ERIC Number: ED460565
Record Type: Non-Journal
Publication Date: 1997-Nov
Reference Count: N/A
Illinois Educational Facilities Authority Annual Report for the Fiscal Year Ending June 30, 1996.
Illinois Educational Facilities Authority, Chicago.
The Illinois Educational Facilities Authority (IEFA) is a public instrumentality created to provide assistance to not-for-profit, private institutions of higher education. It does so by furnishing the means for such institutions to finance or refinance the construction or acquisition of educational facilities throughout the state. The 1996 annual report of the IEFA is presented here. The report provides information about the members of the authority, advisors to the authority, the creation and operation of the IEFA, and criteria for authority financing. It lists the institutions receiving financial assistance, the nature of the projects financed, and the amount of each financing. It also includes an auditor's report. For fiscal year 1996, the Authority provided assistance to 27 degree-granting, private, not-for-profit institutions of higher education and 15 private, not-for-profit institutions or museums engaged in cultural, scientific, or artistic enrichment of the state's population. This assistance consisted of providing these institutions access to tax-exempt financial markets through the issuance of revenue bonds. The Authority administered 65 bond issues, as well as 16 outstanding, defeased (off-balance sheet) bond issues. A synopsis of institutions receiving help is provided. Contains an IEFA balance sheet; a statement of revenues, expenses, and changes in fund equity; statement of cash flows; additional notes to financial statements; and a schedule of revenue bonds outstanding as of June 30, 1996. (RJM)
Descriptors: Annual Reports, Capital Outlay (for Fixed Assets), Educational Facilities, Educational Finance, Expenditures, Higher Education, State Aid
Illinois Educational Facilities Authority, 333 West Wacker Dr., Suite 2600, Chicago, IL 60606-1218.
Publication Type: Reports - Descriptive
Education Level: N/A
Authoring Institution: Illinois Educational Facilities Authority, Chicago.
Identifiers - Location: Illinois