(Harrisburg Area Community College Project), Series of 2016 Sta

LancasterHigherEducationAuthority,PA,CollegeRevenueBonds(HarrisburgArea
CommunityCollegeProject),Seriesof2016
EMMALink-issuer'smost
recentdisclosures
http://emma.msrb.org/IssueView/IssueDetails.aspx?id=ES362938
MostRecentODBUpdate
2/29/16
UseofProceeds
TheBondsarebeingissuedtorefundvariouscapitalimprovements.
BondsDated
Date:
7/19/16
TheBondsarelimitedobligationsoftheAuthority,payablesolelyfrom(i)paymentsreceivedfromtheCollege
undertheLoanAgreementandNotesand(ii)certainmoneysheldbytheTrusteeinfundsestablishedunder
theTrustIndenture.TheAuthorityandCollegewillenterintoaLoanAgreement,inwhichtheCollegeagrees
topaytheloaninsuchamountsandattimesaswillprovidesufficientfundstomeetdebtservice
requirementsoftheBonds.TheCollegewilldeliveritsPromissoryNotestoevidenceitsobligationunderthe
LoanAgreement,andtheNotesconstituteanunsecuredgeneralobligationoftheCollege.Investorsshould
refertotheofficialstatementforafulldescriptionofthesecurityfortheBonds.Theofficialstatementcanbe
obtainedusingtheEMMAlinkabove.
BondSecurity
CUSIPs
514328GC1
514328GD9
514328GE7
514328GF4
514328GG2
514328GH0
514328GJ6
514328GK3
514328GL1
514328GM9
514328GN7
514328GP2
514328GQ0
514328GR8
514328GS6
514328GT4
BAMInsured
PrincipalAmt
PaymentDate
4/1/17
4/1/18
4/1/19
4/1/20
4/1/21
4/1/22
4/1/23
4/1/24
4/1/25
4/1/26
4/1/27
4/1/28
4/1/29
4/1/31
4/1/33
4/1/36
Total
760,000.00
630,000.00
665,000.00
685,000.00
720,000.00
760,000.00
790,000.00
815,000.00
845,000.00
880,000.00
905,000.00
945,000.00
975,000.00
2,030,000.00
2,140,000.00
3,455,000.00
18,000,000.00
FirstOptional
Optional
YieldtoMaturity RedemptionDate RedemptionPrice
3.000%
4.000%
3.000%
5.000%
5.000%
4.000%
3.000%
4.000%
4.000%
3.000%
4.000%
4/1/26
100%
2.375%
4/1/26
100%
2.500%
4/1/26
100%
3.000%
4/1/26
100%
3.000%
4/1/26
100%
3.000%
4/1/26
100%
CUSIPidentifiershavebeenprovidedbyCUSIPGlobalServices,managedonbehalfoftheAmericanBankersAssociationbyStandard&Poor’sFinancialServices,LLC,andarenotforuseordisseminationinamanner
thatwouldserveasasubstituteforanyCUSIPservice.TheCUSIPDatabase,©2011AmericanBankersAssociation.“CUSIP”isaregisteredtrademarkoftheAmericanBankersAssociation.
PopulaYon/FullTimeEquivalent
Students
State,Local,&NaYonal
UnemploymentRate
Popula^on(le_)
FullTimeEquivalent
Students(right)
300,000
0.12
25,000
0.1
250,000
20,000
200,000
15,000
150,000
10,000
100,000
5,000
50,000
0
-
2000
2010
PopulationCAGR(2000-2013):
2011
2012
2013
0.08
Dauphin
County
0.06
PA
0.04
USA
0.02
0
2010
2011
2012
2013
0.6%
LIMITATIONSONUSE-SEEPAGE3
Page1of3
Issuer:
StatePublicSchoolBuildingAuthority
State:
PA
County:
Dauphin
EmploymentbyIndustry-2013
Sector:
Demographic&EconomicInformation
DauphinCounty
DauphinCounty
As%of
State
As%ofUS
6.9%
93.2%
93.2%
103.4%
101.9%
Asof:2013
Description
#ofPeople
Employed
%Total
Population
Government&GovernmentEnterprises
43,464
19.8%
UnemploymentRate
Healthcareandsocialassistance
30,143
13.7%
MedianHouseholdIncome
$54,066
Retailtrade
18,540
8.4%
MedianHousingValue
$158,880
Accommodationandfoodservices
14,370
6.5%
TotalFacultyEquivalents^^^
Financeandinsurance
14,252
6.5%
*Source:BureauofEconomicAnalysis
270,937
327
FullTimeEquivalentStudents^^^
15,878
^Asof2014
^^ForHarrisburgAreaCommunityCollege
ChangeinNetAssets
TotalDebt/FullTimeEquivalentStudents
8,000
9,000
6,000
8,000
4,000
7,000
2,000
6,000
0
5,000
($)
($000)
PublicHigher
Education
-2,000
4,000
-4,000
3,000
-6,000
2,000
-8,000
1,000
-10,000
0
2010
2011
2012
2013
2014
2010
RevenuesbySource
36%
25,000
2011
2012
2013
2014
FullTimeEquivalents(LeW-axis)andFaculty
Equivalents(Right-axis)
400
350
20,000
300
24%
250
15,000
200
10,000
FullTime
Equivalent
Students
(right)
150
100
Total
Faculty
Equivalents
(right)
5,000
26%
50
14%
NetTuiSonandFees
GrantsandContracts
OtherOperaSngRevenue
Non-OperaSngRevenue
LocationDescription:
0
0
2010
2011
2012
2013
2014
TheCollegeislocatedintheCityofHarrisburg,justnorthofthecentralbusinessdistrict.
