MuniNews

Volume 17, Issue 1
News & Views About the Ohio Municipal Finance Industry
Year End StatisticsThis
newsletter is available on our website: www.ohiomac.com
2014 proved to be a productive year for OMAC. During the year, OMAC produced
approximately 474 reports. A breakdown of the 2014 reports is as follows:
Year End Statistics
OMAC Board of Trustees:
2014 proved to be a productive year for OMAC. During the year, OMAC
# of
produced approximately 474 reports. A breakdown
of the 2014 reports is
Descirption
Reports
as follows:
Weekly (Competitive) Notes
22
Weekly
(Competitive)
Bonds
9
Description Number of Report
Post
Sales
Bonds
(Purchaser’s)
15
Weekly (Competitive) Notes 22
Special Notes
(Requested)
190
Weekly (Competitive)
Bonds
9
Post Sales Bonds
15
Special(Purchaser’s)
Bonds (Requested)
179
Special Notes
(Requested)
190
Mortgage
Revenue
10
Special Bonds
(Requested)
179
Hospital
Reports
0
Mortgage Revenue
10
IDR’s
0
Hospital Reports 0
Informational Statement
0
Industrial Development Revenue 0
University
0
Informational Statement 0
Elections Reports
48
University 0
Public Utility
0
Election Reports
48
Revenue
1
Public Utility
0
Total
#
of
Reports
474
Revenue 1
Total Reports Released Chairperson/President
Omar Ganoom
Ross Sinclaire, Columbus
Treasurer
Jeff Freese
KeyBanc Capital Markets, Cleveland
Trustees
John Adams
Fifth Third Securities, Columbus
Michael Burns
Robert W. Baird & Company, Columbus
Amber Burke
RBC Capital Markets, Cincinnati
Christopher Johns
474
Sweney Cartwright, Columbus
Patrick King
Number of Reports
Other Exempt
2%
State Gen.
Oblig.
7%
Other Gen.
Oblig.
27%
January 2015
Stifel, Nicolaus and Company,
Incorporated, Columbus
Timothy McCabe
State Revenue
23%
Huntington Capital Corp., Columbus
Mark Miller
PNC Capital Markets, Columbus
Other
Revenue
41%
The graphs below highlight the 2014 Ohio Bond Sales by Subdivision and Debt Type. Similar to 2013, the State of
Ohio was Primary Issuer with approximately 27% of the overall volume.
Volume of Bond Sales in 2014 - Subdivision
Other
23%
State
27%
Municipal
16%
Schools
22%
County
12%
Volume of Bond Sales in 2014 - Debt Type
Other Exempt
2%
State Gen.
Oblig.
7%
Other Gen.
Oblig.
27%
State Revenue
23%
Bond and Over One Year Note Sales
(-000- omitted)
$12,000,000
$10,500,000
10,014,629
9,847,512
$9,000,000
Other
Revenue
41%
9,418,138
9,061,125
$7,500,000
6,238,626
$6,000,000
$4,500,000
$3,000,000
2010
2011
2012
2013
2014
2014 November Election Results
2
Voters approved 71% of Ohio’s school district levies in the November 4, 2014 general election. Of the one hundred
forty-six (146) school district tax levies on the ballot, one hundred three (103) were approved while forty-three (43) were
defeated.
Of the twenty-five (25) bond issues on the ballot, school districts represented the majority with seventeen (17) followed
by townships with four (4), municipalities with three (3) and miscellaneous with one (1). Of these, fifteen were considered large - $10,000,000 or greater, two (2) were considered intermediate - $5,000,000 to $9,999,999 and eight (8)
were considered small – less than $5,000,000. Voters approved ten (10) or $475,718,370 while rejecting fifteen (15) or
$309,469,833.
The following tables show the results of the bond issues and school tax levies submitted at the November 4, 2014 general
election. The results were compiled with the assistance of the County Boards of Election, and the office of the Secretary
of State.
Bond Issues
The following table compares this years results with those of the past four years.
VOLUME
SUBMITTED
$785,188,203
$1,909,751,950
$839,285,850
$539,305,075
$515,972,412
YEAR
2014
2013
2012
2011
2010
VOLUME
APPROVED
$475,718,370
$1,254,674,020
$486,925,397
$108,582,782
$37,200,000
TABLE I
PCT.
APP.
60.6%
65.7%
58.0%
20.1%
7.2%
NUMBER
SUBMITTED
25
35
31
22
23
NUMBER
APPROVED
10
15
15
6
3
PCT.
APP.
40.0%
42.9%
48.4%
27.3%
13.0%
The second table shows by issue size, the volume and number of each submitted, and the volume and number of each approved (including ratio approved).
