET.
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