Institutional Federal Compliance Report 2021

STATE OF NEW YORK

Notes to Schedule of Expenditures of Federal Awards

March 31, 2018

SUNY participates in the Federal Direct Student Loans program (CFDA No. 84.268), which provides federal loans directly to students rather than through private lending institutions. SUNY is responsible only for the origination of the loan (i.e., determining student eligibility and disbursing loan proceeds to the borrower). The Direct Loan Servicer is then responsible for overall servicing and collection of the loan. During the year ended March 31, 2018, SUNY processed approximately $1.2 billion of new loans under the Federal Direct Student Loans program, which are included in the Schedule. The program is administered by the Federal government; therefore, new loans made during the year are reported in the Schedule, whereas the outstanding loan balances are not. (b) Home Investment Partnerships Program The State administers the Home Investment Partnerships (HOME) Program (CFDA No. 14.239) through the Housing Trust Fund Corporation. A portion of the HOME Program payments are in the form of low-interest loans made to not-for-profit and for-profit organizations to construct multi-family apartment buildings. Loans outstanding at March 31, 2018 amounted to $227 million. The following table displays activity for the HOME Program loans outstanding at March 31, 2018 (in thousands):

CFDA

Beginning

Ending balance

number

Program title

balance

Additions

Deletions

14.239 Home Investment Partnerships Program

$

218,512

8,445

—

226,957

(c) Hurricane Sandy Community Development Block Grant Disaster Recovery Grants The State administers the Hurricane Sandy Community Development Block Grant Disaster Recovery (CDBG-DR) Grants program (CFDA No. 14.269) through the Governor’s Office of Storm Recovery. A portion of the program payments are in the form of loans. Loans outstanding as of March 31, 2018 amounted to $62.5 million. The following table displays activity for the Hurricane Sandy CDBG-DR Grants program at March 31, 2018 (in thousands):

CFDA

Beginning

Ending balance

number

Program title

balance

Additions

Deletions

14.269 Hurricane Sandy CDBG-DR

$

41,412

21,106

—

62,518

15

(Continued)