| A | B | C | D | E | F | G | H | I | |
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1 | About this workbook | ||||||||
2 | |||||||||
3 | The data in this workbook were originally gathered in 2019 or so, in anticipation of a major statewide bond for schools. | ||||||||
4 | The measure failed. | ||||||||
5 | In July 2025 Jeff Camp collected new data to update the lesson. | ||||||||
6 | |||||||||
7 | To compare the value of facilities bonds issued in different years, it is appropriate to use an inflation measure | ||||||||
8 | The measure should reflect the change in the costs of school construction / renovation: | ||||||||
9 | Producer Price Index by Commodity for Intermediate Demand by Commodity Type: Materials and Components for Construction | ||||||||
10 | Inflation adjustment: https://fred.stlouisfed.org/series/WPUID612 | ||||||||
11 | For each year, we use the January value (it's the middle of the school year) | ||||||||
12 | |||||||||
13 | Data about K-12 school bonds are collected from the California State Treasurer Debtwatch service. Filter: | ||||||||
14 | Sold status: Sold | ||||||||
15 | Issuer type: K-12 district | ||||||||
16 | Purpose: K-12 School Facility | ||||||||
17 | Source of repayment: Property tax revenues | ||||||||
18 | Type: General Obligatin Bond | ||||||||
19 | Choose Export Data to get all the columns! Use a pivot table to summarize. | ||||||||
20 | Debtwatch detail URL in 2025: https://debtwatch.treasurer.ca.gov/issue-level-detail | ||||||||
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22 | Data elements that seem important | ||||||||
23 | Principal | The amount that the district aims to borrow | |||||||
24 | New Money | The real amount that actually goes out including costs. This is the best number to use, I'm told. Visible ONLY when exported | |||||||
25 | NIC | A fee percentage (Net Issuance Cost) | |||||||
26 | TIC | Another fee percentage. (Total IC) Bankers shift the fees based on market tastes. | |||||||
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29 | Cumulative summary for 1970-2023 (billions) | ||||||||
30 | Local bonds for K-12 | 225 | in 2024 dollars | ||||||
31 | State bonds for K-12 | 108 | in 2024 dollars | ||||||
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