FT 03-04
ATTACHMENT C
TABLE 3
THE CALIFORNIA STATE UNIVERSITY HOUSING PROGRAM
2003/04 Centrally Paid Cost - Debt Service Transfers Summary
Campus
03/04 Old Debt Service
Principal Interest
Total
03/04 Series 2002-A Debt Service
Principal Interest
Total
03/04 Series 2003-A Debt Service
Principal Interest
Total
Total Debt
Service
Payments
Service
Payments
15% Reserve
03/04 Debt
Service
transfers
Service
transfers
Bakersfield
0
0
0
0
0
0
0
0
0
0
0
0
Chico
444,339
301,424
745,763
0
0
0
0
0
0
745,763
111,864
857,627
Dominguez Hills
350,000
489,700
839,700
0
0
0
0
0
0
839,700
125,955
965,655
Fresno
0
0
0
0
0
0
0
0
0
0
0
0
Fullerton
210,900
241,767
452,667
385,000
1,086,818
1,471,818
0
0
0
1,924,485
288,673
2,213,158
Hayward
159,100
182,386
341,486
0
0
0
0
0
0
341,486
51,223
392,709
Humboldt
484,502
551,571
1,036,073
0
0
0
0
0
0
1,036,073
155,411
1,191,484
Long Beach
837,179
561,479
1,398,658
0
0
0
0
0
0
1,398,658
209,799
1,608,457
Los Angeles
696,446
550,860
1,247,306
0
0
0
0
0
0
1,247,306
187,096
1,434,402
Northridge
1,976,919
2,507,446
4,484,365
0
0
0
0
0
0
4,484,365
672,655
5,157,020
Pomona
116,564
15,244
131,808
0
0
0
0
581,089
581,089
712,897
106,935
819,832
Sacramento
165,000
305,843
470,843
0
0
0
0
0
0
470,843
70,626
541,469
San Bernardino
190,000
663,209
853,209
290,000
824,441
1,114,441
0
0
0
1,967,650
295,148
2,262,798
San Diego
1,549,070
3,163,788
4,712,858
0
0
0
0
0
0
4,712,858
706,929
5,419,787
San Francisco
804,962
1,130,814
1,935,776
0
0
0
0
0
0
1,935,776
290,366
2,226,142
San Jose
295,418
66,225
361,643
0
0
0
0
0
0
361,643
54,246
415,889
San Luis Obispo
150,445
19,675
170,120
855,000
2,454,959
3,309,959
0
0
0
3,480,079
522,012
4,002,091
San Marcos
0
0
0
0
0
0
0
0
0
0
0
0
Sonoma
810,319
1,808,919
2,619,238
0
0
0
0
0
0
2,619,238
392,886
3,012,124
Stanislaus
0
0
0
0
0
0
0
0
0
0
0
0
Total
9,241,164
12,560,347
21,801,513
1,530,000
4,366,218
5,896,218
0
581,089
581,089
28,278,820
4,241,824
32,520,644
Net Income Coverage Calculation
Example:
If annual revenue = $15,000,000
and annual operating expense = $10,000,000
then, annual net income = $5,000,000
If annual debt service payment = $750,000
then, 15% reserve (of debt service payment) = $112,500
and annual debt service transfer = $862,500
Therefore, Net Income Coverage = $5,000,000/$750,000 = 6.67
Attachment C to AD NOAT 04-50