Precision Analytics Inc. is dedicated to providing practical research in the field of Public and Municipal Finance. Samples of our published material are provided below. To see a more detailed portion of any of these materials, click on the title.
This widely read article describes the significance of opportunity cost analysis in the structured finance decision-making process. It uses opportunity cost analysis as a framework for evaluating alternative structuring options such as deep discount bonds, par bonds, bond insurance, and call options. The article also examines refunding decisions using opportunity cost analysis. (Published in the Municipal Finance Journal, Volume 14 - Number 3.)
This article is one of the first to fully examine the long-term implications of leveraging the State revolving funds established under the Federal Clean Water and Drinking Water programs. The article compares the performance of alternative revolving fund financing mechanisms from a long-term capacity and equity perspective. (Published in the Municipal Finance Journal, Volume 16 - Number 1.)
This textbook provides a comprehensive analysis of the structured finance process. It describes in detail the sizing and structuring elements related to bond financings. It provides examples of a wide range of structuring protocols such as level debt service, uniform, proportional, fill, and level principal. It also provides an important discussion of transactions in a programmatic context and provides valuable insights into financial program design. (Published by The Linear Press, Chestnut Ridge, New York).
The purpose of revenue curve analysis is to provide a framework within which the design of financial structures can be evaluated. Revenue curve analysis evolves from the idea that revenue utility is the proper criterion for evaluating financial performance. Revenue utility measures the productivity of each dollar pledged to a bonding program. (Published in the Municipal Finance Journal, Volume 21 - Number 3.)
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