Hellgate Elementary
K-8 into a K-12 School District: A Possibility?
MCPS - Potential Bond Issue Facility Costs…
November 19, 2014
** Group recommends $158M in
expansion, renovation projects at
Missoula schools…
Missoulian, May 27, 2014
** MCPS facilities improvements,
backlogged maintenance could take 10
years, trustees learn…
Missoulian, June 18, 2014
** The MCPS high school district needs a minimum of $28 million to cover its
maintenance, safety and technology needs. Actual building work would cost $66
million, although a long-range planning committee recommended a budget of about
$50 million. That would add $60 a year to the $200,000 home’s property taxes.
** In the elementary school district, addressing the top-priority maintenance, safety and
technology problems would cost $13.25 million. Adding the building remodels and
replacements would cost closer to $56 million. Hitting the top- and medium priority needs
for all elementary buildings would cost $96 million, which is $11 million more than the
MCPS elementary district bonding capacity.
Missoulian, June 18, 2014
K-12 School Expansion Discussion…
Topics & Areas to Cover
• Hellgate Elementary High School Costs = $25,000,000.00
1. Mill Value = $30,982.00
• Missoula County Public Schools (MCPS) High School Costs =
$78,000,000.00
1. Mill Value = $183,502.00
“The MCPS high school district needs a minimum of $28 million to cover its
maintenance, safety and technology needs. Actual building work would cost $66
million, although a long-range planning committee recommended a budget of
about $50 million. That would add $60 a year to the $200,000 home's property
taxes.”
Missoulian June 18, 2014
Amortization Table
A simple amortization table covering 20 payment periods of a loan.
1) To use the table, simply change any of the values in the "inital data" area of the worksheet.
2) To print the table, just choose "Print" from the "File" menu. The print area is already defined.
Hellgate Elementary
Initial Data
LOAN DATA
Loan amount:
Annual interest rate:
Term in years:
Payments per year:
First payment due:
PERIODIC PAYMENT
Entered payment:
Calculated payment:
TABLE DATA
$78,000,000.00
3.000%
20
1
7/1/2015
$5,242,825.19
Table starts at date:
or at payment number: 1
Amortization Table
A simple amortization table covering 20 payment periods of a loan.
1) To use the table, simply change any of the values in the "inital data" area of the worksheet.
2) To print the table, just choose "Print" from the "File" menu. The print area is already defined.
The table uses the calculated periodic payment amount
unless you enter a value for "Entered payment".
Initial Data
LOAN DATA
Use payment of: $5,242,825.19
1st payment in table: 1
Beginning balance at payment 1: 78,000,000.00
Cumulative interest prior to payment 1:
0.00
Table
No.
1
2
3
4
5
6
7
8
9
10
11
12
13
14
15
16
17
18
19
20
Payment
Date
7/1/2015
7/1/2016
7/1/2017
7/1/2018
7/1/2019
7/1/2020
7/1/2021
7/1/2022
7/1/2023
7/1/2024
7/1/2025
7/1/2026
7/1/2027
7/1/2028
7/1/2029
7/1/2030
7/1/2031
7/1/2032
7/1/2033
7/1/2034
Beginning
Balance
78,000,000.00
75,097,174.81
72,107,264.86
69,027,657.61
65,855,662.15
62,588,506.82
59,223,336.83
55,757,211.74
52,187,102.90
48,509,890.80
44,722,362.33
40,821,208.01
36,803,019.06
32,664,284.43
28,401,387.77
24,010,604.22
19,488,097.15
14,829,914.87
10,031,987.12
5,090,121.55
Mill Value:
$183,502.00
Interest
2,340,000.00
2,252,915.24
2,163,217.95
2,070,829.73
1,975,669.86
1,877,655.20
1,776,700.10
1,672,716.35
1,565,613.09
1,455,296.72
1,341,670.87
1,224,636.24
1,104,090.57
979,928.53
852,041.63
720,318.13
584,642.91
444,897.45
300,959.61
152,703.65
Number of Mills/Year
Monthly Impact on a $500,000.00
Principal
2,902,825.19
2,989,909.95
3,079,607.25
3,171,995.46
3,267,155.33
3,365,169.99
3,466,125.09
3,570,108.84
3,677,212.11
3,787,528.47
3,901,154.32
4,018,188.95
4,138,734.62
4,262,896.66
4,390,783.56
4,522,507.07
4,658,182.28
4,797,927.75
4,941,865.58
5,090,121.55
Ending
Balance
75,097,174.81
72,107,264.86
69,027,657.61
65,855,662.15
62,588,506.82
59,223,336.83
55,757,211.74
52,187,102.90
48,509,890.80
44,722,362.33
40,821,208.01
36,803,019.06
32,664,284.43
28,401,387.77
24,010,604.22
19,488,097.15
14,829,914.87
10,031,987.12
5,090,121.55
0.00
Cumulative
Interest
2,340,000.00
4,592,915.24
6,756,133.19
8,826,962.92
10,802,632.78
12,680,287.99
14,456,988.09
16,129,704.44
17,695,317.53
19,150,614.26
20,492,285.13
21,716,921.37
22,821,011.94
23,800,940.47
24,652,982.10
25,373,300.23
25,957,943.14
26,402,840.59
26,703,800.20
26,856,503.85
28.57
$13.82
Less: Residential Exemption for Tax Year 2014 (47.0%): MCA 15-6-134
Taxable Assessment Rate: .0247 (taxable market assessment rate established by the state legislature)
Annual Impact on a $500,000.00
Loan amount:
Annual interest rate:
Term in years:
Payments per year:
First payment due:
PERIODIC PAYMENT
Entered payment:
Calculated payment:
TABLE DATA
$25,000,000.00
3.000%
20
1
7/1/2015
$1,680,392.69
Table starts at date:
or at payment number: 1
The table uses the calculated periodic payment amount
unless you enter a value for "Entered payment".
Use payment of: $1,680,392.69
1st payment in table: 1
Beginning balance at payment 1: 25,000,000.00
Cumulative interest prior to payment 1:
0.00
Table
No.
