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How McBain Rural Agricultural Schools Revenues as a Percent of Debt Payments Compares to its Geographic Peers

Of the 7 Districts with data within the WMISD SCHOOLS Peer Group, McBain Rural Agricultural Schools, with an Revenues as a Percent of Debt Payments of 2629.3%, places 1 for fiscal year 2018. The McBain Rural Agricultural Schools 2629.3% expenditure percentage is 1296.8 more than the region average of 1,332.5%.

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Why it Matters: The debt service coverage ratio asks the question how susceptible is a district to not having the ability to pay off their debt. Debt service is the amount of principal and interest that a district must pay each year on long-term debt, plus the interest it must pay on direct short-term debt. As debt service increases, it adds to a district's obligations and reduces its expenditure flexibility. This metric is calculated by dividing the reported debt service by the district's revenue for the General, Special Revenue and Debt Service Funds. Care must be used in evaluating this indicator. A high debt service ratio may indicate a district that has taken on too much debt but it may also indicate that the district has taken an aggressive approach to debt repayment and is paying down their debt quickly. Similarly, a low debt service ratio could indicate a district is strong financially and can finance most capital projects through their operating budget. It may also indicate that a district is financially weaker and has deferred capital projects and allowed important infrastructure to deteriorate. (n085) (o151)

Data Source: The school district financial data comes from two sources. Historic data is provided by downloads from the State Department of Education. Future data is loaded by the respective school district financial department. (n040)

Data Table

District NameISDTotal
Revenues
Total
Debt Service
Debt Service as a Percent
of Revenues & Debt Service Funds
*Rank
Cadillac Area Public SchoolsWexford-Missaukee ISD$58,826,063$5,204,4431130.3%4
Lake City Area School DistrictWexford-Missaukee ISD$14,021,647$1,217,0001152.1%3
Manton Consolidated SchoolsWexford-Missaukee ISD$10,785,213$1,045,2221031.9%6
Marion Public SchoolsWexford-Missaukee ISD$6,205,016$651,855951.9%7
McBain Rural Agricultural SchoolsWexford-Missaukee ISD$13,532,478$514,6852629.3%1
Mesick Consolidated SchoolsWexford-Missaukee ISD$7,591,110$723,2161049.6%5
Pine River Area SchoolsWexford-Missaukee ISD$11,980,254$866,8131382.1%2

*showing the rank number within the 7 districts in the Northern Lower Peninsula Region