TABLE II
Issue Size*
Large
Intermediate
Small
---------------SUBMITTED--------------Volume
No.
Volume
$752,247,203
15
$463,918,370
$15,100,000
2
$7,100,000
$17,241,000
8
$4,700,000
TOTAL
$785,188,203
25
---------------APPROVED--------------% Vol.
No.
% No.
61.6%
6
40.0%
47.0%
1
50.0%
27.3%
3
37.5%
$475,718,370
60.6%
10
*Large - $10,000,000 or greater; Intermediate - $5,000,000 to $9,999,999; Small - less $5,000,000
market update
5.250
general obligation
4.750
Note and Bond Interest Rates
for October thru December
3.750
The following graph compares Ohio short-term
note rates with the Bond Buyer’s 20 year bond
index. The short-term rates represent actual
rates reported to OMAC by Ohio purchasers
and reported on OMAC’s weekly calendar.
Rates
4.250
3.250
2.750
2.250
1.750
1.250
0.750
0.250
Oct.
2014
Nov.
2014
Avg. Ohio (OMAC)
Week
Dec.
2014
20 Yr. Bond (Bond Rate)
40.0%
3
The third table show by subdivision classification, the volume and number of issues approved.
TABLE III
County
Municipality
Township
School District
Miscellaneous
-----------VOLUME----------Submitted
Approved
% App.
$0
$0
0.0%
$11,515,000
$1,800,000
15.6%
$31,600,000
$1,300,000
4.1%
$734,973,203
$465,518,370
63.3%
$7,100,000
$7,100,000
100.0%
TOTAL
$785,188,203
$475,718,370
-----------NUMBER----------Submitted
Approved
% App.
0
0
0.0%
3
1
33.3%
4
1
25.0%
17
7
41.2%
1
1
100.0%
60.6%
25
10
40.0%
The fourth table shows further breakdown of the volume and number of issues approved for school districts.
TABLE IV
City S/D
Local S/D
Jt. Voc. S/D
-----------VOLUME----------Submitted
Approved
% App.
$454,836,156
$313,532,000
68.9%
$280,137,047
$151,986,370
54.3%
$0
$0
0.0%
TOTAL
$734,973,203
$465,518,370
-----------NUMBER----------Submitted
Approved
% App.
8
4
50.0%
9
3
33.3%
0
0
0.0%
63.3%
17
7
41.2%
School District Tax Levies
The first table shows the total new millage levies submitted (number and volume), and also the results thereof.
TABLE I
Type
Current Expense
Current Operating
Emergency
Permanent Improvement
TOTAL
-----------Submitted----------No.
Millage
23
108.93
1
4.90
11
73.94
20
33.86
55
221.63
-----------Approved----------No.
Pct. Millage Pct.
8
34.8 30.45
20.8
1 100.0
4.90 100.0
3
27.3 21.14
28.6
8
40.0 13.06
38.6
20
36.4
69.55
31.4
-----------Defeated----------No. Pct. Millage Pct.
15 65.2
78.48 72.0
0
0.0
0.00
0.0
8
72.7
52.80 71.4
12 60.0
20.80 61.4
35
63.6
152.08
68.6
The second table shows the total renewal millage levies submitted (number and volume), and also the results thereof.
TABLE II
Type
Curr Exp & Perm Impr*
Current Expense
Current Operating
Emergency
Permanent Improvement
TOTAL
-----------Submitted----------No.
Millage
1
6.80
29
144.34
1
4.00
39
211.70
20
36.80
90
403.64
-----------Approved----------No. Pct. Millage Pct.
1 100.0
6.80 100.0
27
93.1 123.24 85.4
1 100.0
4.00 100.0
34
87.2 182.80 86.3
18
90.0
33.45 90.9
81
90.0
350.29
86.8
-----------Defeated----------No. Pct. Millage Pct.
0
0.0
0.00
0.0
1
3.4
20.10 13.9
0
0.0
0.00
0.0
5 12.8
28.90 13.7
1
5.0
1.55
4.2
7
7.8
50.55
12.5
The third table gives a three year comparison (General Elections) by levy type, the total new millage submitted and
approved, with the ratio approved.
Current Expense
Permanent Improvement
Current Operating
Emergency
TOTAL
----------- 2014
Subm.
App.
108.93 30.45
33.86 13.06
4.90
4.90
73.94 21.14
221.63
69.55
TABLE III
----------% App.
28.0
38.6
100.0
28.6
31.4
----------- 2013 ----------Subm.
App. % App.