1
2
3
4
5
6
7
8
9
10
11
12
13
14
15
16
17
18
19
20
Payment
Date
7/1/2015
7/1/2016
7/1/2017
7/1/2018
7/1/2019
7/1/2020
7/1/2021
7/1/2022
7/1/2023
7/1/2024
7/1/2025
7/1/2026
7/1/2027
7/1/2028
7/1/2029
7/1/2030
7/1/2031
7/1/2032
7/1/2033
7/1/2034
Beginning
Balance
25,000,000.00
24,069,607.31
23,111,302.84
22,124,249.23
21,107,584.02
20,060,418.85
18,981,838.73
17,870,901.20
16,726,635.55
15,548,041.92
14,334,090.49
13,083,720.52
11,795,839.44
10,469,321.93
9,103,008.90
7,695,706.48
6,246,184.98
4,753,177.84
3,215,380.49
1,631,449.21
Mill Value:
$30,982.00
Interest
750,000.00
722,088.22
693,339.09
663,727.48
633,227.52
601,812.57
569,455.16
536,127.04
501,799.07
466,441.26
430,022.71
392,511.62
353,875.18
314,079.66
273,090.27
230,871.19
187,385.55
142,595.34
96,461.41
48,943.48
Principal
930,392.69
958,304.47
987,053.60
1,016,665.21
1,047,165.17
1,078,580.12
1,110,937.53
1,144,265.65
1,178,593.62
1,213,951.43
1,250,369.98
1,287,881.07
1,326,517.51
1,366,313.03
1,407,302.42
1,449,521.50
1,493,007.14
1,537,797.35
1,583,931.28
1,631,449.21
Ending
Balance
24,069,607.31
23,111,302.84
22,124,249.23
21,107,584.02
20,060,418.85
18,981,838.73
17,870,901.20
16,726,635.55
15,548,041.92
14,334,090.49
13,083,720.52
11,795,839.44
10,469,321.93
9,103,008.90
7,695,706.48
6,246,184.98
4,753,177.84
3,215,380.49
1,631,449.21
0.00
Cumulative
Interest
750,000.00
1,472,088.22
2,165,427.30
2,829,154.78
3,462,382.30
4,064,194.87
4,633,650.03
5,169,777.07
5,671,576.13
6,138,017.39
6,568,040.10
6,960,551.72
7,314,426.90
7,628,506.56
7,901,596.83
8,132,468.02
8,319,853.57
8,462,448.91
8,558,910.32
8,607,853.80
$165.84
Number of Mills/Year
Missoula County Public
Schools (MCPS)
Monthly Impact on a $500,000.00
54.24
$26.24
Less: Residential Exemption for Tax Year 2014 (47.0%): MCA 15-6-134
Taxable Assessment Rate: .0247 (taxable market assessment rate established by the state legislature)
Annual Impact on a $500,000.00
$314.82
K-12 School Expansion Discussion…
Topics & Areas to Cover
• Hellgate Elementary High School Costs - $25,000,000.00
1.
Mill Value = $30,982.00
• Missoula County Public Schools (MCPS) High School Costs $78,000,000.00
1.
Mill Value = $152,521.00
“The MCPS high school district needs a minimum of $28 million to cover its
maintenance, safety and technology needs. Actual building work would cost $66
million, although a long-range planning committee recommended a budget of
about $50 million. That would add $60 a year to the $200,000 home's property
taxes.”
Missoulian June 18, 2014
Amortization Table
A simple amortization table covering 20 payment periods of a loan.
1) To use the table, simply change any of the values in the "inital data" area of the worksheet.
2) To print the table, just choose "Print" from the "File" menu. The print area is already defined.
Hellgate Elementary
Initial Data
LOAN DATA
Loan amount:
Annual interest rate:
Term in years:
Payments per year:
First payment due:
PERIODIC PAYMENT
Entered payment:
Calculated payment:
TABLE DATA
$78,000,000.00
3.000%
20
1
7/1/2015
$5,242,825.19
Table starts at date:
or at payment number: 1
The table uses the calculated periodic payment amount
unless you enter a value for "Entered payment".
Use payment of: $5,242,825.19
1st payment in table: 1
Beginning balance at payment 1: 78,000,000.00
Cumulative interest prior to payment 1:
0.00
Table
No.
1
2
3
4
5
6
7
8
9
10
11
12
13
14
15
16
17
18
19
20
Payment
Date
7/1/2015
7/1/2016
7/1/2017
7/1/2018
7/1/2019
7/1/2020
7/1/2021
7/1/2022
7/1/2023
7/1/2024
7/1/2025
7/1/2026
7/1/2027
7/1/2028
7/1/2029
7/1/2030
7/1/2031
7/1/2032
7/1/2033
7/1/2034
Beginning
Balance
78,000,000.00
75,097,174.81
72,107,264.86
69,027,657.61
65,855,662.15
62,588,506.82
59,223,336.83
55,757,211.74
52,187,102.90
48,509,890.80
44,722,362.33
40,821,208.01
36,803,019.06
32,664,284.43
28,401,387.77
24,010,604.22
19,488,097.15
14,829,914.87
10,031,987.12
5,090,121.55
Mill Value:
$152,521.00
Interest
2,340,000.00
2,252,915.24
2,163,217.95
2,070,829.73
1,975,669.86
1,877,655.20
1,776,700.10
1,672,716.35
1,565,613.09
1,455,296.72
1,341,670.87
1,224,636.24
1,104,090.57
979,928.53
852,041.63
720,318.13
584,642.91
444,897.45
300,959.61
152,703.65
Number of Mills/Year
Monthly Impact on a $500,000.00
Principal
2,902,825.19
2,989,909.95
3,079,607.25
3,171,995.46
3,267,155.33
3,365,169.99
3,466,125.09
3,570,108.84
3,677,212.11
3,787,528.47
3,901,154.32
4,018,188.95
4,138,734.62
4,262,896.66
4,390,783.56
4,522,507.07
4,658,182.28
4,797,927.75
4,941,865.58
5,090,121.55
Ending
Balance
75,097,174.81
72,107,264.86
69,027,657.61
65,855,662.15
62,588,506.82
59,223,336.83
55,757,211.74
52,187,102.90
48,509,890.80
44,722,362.33
40,821,208.01
36,803,019.06
32,664,284.43
28,401,387.77
24,010,604.22
19,488,097.15
14,829,914.87
10,031,987.12
5,090,121.55
0.00
Cumulative
Interest
2,340,000.00
4,592,915.24
6,756,133.19
8,826,962.92
10,802,632.78
12,680,287.99
14,456,988.09
16,129,704.44
17,695,317.53
19,150,614.26
20,492,285.13
21,716,921.37
22,821,011.94
23,800,940.47
24,652,982.10
25,373,300.23
25,957,943.14
26,402,840.59
26,703,800.20
26,856,503.85
34.37
$16.63
Less: Residential Exemption for Tax Year 2014 (47.0%): MCA 15-6-134
Taxable Assessment Rate: .0247 (taxable market assessment rate established by the state legislature)
Annual Impact on a $500,000.00
Amortization Table
A simple amortization table covering 20 payment periods of a loan.
