Indiana State University is putting $16 Million in bonds up for sale this week to investors. Their plan is to remodel their student housing/dining services. When an organization puts bonds up for sale they must disclose the financial aspect of it so the credit agencies can properly grade it for investors to mull over. When reading through the bond sale proposal, I found this nugget of information regarding how much the university makes on its housing/dining services. Their net income(after all expenses) is approaching $10 Million.
The Housing and Dining bonds represent an outstanding total of $63.6 million for the system as of June 30, 2014. FY 2014 Housing and Dining System net income of $9.9 million covered debt service 2.09 times.