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<blockquote data-quote="BeeRBee" data-source="post: 896521" data-attributes="member: 1466"><p>There has been a lot of discussion in various threads about GTAA finances, and in particular the outstanding debt and the payments due in the near future. Some of this is based on outdated data, and rather than try to respond in multiple places I thought I'd start a new thread specifically on that topic to update this information. I have some additional thoughts which will have to wait on a deeper dive.</p><p></p><p>There was an article from From the Rumble Seat linked which included the following table:</p><p></p><p style="text-align: center">[ATTACH=full]13136[/ATTACH]</p><p></p><p>The article was from May 2020, and this table is from the FY 2019 Financial Statements, which was the most current at the time. (To be fair, it appears to still be the most current available on the GT Finance web site.) However, in October 2019 there was a new bond series issued (technically 2) which refinanced the two bullet payments due in 2020 and 2023 which largely drove the $30 million plus principal amounts and also refinanced additional portions of the existing debt. This issue also provided $10 million new financing for maintenance construction at Bobby Dodd, and $10 million for renovation of Russ Chandler.</p><p></p><p>The equivalent table from the 2021 Financial Statements, reflecting June 30, 2021 conditions is as follows:</p><p></p><p style="text-align: center">[ATTACH=full]13137[/ATTACH]</p><p></p><p>In addition, a $52 million bond series was issued in February 2022, which refunded additional amounts of the bonds issued in 2012, and refinanced some bank loans used to construct the golf practice facility and the ACC network facilities, as well as a small note due to the Alumni Association for construction of the Wardlaw building and Student Success center. There is only $1 million of new financing from this series which will be used for updates at the Coliseum Annex, which is the locker rooms and training facilities.</p><p></p><p>I'm not sure what the net affect of this refinancing will be on the short term cash flow requirements, but my thinking is that the required principal payments at least will be somewhat lower in the next 5 years.</p><p></p><p>I do have some thoughts gleaned from the notes to the financial statements about the overall effect of the debt, but as I said above that will wait on a deeper dive.</p></blockquote><p></p>
[QUOTE="BeeRBee, post: 896521, member: 1466"] There has been a lot of discussion in various threads about GTAA finances, and in particular the outstanding debt and the payments due in the near future. Some of this is based on outdated data, and rather than try to respond in multiple places I thought I'd start a new thread specifically on that topic to update this information. I have some additional thoughts which will have to wait on a deeper dive. There was an article from From the Rumble Seat linked which included the following table: [CENTER][ATTACH type="full"]13136[/ATTACH][/CENTER] The article was from May 2020, and this table is from the FY 2019 Financial Statements, which was the most current at the time. (To be fair, it appears to still be the most current available on the GT Finance web site.) However, in October 2019 there was a new bond series issued (technically 2) which refinanced the two bullet payments due in 2020 and 2023 which largely drove the $30 million plus principal amounts and also refinanced additional portions of the existing debt. This issue also provided $10 million new financing for maintenance construction at Bobby Dodd, and $10 million for renovation of Russ Chandler. The equivalent table from the 2021 Financial Statements, reflecting June 30, 2021 conditions is as follows: [CENTER][ATTACH type="full"]13137[/ATTACH][/CENTER] In addition, a $52 million bond series was issued in February 2022, which refunded additional amounts of the bonds issued in 2012, and refinanced some bank loans used to construct the golf practice facility and the ACC network facilities, as well as a small note due to the Alumni Association for construction of the Wardlaw building and Student Success center. There is only $1 million of new financing from this series which will be used for updates at the Coliseum Annex, which is the locker rooms and training facilities. I'm not sure what the net affect of this refinancing will be on the short term cash flow requirements, but my thinking is that the required principal payments at least will be somewhat lower in the next 5 years. I do have some thoughts gleaned from the notes to the financial statements about the overall effect of the debt, but as I said above that will wait on a deeper dive. [/QUOTE]
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