1) To use the table, simply change any of the values in the "inital data" area of the worksheet.
2) To print the table, just choose "Print" from the "File" menu. The print area is already defined.
Initial Data
LOAN DATA
Loan amount:
Annual interest rate:
Term in years:
Payments per year:
First payment due:
PERIODIC PAYMENT
Entered payment:
Calculated payment:
TABLE DATA
$25,000,000.00
3.000%
20
1
7/1/2015
$1,680,392.69
Table starts at date:
or at payment number: 1
The table uses the calculated periodic payment amount
unless you enter a value for "Entered payment".
Use payment of: $1,680,392.69
1st payment in table: 1
Beginning balance at payment 1: 25,000,000.00
Cumulative interest prior to payment 1:
0.00
Table
No.
1
2
3
4
5
6
7
8
9
10
11
12
13
14
15
16
17
18
19
20
Payment
Date
7/1/2015
7/1/2016
7/1/2017
7/1/2018
7/1/2019
7/1/2020
7/1/2021
7/1/2022
7/1/2023
7/1/2024
7/1/2025
7/1/2026
7/1/2027
7/1/2028
7/1/2029
7/1/2030
7/1/2031
7/1/2032
7/1/2033
7/1/2034
Beginning
Balance
25,000,000.00
24,069,607.31
23,111,302.84
22,124,249.23
21,107,584.02
20,060,418.85
18,981,838.73
17,870,901.20
16,726,635.55
15,548,041.92
14,334,090.49
13,083,720.52
11,795,839.44
10,469,321.93
9,103,008.90
7,695,706.48
6,246,184.98
4,753,177.84
3,215,380.49
1,631,449.21
Mill Value:
$30,982.00
Interest
750,000.00
722,088.22
693,339.09
663,727.48
633,227.52
601,812.57
569,455.16
536,127.04
501,799.07
466,441.26
430,022.71
392,511.62
353,875.18
314,079.66
273,090.27
230,871.19
187,385.55
142,595.34
96,461.41
48,943.48
Principal
930,392.69
958,304.47
987,053.60
1,016,665.21
1,047,165.17
1,078,580.12
1,110,937.53
1,144,265.65
1,178,593.62
1,213,951.43
1,250,369.98
1,287,881.07
1,326,517.51
1,366,313.03
1,407,302.42
1,449,521.50
1,493,007.14
1,537,797.35
1,583,931.28
1,631,449.21
Ending
Balance
24,069,607.31
23,111,302.84
22,124,249.23
21,107,584.02
20,060,418.85
18,981,838.73
17,870,901.20
16,726,635.55
15,548,041.92
14,334,090.49
13,083,720.52
11,795,839.44
10,469,321.93
9,103,008.90
7,695,706.48
6,246,184.98
4,753,177.84
3,215,380.49
1,631,449.21
0.00
Cumulative
Interest
750,000.00
1,472,088.22
2,165,427.30
2,829,154.78
3,462,382.30
4,064,194.87
4,633,650.03
5,169,777.07
5,671,576.13
6,138,017.39
6,568,040.10
6,960,551.72
7,314,426.90
7,628,506.56
7,901,596.83
8,132,468.02
8,319,853.57
8,462,448.91
8,558,910.32
8,607,853.80
$199.53
Number of Mills/Year
Missoula County Public
Schools (MCPS)
Monthly Impact on a $500,000.00
54.24
$26.24
Less: Residential Exemption for Tax Year 2014 (47.0%): MCA 15-6-134
Taxable Assessment Rate: .0247 (taxable market assessment rate established by the state legislature)
Annual Impact on a $500,000.00
$314.82
K-12 School Expansion Discussion…
Topics & Areas to Cover
• Hellgate Elementary High School Costs - $16,250,000.00 (state
debt service GTB assistance of 35%) [20-9-366 MCA]
1.
Mill Value = $30,982.00
• Missoula County Public Schools (MCPS) High School Costs $78,000,000.00
1. Mill Value = $155,000.00
“The MCPS high school district needs a minimum of $28 million to cover its
maintenance, safety and technology needs. Actual building work would cost $66
million, although a long-range planning committee recommended a budget of
about $50 million. That would add $60 a year to the $200,000 home's property
taxes.”
Missoulian June 18, 2014
Amortization Table
A simple amortization table covering 20 payment periods of a loan.
1) To use the table, simply change any of the values in the "inital data" area of the worksheet.
2) To print the table, just choose "Print" from the "File" menu. The print area is already defined.
Hellgate Elementary
Initial Data
LOAN DATA
Loan amount:
Annual interest rate:
Term in years:
Payments per year:
First payment due:
PERIODIC PAYMENT
Entered payment:
Calculated payment:
TABLE DATA
$78,000,000.00
3.000%
20
1
7/1/2015
$5,242,825.19
Table starts at date:
or at payment number: 1
A simple amortization table covering 20 payment periods of a loan.
1) To use the table, simply change any of the values in the "inital data" area of the worksheet.
