Institutional Federal Compliance Report 2021

____________________________________________________________________________________________ STATE OF NEW YORK • 231

Pledged Revenue Coverage (cont’d) LAST TEN FISCAL YEARS (Cash basis of accounting) (Amounts in thousands)

New York State Sales Tax Revenue Bonds (c)

Sales Tax Revenues

Revenue Bond Tax Fund

Operating Expenses

Net Available Annual Debt Debt Service

Fiscal Year

Receipts

Revenues

Service

Coverage

2014 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . $ 2,954,095 $ 2015 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 3,026,568 2016 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 3,121,259 2017 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 3,241,634 2018 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 3,388,283 Source: Office of the State Comptroller Notes: New York Local Government Assistance Corporation Bonds

277

$ 2,953,818 3,026,561 3,120,639 3,241,007 3,387,723

$ 17,829

165.67 34.91

7

86,686 361,897 569,097 625,077

620 627 560

8.62 5.69 5.42

(a) An amount equal to twenty-five percent of the State’s sales tax, less refunds to taxpayers, is to be deposited in the Local Government Assistance Tax Fund (LGATF). The monies of such Fund are reserved for payment to the New York Local Government Assistance Corporation to enable it to meet principal and interest on its bonds. Pursuant to Section 92-r(5) of the State Finance Law, monies in the LGATF in excess of debt service requirements and administrative expenses of the New York Local Government Assistance Corporation are required to be transferred to the General Fund. New York State Personal Income Tax Revenue Bonds (b) An amount equal to twenty-five percent of the State’s Personal Income Tax (PIT) receipts, less refunds to taxpayers, is to be deposited in the Revenue Bond Tax Fund (RBTF). The monies of such Fund are reserved for payment of debt service on Personal Income Tax Revenue Bonds. Pursuant to Section 92-z(5) of the State Finance Law, monies in the RBTF in excess of debt service requirements are required to be transferred to the General Fund. New York State Sales Tax Revenue Bonds (c) An amount equal to twenty-five percent of the State’s sales tax, less refunds to taxpayers, is to be deposited in the Sales Tax Revenue Bond Tax Fund (STRBTF). The monies of such Fund are reserved for payment of debt service on Sales Tax Revenue Bonds. Pursuant to Section 92-h(5) of the State Finance Law, monies in the STRBTF in excess of debt service requirements are required to be transferred to the General Fund.