Case Study

Pennsylvania School Districts

PFM currently serves as financial advisor to 135 of the 501 school districts in the state, many of which are the State's fastest growing and have the greatest capital needs. Since 1997, PFM has assisted Pennsylvania school districts with financings that total over $6.8 billion. These financing plans are designed to maximize state reimbursement, increase interest earnings, and provide financing at the lowest possible interest cost. Among the strategies that we have used are interim financings via general obligation notes and bond pool borrowings, fixed and variable rate structures, financings through the State Public School Building Authority, and Qualified Zone Academy Bonds.

PFM has also gained a great deal of expertise in dealing with architects, engineers and construction managers for school projects. We coordinate public hearings for new school buildings, structure financings to match project draw schedules, and design financings that maximize the amount of state reimbursement received for a project. Finally, we have been very successful in helping our clients receive ratings upgrades. In the past year alone, PFM has helped nearly a dozen school district clients in Pennsylvania receive upgrades of one and two "notches."