2) To print the table, just choose "Print" from the "File" menu. The print area is already defined.
The table uses the calculated periodic payment amount
unless you enter a value for "Entered payment".
Use payment of: $5,242,825.19
1st payment in table: 1
Beginning balance at payment 1: 78,000,000.00
Cumulative interest prior to payment 1:
0.00
Table
No.
1
2
3
4
5
6
7
8
9
10
11
12
13
14
15
16
17
18
19
20
Payment
Date
7/1/2015
7/1/2016
7/1/2017
7/1/2018
7/1/2019
7/1/2020
7/1/2021
7/1/2022
7/1/2023
7/1/2024
7/1/2025
7/1/2026
7/1/2027
7/1/2028
7/1/2029
7/1/2030
7/1/2031
7/1/2032
7/1/2033
7/1/2034
Beginning
Balance
78,000,000.00
75,097,174.81
72,107,264.86
69,027,657.61
65,855,662.15
62,588,506.82
59,223,336.83
55,757,211.74
52,187,102.90
48,509,890.80
44,722,362.33
40,821,208.01
36,803,019.06
32,664,284.43
28,401,387.77
24,010,604.22
19,488,097.15
14,829,914.87
10,031,987.12
5,090,121.55
Mill Value:
$152,521.00
Interest
2,340,000.00
2,252,915.24
2,163,217.95
2,070,829.73
1,975,669.86
1,877,655.20
1,776,700.10
1,672,716.35
1,565,613.09
1,455,296.72
1,341,670.87
1,224,636.24
1,104,090.57
979,928.53
852,041.63
720,318.13
584,642.91
444,897.45
300,959.61
152,703.65
Number of Mills/Year
Monthly Impact on a $500,000.00
Principal
2,902,825.19
2,989,909.95
3,079,607.25
3,171,995.46
3,267,155.33
3,365,169.99
3,466,125.09
3,570,108.84
3,677,212.11
3,787,528.47
3,901,154.32
4,018,188.95
4,138,734.62
4,262,896.66
4,390,783.56
4,522,507.07
4,658,182.28
4,797,927.75
4,941,865.58
5,090,121.55
Ending
Balance
75,097,174.81
72,107,264.86
69,027,657.61
65,855,662.15
62,588,506.82
59,223,336.83
55,757,211.74
52,187,102.90
48,509,890.80
44,722,362.33
40,821,208.01
36,803,019.06
32,664,284.43
28,401,387.77
24,010,604.22
19,488,097.15
14,829,914.87
10,031,987.12
5,090,121.55
0.00
Cumulative
Interest
2,340,000.00
4,592,915.24
6,756,133.19
8,826,962.92
10,802,632.78
12,680,287.99
14,456,988.09
16,129,704.44
17,695,317.53
19,150,614.26
20,492,285.13
21,716,921.37
22,821,011.94
23,800,940.47
24,652,982.10
25,373,300.23
25,957,943.14
26,402,840.59
26,703,800.20
26,856,503.85
34.37
$16.63
Less: Residential Exemption for Tax Year 2014 (47.0%): MCA 15-6-134
Taxable Assessment Rate: .0247 (taxable market assessment rate established by the state legislature)
Annual Impact on a $500,000.00
Amortization Table
$199.53
Initial Data
LOAN DATA
Loan amount:
Annual interest rate:
Term in years:
Payments per year:
First payment due:
PERIODIC PAYMENT
Entered payment:
Calculated payment:
TABLE DATA
$16,250,000.00
3.000%
20
1
7/1/2015
$1,092,255.25
Table starts at date:
or at payment number: 1
The table uses the calculated periodic payment amount
unless you enter a value for "Entered payment".
Use payment of: $1,092,255.25
1st payment in table: 1
Table
No.
1
2
3
4
5
6
7
8
9
10
11
12
13
14
15
16
17
18
19
20
Payment
Date
7/1/2015
7/1/2016
7/1/2017
7/1/2018
7/1/2019
7/1/2020
7/1/2021
7/1/2022
7/1/2023
7/1/2024
7/1/2025
7/1/2026
7/1/2027
7/1/2028
7/1/2029
7/1/2030
7/1/2031
7/1/2032
7/1/2033
7/1/2034
Beginning
Balance
16,250,000.00
15,645,244.75
15,022,346.85
14,380,762.00
13,719,929.61
13,039,272.25
12,338,195.17
11,616,085.78
10,872,313.11
10,106,227.25
9,317,158.82
8,504,418.33
7,667,295.64
6,805,059.26
5,916,955.79
5,002,209.21
4,060,020.24
3,089,565.60
2,089,997.32
1,060,441.99
Mill Value:
$30,982.00
Number of Mills/Year
Missoula County Public
Schools (MCPS)
Beginning balance at payment 1: 16,250,000.00
Cumulative interest prior to payment 1:
0.00
Monthly Impact on a $500,000.00
Interest
487,500.00
469,357.34
450,670.41
431,422.86
411,597.89
391,178.17
370,145.86
348,482.57
326,169.39
303,186.82
279,514.76
255,132.55
230,018.87
204,151.78
177,508.67
150,066.28
121,800.61
92,686.97
62,699.92
31,813.26
Principal
604,755.25
622,897.91
641,584.84
660,832.39
680,657.36
701,077.08
722,109.39
743,772.68
766,085.86
789,068.43
812,740.48
837,122.70
862,236.38
888,103.47
914,746.57
942,188.97
970,454.64
999,568.28
1,029,555.33
1,060,441.99
Ending
Balance
15,645,244.75
15,022,346.85
14,380,762.00
13,719,929.61
13,039,272.25
12,338,195.17
11,616,085.78
10,872,313.11
10,106,227.25
9,317,158.82
8,504,418.33
7,667,295.64
6,805,059.26
5,916,955.79
5,002,209.21
4,060,020.24
3,089,565.60
2,089,997.32
1,060,441.99
0.00
Cumulative
Interest
487,500.00
956,857.34
1,407,527.75
1,838,950.61
2,250,548.50
2,641,726.66
3,011,872.52
3,360,355.09
3,686,524.49
3,989,711.30
4,269,226.07
4,524,358.62
4,754,377.49
4,958,529.26
5,136,037.94
5,286,104.21
5,407,904.82
5,500,591.79
5,563,291.71
5,595,104.97
35.25
$17.05
Less: Residential Exemption for Tax Year 2014 (47.0%): MCA 15-6-134
Taxable Assessment Rate: .0247 (taxable market assessment rate established by the state legislature)
Annual Impact on a $500,000.00
$204.63
K-12 School Expansion Discussion…
Topics & Areas to Cover
• Hellgate Elementary High School Costs = $30,000,000.00
1. Mill Value = $30,982.00
• Missoula County Public Schools (MCPS) High School Costs =
$78,000,000.00
1. Mill Value = $183,502.00
“The MCPS high school district needs a minimum of $28 million to cover its
maintenance, safety and technology needs. Actual building work would cost $66
million, although a long-range planning committee recommended a budget of
about $50 million. That would add $60 a year to the $200,000 home's property
taxes.”
