Revenue Fund
Latest News
Revenue Fund Director's Meeting - May 17-18, 2012, MSU Moorhead, Comstock Memorial Union.
Revenue fund finance plan 2013. This link contains the projected revenue fund operating budget for FY2013. The documents form the basis for fees scheduled for approval at the Board of Trustees in May/June 2013.
2012 Revenue Fund Bond Authority Increase. On May 1, 2012, Gov. Dayton signed legislation that increased Revenue Fund bond authority from $300 million to $405 million.
Revenue Fund Calendar. Last posted May 8, 2012. This calendar contains the major events relating to the revenue fund for the short term (1-2 fiscal years).
Project Resources
Predesign Review for Non-Academic Facilities (Revenue Fund Projects) For sample template Requests for Proposal, review of other predesign documents or other questions regarding Revenue Fund predesigns, please contact Greg Ewig, 651.201.1775 (gregory.ewig@so.mnscu.edu)
Pro Forma Templates. Below are summary pro forma templates that should accompany any revenue fund project financial analysis.
Parking Facility
Residence Hall
Student Union
Wellness Center
Project Cost Sheet This project cost sheet is nearly identical to the one used for non-revenue fund projects, and is utilized during the entire project to summarize the costs by phase of the project.
Debt Service Estimator.
Use this template to calculate the estimated debt service your revenue fund financed project will cost. This is for estimating purposes only and will not reflect the precise amount of debt service, which is dependent on total project cost, bond interest rates, timing of bond sale and whether the campus defers interest for 1 or 2 years. This template includes the additional 11% required to reflect the bond closing costs, which include the last years debt service payment, underwriting, legal, rating agency fees and program management costs.
Webex: Setting up a Revenue Fund Project Presented January 25, 2011. Covers accounting set up for revenue fund financed projects, draw requests for construction, debt service, fund assessments.
Presentation: 2013 Revenue Fund Projects Kick Off
Webex: 2013 Revenue Fund Bond Projects, Kick Off Meeting Presented May 24, 2011. This webex is for those campuses that would like to be part of the 2013 revenue bond sale. The presentation will cover a bit of background on the fund, current and projected authority, the 2013 planned schedule and legislative strategy. A copy of the presentation PowerPoint (in pdf format) is linked below.
Webex: Revenue Fund 101
Introduction to the Revenue fund - Presented September 15, 2009. Covers the basics of the revenue fund, such as history, the roles and responsibilities of the parties, bond sale process, and ongoing reporting obligations.
Revenue Fund Procedure. The system procedure established June 2011 describes the requirements of revenue fund projects and accounting requirements.
Project Eligibility Requirements
- Available for both state universities and colleges
- Can be used to acquire, construct, complete, remodel, equip, operate, control, and manage facilities, such as:
- residence halls
- dining facilities
- student union buildings
- parking facilities
- Health/Wellness Centers
- and any other similar revenue-producing buildings of such type and character as the board finds necessary for the good and benefit of the state universities or colleges.
- Note: Academic and administrative buildings must use General Obligation bonds of the State of Minnesota.
Bond Sales (2002 - Current)
- Defeased (eliminated) debt of $28 million in June 2001
- $36 million in January 2002 - Refunding action in 2012 pending
- $45 million in October 2005
- $43 million in February 2007
- $41 million in June 2008
- $36 million in June 2009
- $87 million in February 2011 - Board of Trustees approves $87 million Revenue Bond Sale.
- $12 million in August 2011 - Board of Trustees approves $12.5 million for Normandale Community College Parking Ramp.
- $260 million worth of outstanding bonds (as of May 1, 2012)
REVENUE BOND AUTHORITY STATUS
$405 million - (2012)
$300 million (2010)
Revenue Fund Update presented January 2012
Revenue Fund Directors Meeting
- Agenda, October 27-28, 2011
- Agenda, March 24, 2011
- Minutes of the March 24, 2011 meeting
- Next Meeting Date: May 17-18, 2012 at MSU Moorhead
Student Associations
Minnesota Student Leadership Summit (MSCSA)
Overview of Capital Planning and Revenue Fund- presented October 22, 2010 at Leadership Summit in Bloomington, MN. Covered general description of Revenue Fund, capital planning and the FY2011 Bond sale.
Revenue Fund Advisory Committee
Agenda - November 23, 2010. St. Paul College.
Agenda- April 30, 2010
Revenue Fund Contacts
Gregory Ewig, Director, Capital Development, 651.201.1775
Heather Anderson, Revenue Fund Financial Manager, 651.201.1772
Jeff Stierlen, Revenue Fund Accounting Officer, 651.201.1740
