I always look at the yearly audit for ULM athletics. As you all know the audits from the state shows how much debt the athletic department has and how much is owed on each bond or loan. As of June 30, 2021 the ULM athletics owe $5,000,000 give or take a few dollars. This June the debt will be down to around $4,200,000. June of 2023 down to $3,260,000.
The question is how much do we borrow to start a building campaign. If my numbers are correct, we can borrow $18,000,000. Part of the $18M will be remaining debt rolled into the note. Finance the note/bond for 22 years, once again if my numbers are correct the yearly note would be $1,100,000. We pay about $975,000 yearly on existing debt. Minus the leftover debt we would have around $15M to build with at no increase in yearly debt payments.
The question is how much do we borrow to start a building campaign. If my numbers are correct, we can borrow $18,000,000. Part of the $18M will be remaining debt rolled into the note. Finance the note/bond for 22 years, once again if my numbers are correct the yearly note would be $1,100,000. We pay about $975,000 yearly on existing debt. Minus the leftover debt we would have around $15M to build with at no increase in yearly debt payments.