Missoulian June 18, 2014
Amortization Table
A simple amortization table covering 20 payment periods of a loan.
1) To use the table, simply change any of the values in the "inital data" area of the worksheet.
2) To print the table, just choose "Print" from the "File" menu. The print area is already defined.
Hellgate Elementary
Initial Data
LOAN DATA
Loan amount:
Annual interest rate:
Term in years:
Payments per year:
First payment due:
PERIODIC PAYMENT
Entered payment:
Calculated payment:
TABLE DATA
$78,000,000.00
3.000%
20
1
7/1/2015
$5,242,825.19
Table starts at date:
or at payment number: 1
Amortization Table
A simple amortization table covering 20 payment periods of a loan.
1) To use the table, simply change any of the values in the "inital data" area of the worksheet.
2) To print the table, just choose "Print" from the "File" menu. The print area is already defined.
The table uses the calculated periodic payment amount
unless you enter a value for "Entered payment".
Initial Data
LOAN DATA
Use payment of: $5,242,825.19
1st payment in table: 1
Beginning balance at payment 1: 78,000,000.00
Cumulative interest prior to payment 1:
0.00
Table
No.
1
2
3
4
5
6
7
8
9
10
11
12
13
14
15
16
17
18
19
20
Payment
Date
7/1/2015
7/1/2016
7/1/2017
7/1/2018
7/1/2019
7/1/2020
7/1/2021
7/1/2022
7/1/2023
7/1/2024
7/1/2025
7/1/2026
7/1/2027
7/1/2028
7/1/2029
7/1/2030
7/1/2031
7/1/2032
7/1/2033
7/1/2034
Beginning
Balance
78,000,000.00
75,097,174.81
72,107,264.86
69,027,657.61
65,855,662.15
62,588,506.82
59,223,336.83
55,757,211.74
52,187,102.90
48,509,890.80
44,722,362.33
40,821,208.01
36,803,019.06
32,664,284.43
28,401,387.77
24,010,604.22
19,488,097.15
14,829,914.87
10,031,987.12
5,090,121.55
Mill Value:
$183,502.00
Interest
2,340,000.00
2,252,915.24
2,163,217.95
2,070,829.73
1,975,669.86
1,877,655.20
1,776,700.10
1,672,716.35
1,565,613.09
1,455,296.72
1,341,670.87
1,224,636.24
1,104,090.57
979,928.53
852,041.63
720,318.13
584,642.91
444,897.45
300,959.61
152,703.65
Number of Mills/Year
Monthly Impact on a $500,000.00
Principal
2,902,825.19
2,989,909.95
3,079,607.25
3,171,995.46
3,267,155.33
3,365,169.99
3,466,125.09
3,570,108.84
3,677,212.11
3,787,528.47
3,901,154.32
4,018,188.95
4,138,734.62
4,262,896.66
4,390,783.56
4,522,507.07
4,658,182.28
4,797,927.75
4,941,865.58
5,090,121.55
Ending
Balance
75,097,174.81
72,107,264.86
69,027,657.61
65,855,662.15
62,588,506.82
59,223,336.83
55,757,211.74
52,187,102.90
48,509,890.80
44,722,362.33
40,821,208.01
36,803,019.06
32,664,284.43
28,401,387.77
24,010,604.22
19,488,097.15
14,829,914.87
10,031,987.12
5,090,121.55
0.00
Cumulative
Interest
2,340,000.00
4,592,915.24
6,756,133.19
8,826,962.92
10,802,632.78
12,680,287.99
14,456,988.09
16,129,704.44
17,695,317.53
19,150,614.26
20,492,285.13
21,716,921.37
22,821,011.94
23,800,940.47
24,652,982.10
25,373,300.23
25,957,943.14
26,402,840.59
26,703,800.20
26,856,503.85
28.57
$13.82
Less: Residential Exemption for Tax Year 2014 (47.0%): MCA 15-6-134
Taxable Assessment Rate: .0247 (taxable market assessment rate established by the state legislature)
Annual Impact on a $500,000.00
$165.84
Loan amount:
Annual interest rate:
Term in years:
Payments per year:
First payment due:
PERIODIC PAYMENT
Entered payment:
Calculated payment:
TABLE DATA
$30,000,000.00
3.000%
20
1
7/1/2015
$2,016,471.23
Table starts at date:
or at payment number: 1
The table uses the calculated periodic payment amount
unless you enter a value for "Entered payment".
Use payment of: $2,016,471.23
1st payment in table: 1
Table
No.
