Indian Hills Community College had the numbers behind them upon passing a bond measure in November 2021. More than 12,000 voters in 17 Iowa counties gave their approval for a $28 million referendum designated to fund a brand new campus and additional major improvements. The bond, which needed 60% support to pass, cleared that hurdle with more than…

In this article, the author illustrates the application of a financial database called Bloomberg Professional in a fixed income lesson plan. Most business school programs include a finance course that covers bond pricing and spreads, such as a corporate finance or fixed income course. Bloomberg Professional allows students to interact with primary…

To get to yes, college leaders must amplify the college-community connection. While they are prohibited from campaigning, officials can provide information. As they do so, they build relationships that can benefit the college, community, and economy for years to come. But that requires more than tireless hours on the road. It requires a plan and…

With the onset of new public management, there is a shift in the methods of financing of higher education institutions across the countries of the world, particularly emerging market economies, from public financing to private financing of higher education. Many countries adopted this shift very quickly while others have moved towards a gradual…

California State University (CSU) is an engine of economic mobility for Californians, particularly those from historically underrepresented communities. The system's 23 campuses are also vital in helping the state meet labor market demands for highly educated workers. But despite annual funding increases, CSU has struggled to enroll all eligible…

This book focuses on the topic of the multiple-stakeholders that comprise the education community across the P-20 continuum. In various ways and forms, the authors of the chapters found within this book promote the importance of engaging with the diverse array of stakeholders in order to truly improve education in an increasingly interconnected…

Evidence of confusion in intermediate accounting textbooks regarding the annual percentage rate (APR) and annual effective rate (AER) is presented. The APR and AER are briefly discussed in the context of a note payable and correct formulas for computing each is provided. Representative examples of the types of confusion that we found is presented…

This White Paper presents the work of the Consortium for Higher Education Tax Reform, a partnership funded by the Bill & Melinda Gates Foundation as part of the second phase of its Reimagining Aid Design and Delivery (RADD) initiative. Consortium partners are the Center for Postsecondary and Economic Success at CLASP, the Education Trust, New…

By convention U.S. bond markets announce the actual price of a bond as the sum the quoted price plus accrued interest. The economic meaning of accrued interest and its role in this price announcing convention is generally misunderstood by accounting textbook authors who mistakenly provide accrued interest with both an economic and administrative…

No other city in the nation more clearly exemplifies the dramatically changing social, political, and economic landscape of America's urban centers than Houston. Houston has transformed from a bi-racial southern city on the bayou to one of the most ethnically and culturally diverse communities in the nation. Houston Independent School District…

This case, inspired by a real school district scenario, was developed for use in a graduate-level course in school finance. James Spencer had just been selected as the new superintendent of a low-income, 400-student, rural school district in need of many capital improvements. The previous superintendent had refused to hold a bond election because…

Having returned to teaching the basics of pricing fixed-income securities after several years, the author recalls the difficulty students have in understanding the total return provided by fixed-income securities that are purchased at either a discount or premium from face value. This teaching note attempts to clarify the concept by suggesting…

Nearly three years ago, in a span of just nine months, the North Harris Montgomery Community College District lost a bond referendum and its chancellor. Nine months later, the Houston-area district had a new leader, a new name, and a victorious bond issue. And this May--a year after the successful bond vote--the college bought an office complex…

The purpose of this study is to develop a costing model for maintenance and operations expenditures among 16 single-campus California community college districts and assess the impact of a variety of variables including size of student enrollment, physical plant age, acreage, gross square footage, and general obligation facility bonds on district…

Qualified school construction bonds (QSCBs) are part of the American Recovery and Reinvestment Act of 2009. These bonds allow school districts to finance capital projects at no or very low interest rates. In a nutshell, bondholders accept a lower interest rate because the corresponding federal tax credit they receive subsidizes that lower interest…