149.29
69.07
46.3
28.16
2.50
8.9
0.00
0.00
0.0
198.21
49.46
25.0
----------Subm.
177.32
50.93
0.00
295.88
2012 ----------App. % App.
104.42 58.9
10.24 20.1
0.00
0.0
82.89 28.0
375.66
524.13
197.55
121.03
32.2
37.7
4
CALENDAR
Calendar of Issuer Conferences & Outings for 2015
NAME
EVENT
DATE
LOCATION
CAAO
Summer Conference
Winter Conference
June 1 – 4
Nov. 18 – 20
Quail Hollow - Concord, Ohio
Embassy Suites- Dublin, Ohio
CTAO
Spring Meeting
Fall Meeting
May 12 - 14
November 16 - 18
Columbus Marriott NW at Tuttle Crossing – Dublin, Ohio
Columbus Marriott NW at Tuttle Crossing – Dublin, Ohio
GFOA
National Conference
Annual Golf Outing
Annual Fall Conference
Advanced Accounting Seminar
May 31 – June 3
July 27
September 23 - 25
August 6
Pennsylvania Convention Center – Philadelphia, PA
Worthington Hills Country Club- Worthington, Ohio
Hilton Netherland Plaza - Cincinnati, Ohio
Put-In-Bay, Ohio
MFOA
(OML)
OML Annual Conference
MFOA Annual Conference
Northeast Ohio Golf Outing
North-Central Ohio Golf Outing
October 21 - 23
October 29 - 30
July 22
TBD
Renaissance Hotel – Columbus, Ohio
Marriott Northwest - Dublin, Ohio
Lost Nation Municipal Golf Course - Willoughby, Ohio
Woussickett Golf Course – Sandusky, Ohio
NACO
National Conference
July 10 – 13
Charlotte Convention Center – Charlotte, NC
OAPT
Annual Conference
National Conference
Public Fin. Officer Training
CPFA Maintenance Program
Hot Topic Seminar
Sept. 30 – Oct. 2
August 16 - 18
June 8 – 12
June 11 – 12
April 24
The McKinley Grand Hotel – Canton, Ohio
Hilton Chicago - Chicago, Ill.
Kalahari Conference Center – Sandusky, Ohio
Kalahari Conference Center – Sandusky, Ohio
Dutch Heritage Restaurant – Bellville, Ohio
OASBO
SchoolComp Wksp NW Reg
SchoolComp Wksp NE Reg
Effective Leadership Wksp 2014-15
SchoolComp Wksp SE Reg
SchoolComp Wksp SW Reg
SchoolComp Wksp CE Reg
Annual Workshop
New Treasurers Survival Sem.
March 3
March 4
March 5 – 6
March 11
March 26
March 30
April 14 – 17
May 20
Owens Community College – Findlay, Ohio
Northeast Ohio Medical University- Rootstown, Ohio
Ohio Assoc. School Business Officials – Columbus, Ohio
Ohio University Inn & Conference Center- Athens, Ohio
Holiday Inn I-275 North – Cincinnati, Ohio
Ohio Assoc. School Business Officials – Columbus, Ohio
Greater Columbus Convention Center – Columbus, Ohio
Ohio Assoc. School Business Officials – Columbus, Ohio
OMCA
Annual Conference
July 20 - 23
Marriott Northwest – Dublin, Ohio
OSBA
Capital Conference
November 8 – 11
Columbus Convention Center – Columbus, Ohio
(T) - means date or place is tentative.
Red lettering means revised or updated events.
CAAO – County Auditor’s Association of Ohio ----------------- (614) 228-2226 -------------CTAO – County Treasures Association of Ohio ----------------- (614) 517-5072 -------------GFOA – Government Finance Officers Association ------------- (614) 221-1900 -------------MFOA – Municipal Finance Officers Association of Ohio ----- (614) 221-4349 -------------NACO – National Association of Counties ----------------------- (614) 221-5627 -------------OAPT – Ohio Association of Public Treasurers ------------------ (440) 576-3944 -------------OASBO – Ohio Association of School Business Officials ----- (614) 431-9116 -------------OMCA – Ohio Municipal Clerks Association -------------------- (614) 221-4349 -------------OSBA – Ohio School Boards Association ------------------------ (614) 540-4000 --------------
www.caao.org
www.ohiocountytreasurers.org
www.ohgfoa.com
www.omlohio.org
www.naco.org
www.ohioapt.org
www.oasbo-ohio.org
www.omca.us
www.ohioschoolboards.org
If your organization has other events scheduled that you would like to see listed here, please contact
OMAC at 800-969-6622 or email us at [email protected]