1
2
3
4
5
6
7
8
9
10
11
12
13
14
15
16
17
18
19
20
Payment
Date
7/1/2015
7/1/2016
7/1/2017
7/1/2018
7/1/2019
7/1/2020
7/1/2021
7/1/2022
7/1/2023
7/1/2024
7/1/2025
7/1/2026
7/1/2027
7/1/2028
7/1/2029
7/1/2030
7/1/2031
7/1/2032
7/1/2033
7/1/2034
Beginning
Balance
30,000,000.00
28,883,528.77
27,733,563.41
26,549,099.08
25,329,100.83
24,072,502.62
22,778,206.47
21,445,081.44
20,071,962.66
18,657,650.31
17,200,908.59
15,700,464.62
14,155,007.33
12,563,186.32
10,923,610.68
9,234,847.78
7,495,421.98
5,703,813.41
3,858,456.59
1,957,739.06
Mill Value:
$30,982.00
Number of Mills/Year
Missoula County Public
Schools (MCPS)
Beginning balance at payment 1: 30,000,000.00
Cumulative interest prior to payment 1:
0.00
Monthly Impact on a $500,000.00
Interest
900,000.00
866,505.86
832,006.90
796,472.97
759,873.02
722,175.08
683,346.19
643,352.44
602,158.88
559,729.51
516,027.26
471,013.94
424,650.22
376,895.59
327,708.32
277,045.43
224,862.66
171,114.40
115,753.70
58,732.17
Principal
1,116,471.23
1,149,965.36
1,184,464.33
1,219,998.26
1,256,598.20
1,294,296.15
1,333,125.03
1,373,118.78
1,414,312.35
1,456,741.72
1,500,443.97
1,545,457.29
1,591,821.01
1,639,575.64
1,688,762.91
1,739,425.79
1,791,608.57
1,845,356.83
1,900,717.53
1,957,739.06
Ending
Balance
28,883,528.77
27,733,563.41
26,549,099.08
25,329,100.83
24,072,502.62
22,778,206.47
21,445,081.44
20,071,962.66
18,657,650.31
17,200,908.59
15,700,464.62
14,155,007.33
12,563,186.32
10,923,610.68
9,234,847.78
7,495,421.98
5,703,813.41
3,858,456.59
1,957,739.06
0.00
Cumulative
Interest
900,000.00
1,766,505.86
2,598,512.77
3,394,985.74
4,154,858.76
4,877,033.84
5,560,380.04
6,203,732.48
6,805,891.36
7,365,620.87
7,881,648.13
8,352,662.06
8,777,312.28
9,154,207.87
9,481,916.19
9,758,961.63
9,983,824.29
10,154,938.69
10,270,692.39
10,329,424.56
65.09
$31.48
Less: Residential Exemption for Tax Year 2014 (47.0%): MCA 15-6-134
Taxable Assessment Rate: .0247 (taxable market assessment rate established by the state legislature)
Annual Impact on a $500,000.00
$377.79
K-12 School Expansion Discussion…
Topics & Areas to Cover
• Hellgate Elementary High School Costs - $30,000,000.00
1.
Mill Value = $30,982.00
• Missoula County Public Schools (MCPS) High School Costs $78,000,000.00
1.
Mill Value = $152,521.00
“The MCPS high school district needs a minimum of $28 million to cover its
maintenance, safety and technology needs. Actual building work would cost $66
million, although a long-range planning committee recommended a budget of
about $50 million. That would add $60 a year to the $200,000 home's property
taxes.”
Missoulian June 18, 2014
Amortization Table
A simple amortization table covering 20 payment periods of a loan.
1) To use the table, simply change any of the values in the "inital data" area of the worksheet.
2) To print the table, just choose "Print" from the "File" menu. The print area is already defined.
Hellgate Elementary
Initial Data
LOAN DATA
Loan amount:
Annual interest rate:
Term in years:
Payments per year:
First payment due:
PERIODIC PAYMENT
Entered payment:
Calculated payment:
TABLE DATA
$78,000,000.00
3.000%
20
1
7/1/2015
$5,242,825.19
Table starts at date:
or at payment number: 1
A simple amortization table covering 20 payment periods of a loan.
1) To use the table, simply change any of the values in the "inital data" area of the worksheet.
2) To print the table, just choose "Print" from the "File" menu. The print area is already defined.
The table uses the calculated periodic payment amount
unless you enter a value for "Entered payment".
Use payment of: $5,242,825.19
1st payment in table: 1
Beginning balance at payment 1: 78,000,000.00
Cumulative interest prior to payment 1:
0.00
Table
No.
1
2
3
4
5
6
7
8
9
10
11
12
13
14
15
16
17
18
19
20
Payment
Date
7/1/2015
7/1/2016
7/1/2017
7/1/2018
7/1/2019
7/1/2020
7/1/2021
7/1/2022
7/1/2023
7/1/2024
7/1/2025
7/1/2026
7/1/2027
7/1/2028
7/1/2029
7/1/2030
7/1/2031
7/1/2032
7/1/2033
7/1/2034
Beginning
Balance
78,000,000.00
75,097,174.81
72,107,264.86
69,027,657.61
65,855,662.15
62,588,506.82
59,223,336.83
55,757,211.74
52,187,102.90
48,509,890.80
44,722,362.33
40,821,208.01
36,803,019.06
32,664,284.43
28,401,387.77
24,010,604.22
19,488,097.15
14,829,914.87
10,031,987.12
5,090,121.55
Mill Value:
$152,521.00
Interest
2,340,000.00
2,252,915.24
2,163,217.95
2,070,829.73
1,975,669.86
1,877,655.20
1,776,700.10
1,672,716.35
1,565,613.09
1,455,296.72
1,341,670.87
1,224,636.24
1,104,090.57
979,928.53
852,041.63
720,318.13
584,642.91
444,897.45
300,959.61
152,703.65
Number of Mills/Year
Monthly Impact on a $500,000.00
Principal
2,902,825.19
2,989,909.95
3,079,607.25
3,171,995.46
3,267,155.33
3,365,169.99
3,466,125.09
3,570,108.84
3,677,212.11
3,787,528.47
3,901,154.32
4,018,188.95
4,138,734.62
4,262,896.66
4,390,783.56
4,522,507.07
4,658,182.28
4,797,927.75
4,941,865.58
5,090,121.55
Ending
Balance
75,097,174.81
72,107,264.86
69,027,657.61
65,855,662.15
62,588,506.82
59,223,336.83
55,757,211.74
52,187,102.90
48,509,890.80
44,722,362.33
40,821,208.01
36,803,019.06
32,664,284.43
28,401,387.77
24,010,604.22
19,488,097.15
14,829,914.87
10,031,987.12
5,090,121.55
0.00
Cumulative
Interest
2,340,000.00
4,592,915.24
6,756,133.19
8,826,962.92
10,802,632.78
12,680,287.99
14,456,988.09
16,129,704.44
17,695,317.53
19,150,614.26
20,492,285.13
21,716,921.37
22,821,011.94
23,800,940.47
24,652,982.10
25,373,300.23
25,957,943.14
26,402,840.59
26,703,800.20
26,856,503.85
34.37
$16.63
Less: Residential Exemption for Tax Year 2014 (47.0%): MCA 15-6-134
Taxable Assessment Rate: .0247 (taxable market assessment rate established by the state legislature)
Annual Impact on a $500,000.00
Amortization Table
$199.53
Initial Data
LOAN DATA
Loan amount:
Annual interest rate:
Term in years:
Payments per year:
First payment due:
PERIODIC PAYMENT
Entered payment:
Calculated payment:
TABLE DATA
$30,000,000.00
3.000%
20
1
7/1/2015
$2,016,471.23
Table starts at date:
or at payment number: 1
The table uses the calculated periodic payment amount
unless you enter a value for "Entered payment".