LIMITATIONSONUSE-PLEASESEEPAGE3
Page2of3
HarrisburgAreaCommunityCollege,PA
DEMOGRAPHICS
2014
TotalFacultyEquivalents
2013
2012
2011
2010
327 328 370 365 347
FullTimeEquivalentStudents
15,878 16,664
1
MedianHousingValue($)
158,880
1
MedianHouseholdIncome($)
N/A
17,224
20,321
17,256
157,400
153,100
145,800
54,066 53,771
52,371
51,559
159,100
FINANCIALDATA($000)
FiscalYearEnd
AuditorOpinionDate
6/30/14
6/30/13
6/30/12
6/30/11
6/30/10
10/16/14
10/16/13
10/23/12
10/18/11
10/18/10
TotalAssets
284,270
286,780
272,006
230,612
228,903
TotalLiabilities
159,913
168,543
159,832
109,860
114,148
NetAssets
124,357
118,237
112,174
120,752
114,755
NetTuitionandFees
62,427
65,241
66,410
65,048
61,516
GrantsandContracts
46,197
49,255
46,547
131,811
120,299
OtherOperatingRevenue
24,875
24,325
25,240
24,013
24,553
Non-OperatingRevenue
42,590
42,130
43,667
46,992
46,904
TotalRevenue
176,089
180,951
181,864
267,864
253,272
OperatingExpenditures
173,354
178,810
195,109
267,445
252,686
TotalExpenditures
179,049
184,503
199,388
270,574
255,340
RevenuesOverExpenditures(Netoftransfers/adjustments)
6,121 6,063
(8,579) 5,997 6,518
TotalDirectDebt
134,214
127,247
PensionContributions
5,763 5,399 6,125 5,279 4,956
OPEBContributions
54
INCOMESTATEMENT($000)
DEBT&LIABILITYANALYSIS($000)
TotalContributiontoPension&OPEB/TotalExp
TotalDebt/FullTimeEquivalentStudents($)
142,603
86
71
82,638
77
89,035
55
3.2%
3.0%
3.1%
2.0%
2.0%
8,453
8,558
7,388
4,067
5,160
FINANCIALRATIOS
DaysCashonHand
73 57 85 80 80
AveragePaymentPeriod
54 57 63 35 36
NOTES
1
Representspriorcensusyear,forDauphinCounty.
LIMITATIONSONUSE
TheinformationcontainedintheObligorDisclosureBriefsisforinformationalpurposesonly.Theinformationisnotintendedasanoffertosellorasolicitationofanoffertobuyanysecuritiesand
shouldnotbeusedorconsideredassuchunderanycircumstances.Theinformationshouldnotberelieduponandisnotasubstitutefortheskill,judgmentorexperienceoftheuser,itsmanagement,
employees,advisorsand/orclientswhenmakinginvestmentdecisions.BAMdoesnotactasafiduciaryorinvestmentadvisor.
Theinformationhasbeenobtainedfromvariouspublicsources:BAMdoesnotrepresentthatitisaccurate,timelyorcomplete,anditshouldnotberelieduponassuch.BAMassumesnoobligation
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withoutlimitation,anyimpliedwarrantyofmerchantabilityorfitnessforaparticularpurpose,ortheinvestmentresultstobeobtainedbyanypersonorentityusingtheinformation.Innoeventwill
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