Institutional Federal Compliance Report 2021

Capital Projects Funds

Capital Projects Funds are used to account for the financial resources used for the acquisition or construction of major State-owned capital facilities and for capital assistance grants to local governments and public authorities. State Capital Projects Fund— to account for the construction or acquisition of State capital assets and the payments to local governments and public authorities for capital assistance financed primarily by transfers from the General Fund, bond funds and proceeds from various financial arrangements. Dedicated Highway and Bridge Trust Fund— to account for taxes and fees that are earmarked for financing State, county, town, and village highway, parkway, bridge, aviation or port facility capital projects. Environmental Protection Fund— to account for dedicated revenues that will be used to assist local governments, not-for-profit corporations, and fund State initiatives to protect the environment and protect open space. Dedicated Infrastructure Investment Fund— to account for projects, works, activities or purposes necessary to support statewide investments including loans to public authorities. Bond Funds— to account for the proceeds of bonds issued for capital purposes. A separate bond fund is established to account for the bond proceeds of each bond issue authorized by public referendum, including the Environmental Quality Protection Bond Fund, the Rebuild and Renew New York Transportation Bond Fund, the Environmental Quality Bond Act Fund, the Clean Water/Clean Air Bond Fund and the following included in the Miscellaneous category: the Energy Conservation Through Improved Transportation Bond Fund, the Pure Waters Bond Fund, the Transportation Capital Facilities Bond Fund, the Rail Preservation and Development Bond Fund, the Transportation Infrastructure Renewal Bond Fund and the Accelerated Capacity and Transportation Improve- ment Bond Fund. Hazardous Waste Remedial Fund— to account for revenues earmarked for the clean-up of hazardous waste disposal sites. Federal Capital Projects Fund— to account for capital projects financed from federal grants. Housing Program Fund— to account for the Low Income Housing Trust Fund Program and the Affordable Home Ownership Development Program that are financed by the New York State Housing Finance Agency. Mental Hygiene Facilities Capital Improvement Fund— to account for mental hygiene capital projects. Correctional Facilities Capital Improvement Fund— to account for correctional facility capital projects financed by the Urban Development Corporation. Miscellaneous— to account for various capital projects financed from the sale of land or other resources, gifts, grants or other miscellaneous revenue sources earmarked for capital purposes or from transfers from the New York State Infrastructure Trust Account.