Use payment of: $2,016,471.23
1st payment in table: 1
Table
No.
1
2
3
4
5
6
7
8
9
10
11
12
13
14
15
16
17
18
19
20
Payment
Date
7/1/2015
7/1/2016
7/1/2017
7/1/2018
7/1/2019
7/1/2020
7/1/2021
7/1/2022
7/1/2023
7/1/2024
7/1/2025
7/1/2026
7/1/2027
7/1/2028
7/1/2029
7/1/2030
7/1/2031
7/1/2032
7/1/2033
7/1/2034
Beginning
Balance
30,000,000.00
28,883,528.77
27,733,563.41
26,549,099.08
25,329,100.83
24,072,502.62
22,778,206.47
21,445,081.44
20,071,962.66
18,657,650.31
17,200,908.59
15,700,464.62
14,155,007.33
12,563,186.32
10,923,610.68
9,234,847.78
7,495,421.98
5,703,813.41
3,858,456.59
1,957,739.06
Mill Value:
$30,982.00
Number of Mills/Year
Missoula County Public
Schools (MCPS)
Beginning balance at payment 1: 30,000,000.00
Cumulative interest prior to payment 1:
0.00
Monthly Impact on a $500,000.00
Interest
900,000.00
866,505.86
832,006.90
796,472.97
759,873.02
722,175.08
683,346.19
643,352.44
602,158.88
559,729.51
516,027.26
471,013.94
424,650.22
376,895.59
327,708.32
277,045.43
224,862.66
171,114.40
115,753.70
58,732.17
Principal
1,116,471.23
1,149,965.36
1,184,464.33
1,219,998.26
1,256,598.20
1,294,296.15
1,333,125.03
1,373,118.78
1,414,312.35
1,456,741.72
1,500,443.97
1,545,457.29
1,591,821.01
1,639,575.64
1,688,762.91
1,739,425.79
1,791,608.57
1,845,356.83
1,900,717.53
1,957,739.06
Ending
Balance
28,883,528.77
27,733,563.41
26,549,099.08
25,329,100.83
24,072,502.62
22,778,206.47
21,445,081.44
20,071,962.66
18,657,650.31
17,200,908.59
15,700,464.62
14,155,007.33
12,563,186.32
10,923,610.68
9,234,847.78
7,495,421.98
5,703,813.41
3,858,456.59
1,957,739.06
0.00
Cumulative
Interest
900,000.00
1,766,505.86
2,598,512.77
3,394,985.74
4,154,858.76
4,877,033.84
5,560,380.04
6,203,732.48
6,805,891.36
7,365,620.87
7,881,648.13
8,352,662.06
8,777,312.28
9,154,207.87
9,481,916.19
9,758,961.63
9,983,824.29
10,154,938.69
10,270,692.39
10,329,424.56
65.09
$31.48
Less: Residential Exemption for Tax Year 2014 (47.0%): MCA 15-6-134
Taxable Assessment Rate: .0247 (taxable market assessment rate established by the state legislature)
Annual Impact on a $500,000.00
$377.79
K-12 School Expansion Discussion…
Topics & Areas to Cover
• Hellgate Elementary High School Costs - $19,500,000.00 (state
debt service GTB assistance of 35%) [20-9-366 MCA]
1.
Mill Value = $30,982.00
• Missoula County Public Schools (MCPS) High School Costs $78,000,000.00
1. Mill Value = $155,000.00
“The MCPS high school district needs a minimum of $28 million to cover its
maintenance, safety and technology needs. Actual building work would cost $66
million, although a long-range planning committee recommended a budget of
about $50 million. That would add $60 a year to the $200,000 home's property
taxes.”
Missoulian June 18, 2014
Amortization Table
A simple amortization table covering 20 payment periods of a loan.
1) To use the table, simply change any of the values in the "inital data" area of the worksheet.
2) To print the table, just choose "Print" from the "File" menu. The print area is already defined.
Hellgate Elementary
Initial Data
LOAN DATA
Loan amount:
Annual interest rate:
Term in years:
Payments per year:
First payment due:
PERIODIC PAYMENT
Entered payment:
Calculated payment:
TABLE DATA
$78,000,000.00
3.000%
20
1
7/1/2015
$5,242,825.19
Table starts at date:
or at payment number: 1
A simple amortization table covering 20 payment periods of a loan.
1) To use the table, simply change any of the values in the "inital data" area of the worksheet.
2) To print the table, just choose "Print" from the "File" menu. The print area is already defined.
The table uses the calculated periodic payment amount
unless you enter a value for "Entered payment".
Use payment of: $5,242,825.19
1st payment in table: 1
Beginning balance at payment 1: 78,000,000.00
Cumulative interest prior to payment 1:
0.00
Table
No.
