Institutional Federal Compliance Report 2021

______________________________________________________________________________________________ STATE OF NEW YORK • 25

The net position deficit in unrestricted governmental activities, which increased by $2.9 billion (3.7 percent) in 2019, exists primarily because the State has issued debt for purposes not resulting in a capital asset related to State governmental activities and because of the obligation related to other postemployment benefits ($51 billion). Such outstanding debt included: eliminating the need for seasonal borrowing by the LGAC ($1.2 billion); and borrowing for local highway and bridge projects ($4.4 billion), local mass transit projects ($2.1 billion), and a wide variety of grants and other expenditures not resulting in State capital assets ($14.3 billion). This deficit in unrestricted net position of governmental activities can be expected to continue for as long as the State continues to have obligations outstanding for purposes other than the acquisition of State governmental capital assets. The net position deficit in business-type activities decreased by $155 million (1.8 percent) to $8.3 billion in 2019 as compared to $8.5 billion in 2018, as restated. The improvement in net position deficit for business-type activities was due to employer contributions and other revenue exceeding unemployment benefit payments for the Unemployment Insurance Fund ($323 million) and Lottery net income exceeding education aid transfers ($62 million). This was partially offset by CUNY Senior Colleges’ expenses exceeding revenues and State support ($155 million) and SUNY expenses exceeding revenues and State support ($75 million). The following table (Table 2) was derived from the current and prior year government-wide Statements of Activities: Table 2 Changes in Net Position for the Fiscal Years Ended March 31, 2019 and 2018 (Amounts in millions) Governmental Business-Type Total Activities Activities* Primary Government 2019 2018** 2019 2018** 2019 2018** Revenues: Program revenues: Charges for services . . . . . . . . . . . . . . . . . . $ 17,129 $ 15,557 $ 15,781 $ 15,293 $ 32,910 $ 30,850 Operating grants and contributions . . . . . . . 64,582 63,983 5,526 5,468 70,108 69,451 Capital grants and contributions . . . . . . . . . 1,548 1,436 37 61 1,585 1,497 General revenues: Taxes . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 80,235 79,956 —00000 —00000 80,235 79,956 Other . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 1,837 1,762 779 861 2,616 2,623 Total revenues . . . . . . . . . . . . . . . . . . . . 165,331 162,694 22,123 21,683 187,454 184,377 Expenses: Education . . . . . . . . . . . . . . . . . . . . . . . . . . . . 37,324 36,134 —00000 —00000 37,324 36,134 Public health . . . . . . . . . . . . . . . . . . . . . . . . . . 75,445 73,447 —00000 —00000 75,445 73,447 Public welfare . . . . . . . . . . . . . . . . . . . . . . . . . 14,135 14,006 —00000 —00000 14,135 14,006 Public safety . . . . . . . . . . . . . . . . . . . . . . . . . . 7,297 8,345 —00000 —00000 7,297 8,345 Transportation . . . . . . . . . . . . . . . . . . . . . . . . . 11,142 10,141 —00000 —00000 11,142 10,141 Other . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 17,812 17,982 —00000 —00000 17,812 17,982 Lottery . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . —00000 —00000 6,838 6,694 6,838 6,694 Unemployment insurance . . . . . . . . . . . . . . . . —00000 —00000 2,164 2,316 2,164 2,316 State University of New York . . . . . . . . . . . . . . —00000 —00000 11,699 11,499 11,699 11,499 City University of New York . . . . . . . . . . . . . . . —00000 —00000 3,670 3,521 3,670 3,521 Total expenses . . . . . . . . . . . . . . . . . . . 163,155 160,055 24,371 24,030 187,526 184,085 Increase (decrease) in net position before transfers . . . . . . . . . . . . . . . . . . . . . . . 2,176 2,639 (2,248) (2,347) (72) 292 Transfers . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . (2,983) (2,611) 2,403 2,083 (580) (528) Changes in net position . . . . . . . . . . . . (807) 28 155 (264) (652) (236) Net position, beginning of year, as restated . . (3,320) 28,580 (8,489) 333 (11,809) 28,913 Effect of adoption of GASBS No. 75 and 81 . . — 00000 (31,928) — 00000 (8,558) — 00000 (40,486) Net position, end of year . . . . . . . . . . . . . . . . . $ (4,127) $ (3,320) $ (8,334) $ (8,489) $ (12,461) $ (11,809) **As of June 30, 2018 and 2017 for SUNY and CUNY activities **Prior year columns have been restated for the cumulative effect of the adoption of GASBS No. 75 and SUNY adoption of GASBS No. 81