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California Educational Facilities Authority

Staff Evaluation Process

  • Staff diligence pursuant to Education Code § 94142: "The authority shall establish financial eligibility standards by studying the creditworthiness and earning capacity of each project together with the amount of pledged revenues, debt service coverage, and basic security, in addition to establishing machinery to monitor the ongoing compliance of each project with state authority and bond indenture requirements."
  • Work compiled in staff report
    • Sample staff report form
    • Draft report will be provided to Borrower, Underwriter, Bond Counsel, CEFA's Financial Analyst and Attorney General for review and comment
    • Final report sent to Authority members seven days prior to meeting
  • Staff makes recommendation but Authority retains discretion