1
2
3
4
5
6
7
8
9
10
11
12
13
14
15
16
17
18
19
20
Payment
Date
7/1/2015
7/1/2016
7/1/2017
7/1/2018
7/1/2019
7/1/2020
7/1/2021
7/1/2022
7/1/2023
7/1/2024
7/1/2025
7/1/2026
7/1/2027
7/1/2028
7/1/2029
7/1/2030
7/1/2031
7/1/2032
7/1/2033
7/1/2034
Beginning
Balance
78,000,000.00
75,097,174.81
72,107,264.86
69,027,657.61
65,855,662.15
62,588,506.82
59,223,336.83
55,757,211.74
52,187,102.90
48,509,890.80
44,722,362.33
40,821,208.01
36,803,019.06
32,664,284.43
28,401,387.77
24,010,604.22
19,488,097.15
14,829,914.87
10,031,987.12
5,090,121.55
Mill Value:
$152,521.00
Interest
2,340,000.00
2,252,915.24
2,163,217.95
2,070,829.73
1,975,669.86
1,877,655.20
1,776,700.10
1,672,716.35
1,565,613.09
1,455,296.72
1,341,670.87
1,224,636.24
1,104,090.57
979,928.53
852,041.63
720,318.13
584,642.91
444,897.45
300,959.61
152,703.65
Number of Mills/Year
Monthly Impact on a $500,000.00
Principal
2,902,825.19
2,989,909.95
3,079,607.25
3,171,995.46
3,267,155.33
3,365,169.99
3,466,125.09
3,570,108.84
3,677,212.11
3,787,528.47
3,901,154.32
4,018,188.95
4,138,734.62
4,262,896.66
4,390,783.56
4,522,507.07
4,658,182.28
4,797,927.75
4,941,865.58
5,090,121.55
Ending
Balance
75,097,174.81
72,107,264.86
69,027,657.61
65,855,662.15
62,588,506.82
59,223,336.83
55,757,211.74
52,187,102.90
48,509,890.80
44,722,362.33
40,821,208.01
36,803,019.06
32,664,284.43
28,401,387.77
24,010,604.22
19,488,097.15
14,829,914.87
10,031,987.12
5,090,121.55
0.00
Cumulative
Interest
2,340,000.00
4,592,915.24
6,756,133.19
8,826,962.92
10,802,632.78
12,680,287.99
14,456,988.09
16,129,704.44
17,695,317.53
19,150,614.26
20,492,285.13
21,716,921.37
22,821,011.94
23,800,940.47
24,652,982.10
25,373,300.23
25,957,943.14
26,402,840.59
26,703,800.20
26,856,503.85
34.37
$16.63
Less: Residential Exemption for Tax Year 2014 (47.0%): MCA 15-6-134
Taxable Assessment Rate: .0247 (taxable market assessment rate established by the state legislature)
Annual Impact on a $500,000.00
Amortization Table
$199.53
Initial Data
LOAN DATA
Loan amount:
Annual interest rate:
Term in years:
Payments per year:
First payment due:
PERIODIC PAYMENT
Entered payment:
Calculated payment:
TABLE DATA
$19,500,000.00
3.000%
20
1
7/1/2015
$1,310,706.30
Table starts at date:
or at payment number: 1
The table uses the calculated periodic payment amount
unless you enter a value for "Entered payment".
Use payment of: $1,310,706.30
1st payment in table: 1
Table
No.
1
2
3
4
5
6
7
8
9
10
11
12
13
14
15
16
17
18
19
20
Payment
Date
7/1/2015
7/1/2016
7/1/2017
7/1/2018
7/1/2019
7/1/2020
7/1/2021
7/1/2022
7/1/2023
7/1/2024
7/1/2025
7/1/2026
7/1/2027
7/1/2028
7/1/2029
7/1/2030
7/1/2031
7/1/2032
7/1/2033
7/1/2034
Beginning
Balance
19,500,000.00
18,774,293.70
18,026,816.21
17,256,914.40
16,463,915.54
15,647,126.71
14,805,834.21
13,939,302.94
13,046,775.73
12,127,472.70
11,180,590.58
10,205,302.00
9,200,754.76
8,166,071.11
7,100,346.94
6,002,651.05
4,872,024.29
3,707,478.72
2,507,996.78
1,272,530.39
Mill Value:
$30,982.00
Number of Mills/Year
Missoula County Public
Schools (MCPS)
Beginning balance at payment 1: 19,500,000.00
Cumulative interest prior to payment 1:
0.00
Monthly Impact on a $500,000.00
Interest
585,000.00
563,228.81
540,804.49
517,707.43
493,917.47
469,413.80
444,175.03
418,179.09
391,403.27
363,824.18
335,417.72
306,159.06
276,022.64
244,982.13
213,010.41
180,079.53
146,160.73
111,224.36
75,239.90
38,175.91
Principal
725,706.30
747,477.49
769,901.81
792,998.87
816,788.83
841,292.50
866,531.27
892,527.21
919,303.03
946,882.12
975,288.58
1,004,547.24
1,034,683.66
1,065,724.16
1,097,695.89
1,130,626.77
1,164,545.57
1,199,481.94
1,235,466.39
1,272,530.39
Ending
Balance
18,774,293.70
18,026,816.21
17,256,914.40
16,463,915.54
15,647,126.71
14,805,834.21
13,939,302.94
13,046,775.73
12,127,472.70
11,180,590.58
10,205,302.00
9,200,754.76
8,166,071.11
7,100,346.94
6,002,651.05
4,872,024.29
3,707,478.72
2,507,996.78
1,272,530.39
0.00
Cumulative
Interest
585,000.00
1,148,228.81
1,689,033.30
2,206,740.73
2,700,658.20
3,170,072.00
3,614,247.02
4,032,426.11
4,423,829.38
4,787,653.56
5,123,071.28
5,429,230.34
5,705,252.98
5,950,235.12
6,163,245.53
6,343,325.06
6,489,485.79
6,600,710.15
6,675,950.05
6,714,125.96
42.31
$20.46
Less: Residential Exemption for Tax Year 2014 (47.0%): MCA 15-6-134
Taxable Assessment Rate: .0247 (taxable market assessment rate established by the state legislature)
Annual Impact on a $500,000.00
$245.56