Institutional Federal Compliance Report 2021

______________________________________________________________________________________________ STATE OF NEW YORK • 97 Note 9 Interfund Transactions and Other Transfers Interfund Transfers

Interfund transfers for the year ended March 31, 2018 consisted of the following (amounts in millions):

Transfers To

General

Total

Debt

Other

Governmental

Transfers From

General

Service

Governmental Elimination

Funds

SUNY

CUNY

Total

2,780 $ —0000 $

3,853 $ 1,495

1,216 $

8,321 2,091 15,248 8,096 (27,495)

General . . . . . . . . . . . . . . . . . . . . . . . $ —0000 $ Federal Special Revenue . . . . . . . . . 189 General Debt Service . . . . . . . . . . . . 14,169 Other Governmental . . . . . . . . . . . . . 5,974 Elimination . . . . . . . . . . . . . . . . . . . . . —0000

1,073 $

3,252 $

—0000 —0000 1,705 —0000 —0000 —0000 —0000 2,778

1,306 107 192 —0000

—0000 —0000 —0000 (27,495) (27,495) —0000 —0000 —0000

596 605 225

—0000

14,276 7,871 (27,495) — 0000

367

—0000 —0000

—0000

Total Governmental Funds . . . . . SUNY. . . . . . . . . . . . . . . . . . . . . . . . . Lottery . . . . . . . . . . . . . . . . . . . . . . . . Non-current . . . . . . . . . . . . . . . . . . . . Total . . . . . . . . . . . . . . . . . . . . . . . $

20,332

4,385

4,678

1,583

6,261 285 3,372

285 3,372

212

73

—0000 —0000

—0000 —0000 —0000

—0000 —0000

3,372

2

9

2

7

20,544 $

2,778 $

7,832 $ (27,495) $

3,659 $

4,685 $

1,583 $

9,927

Transfers constitute the transfer of resources from the fund that receives the resources to the fund that utilizes them. Significant transfers include transfers to the General Fund from other funds representing excess revenues not needed in those funds. Transfers to the General Fund from the General Debt Service Fund for excess funds not needed for debt service on revenue bonds backed by personal income and sales tax revenues totaled $13.7 billion. Transfers to the General Fund from Other Governmental Funds are primarily due to: mental health patient fees in excess of debt service and rental reserve requirements of $1.3 billion; excess sales tax receipts not needed for LGAC debt service requirements of $2.9 billion; and excess real property transfer tax receipts from clean water and clean air programs of $944 million. Transfers from the General Fund to the General Debt Service Fund comprise State debt service payments of $1 billion. Transfers from the General Fund to Other Governmental Funds include $1.1 billion to the Ded- icated Infrastructure Investment Fund and $175 million to the State Capital Project Fund for capital projects. Transfers from the General Fund to the Enter- prise Funds comprise State support to the SUNY and CUNY Funds ($4.5 billion). Transfers from the Federal Special Revenue Fund and Other Governmental Funds comprise the federal share of Medicaid payments for a variety of purposes, including transfers to the Mental Health Services Fund for recipients residing in State- operated facilities ($1.4 billion). Transfers from the Lottery to Other Governmental Funds represent Lottery support for school aid payments ($3.4 billion). The eliminations of $27.5 billion represent transfers made between the governmental funds.

Transfers from the governmental funds to the SUNY and CUNY Funds are reported as transfers to other funds by the governmental funds and as State appropriations by the SUNY and CUNY Funds. As explained in Note 1, the amounts reported for the SUNY and CUNY Funds are derived from their annual financial statements for the fiscal year ended June 30, 2017. Therefore, because of the different fiscal year- end for the SUNY and CUNY Funds, total transfers to other funds exceed total transfers from other funds by $528 million. The following is a reconciliation of transfers resulting from different year-ends (amounts in millions):

Governmental Activities transfers: SUNY . . . . . . . . . . . . . . . . . . . . . . . . . . . . $ CUNY . . . . . . . . . . . . . . . . . . . . . . . . . . . . Lottery (Education aid) . . . . . . . . . . . . . . . Total Governmental Activities transfers . . . Business-Type Activities transfers: State . . . . . . . . . . . . . . . . . . . . . . . . . . . . . Federal and State hospital support transfers . . . . . . . . . . . . . . . . . . Education aid . . . . . . . . . . . . . . . . . . . . . . Capital . . . . . . . . . . . . . . . . . . . . . . . . . . . Total Business-Type Activities transfers . . . Total transfers . . . . . . . . . . . . . . . . . . . $

(4,400) (1,583) 3,372 (2,611)

4,522

431

(3,372)

502

2,083

(528)