Institutional Federal Compliance Report 2021

______________________________________________________________________________________________ STATE OF NEW YORK • 87

Business-Type Activities Debt The State has issued bonds for educational facilities for SUNY and CUNY Senior Colleges through DASNY. Such debt, totaling $13.4 billion, is funded by payments from the State’s General Fund. The remainder of the debt of SUNY and CUNY ($1.3 billion) is funded from student fees and other oper- ating aid provided by the State. The following represents year-end principal bal- ances (at June 30, 2017 for SUNY and CUNY) for lease/purchase and other financing arrangements for business-type activities (amounts in millions):

In prior years, the State defeased certain of its obligations under lease/purchase and other financing arrangements, whereby proceeds of new obligations were placed in an irrevocable trust to provide for all future debt service payments on the defeased obliga- tions. At March 31, 2018, approximately $2.2 billion of such defeased obligations were outstanding. The assets and liabilities related to these defeased obliga- tions are not reported in the accompanying basic finan- cial statements.

Beginning Outstanding, as Restated

Ending

Issued

Redeemed

Outstanding

Dormitory Authority: SUNY educational facilities . . . . . . . . . . . . . . . . . . . . . . . . . . . $ Unamortized premium . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . SUNY dormitory facilities . . . . . . . . . . . . . . . . . . . . . . . . . . . . . Unamortized premium . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . CUNY educational facilities . . . . . . . . . . . . . . . . . . . . . . . . . . . Unamortized premium . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . Total Dormitory Authority . . . . . . . . . . . . . . . . . . . . . . . . . SUNY capital lease commitments . . . . . . . . . . . . . . . . . . . . . . . . SUNY certificates of participation . . . . . . . . . . . . . . . . . . . . . . . . . SUNY other State-supported debt . . . . . . . . . . . . . . . . . . . . . . . . SUNY other long-term debt . . . . . . . . . . . . . . . . . . . . . . . . . . . . . CUNY capital lease commitments . . . . . . . . . . . . . . . . . . . . . . . . CUNY mortgage loan commitments . . . . . . . . . . . . . . . . . . . . . . . CUNY certificates of participation . . . . . . . . . . . . . . . . . . . . . . . . Total (See Note 8) . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . $ The following represents a year-end summary at June 30, 2017 of future minimum debt service pay- ments on the bonds issued by DASNY for SUNY,

8,360 $ —00000 $

227 $

8,133 653 650 4,257 328 58

688 682 61

—00000 —00000 —00000

35 32

3

4,253 306

192 43 235

188 21 506

14,350

14,079

407 11 48 41 44 67 10

58

53

412

—00000 —00000 —00000 —00000 —00000 1

3 5 6 1 2

8

43 35 45 66

—00000

8

14,978 $

294 $

576 $

14,696

including interest rates ranging from 1.39 percent to 5.88 percent (amounts in millions):

Fiscal Year

Principal

Interest

Total

2018 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . $ 2019 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 2020 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 2021 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 2022 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 2023-2027 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 2028-2032 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 2033-2037 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 2038-2042 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 2043-2047 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . Total . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . $

388 $

434 $

822 729 656 654 754

312 252 261 373

417 404 393 381

2,121 1,726 1,695 1,380 275

1,593 1,106 678 257

3,714 2,832 2,373 1,637 297

22

8,783 $

5,685 $

14,468