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 Credit Ratios 

 

SPOTLIGHT

ACTION 
The University will maintain credit-worthiness ratios within acceptable national benchmark standards.  The standard is no material weaknesses in internal controls and an unqualified audit opinion (zero problems). (FA)

BASELINE 
1. Credit-worthiness ratio was .019.  The threshold standard that has emerged from bond analysts and rating agencies is 10 percent or less. The institution is in a positive position as it compares to the standard. (2003)
2. Closed the 2002-03 fiscal year under a new auditing firm with no material weaknesses in internal controls and a clean unqualified audit opinion. The audits were conducted using applicable Sarbanes Oxley Act requirements.
(2003)

UPDATE 
1 The credit-worthiness ratio was .019. (2004)
2 The institution received an unqualified opinion and no material weakness comments as it pertains to internal controls.
(2004)

UPDATE 
1 The credit-worthiness ratio was .016. (2005)
2 The institution received an unqualified opinion and no material weakness comments as it pertains to internal controls. (2005)
In 2004, the credit-worthiness ratio was .019 as compared to .016 in 2005.  This ratio indicates the institution is continuing to maintain a positive credit worthiness position. 
(2005)
  
UPDATE 
The institution received an unqualified opinion and no material weakness comments as it pertains to internal controls (2006). 
In2005, the credit-worthiness ratio was .016 as compared to .021 in
2006. The increase is within the average trends of the University
debt over the last several years and reflects additional debt service
for the Heating Plant upgrades and installation of a sprinkler system
at the McKeever Center. 
(2006)

UPDATE 
The institution received an unqualified opinion and no material weakness comments as it pertains to internal controls in 2006. The credit-worthiness ratio was .021 in 2006 as compared to .020 in 2007. This ratio indicates the institution is continuing to maintain a positive credit worthiness position and is consistent with its three-year trend.
(2007)

UPDATE  
The institution received an unqualified opinion and no material weakness comments as it pertains to internal controls. The credit-worthiness ratio was .015 in 2008 as compared to .020 in 2007.  This ratio indicates the institution is continuing to maintain a positive credit worthiness position and is consistent with its three-year trend. 
(2008)

UPDATE  
The institution received an unqualified opinion and no material weakness comments as it pertains to internal controls.  The credit-worthiness ratio was .021 in 2009 as compared to .015 in 2008.  This ratio indicates the institution is continuing to maintain a positive credit worthiness position and is consistent with its three year period. 
(2009)

UPDATE 
The institution received an unqualified opinion and no material weakness comments as it pertains to internal control.  The credit-worthiness ratio was .069.  This ratio indicates the institution is continuing to maintain a positive credit worthiness position and is consistent with its three year trend. (2010)