Institutional Federal Compliance Report 2021

The following is a summary of future minimum rental commitments under real property and equipment leases with terms exceeding one year (amounts in millions): ______________________________________________________________________________________________ STATE OF NEW YORK • 95 Governmental Activities— Collateralized Borrowings

In December 2010, $102 million of Pledged Assess- ment Revenue Bonds, Series 2010A, were issued by DASNY. These bonds are special revenue obligations of DASNY. Principal and interest on the Series 2010A Bonds are payable from the pledged assessments to be assessed and collected by the Chair of the Workers’ Compensation Board. At March 31, 2019, principal and interest outstanding were $20 million and $1 million, respectively. Annual principal and interest payments will be continuing through Decem- ber 1, 2020. In December 2013, $370 million of Employer Assessment Revenue Bonds, Series 2013A, were issued by DASNY. These bonds are special revenue obliga- tions of DASNY. Principal and interest on the Series 2013A Bonds are payable from employer assessments to be assessed and collected by the Chair of the Workers’ Compensation Board. At March 31, 2019, principal and interest outstanding were $313 million and $134 million, respectively. Annual principal and interest payments will continue through December 1, 2034. The State determined that these transactions meet the criteria for collateralized borrowings under GASBS No. 48, Sales and Pledges of Receivables and Future Revenues and Intra-Entity Transfers of Assets and Future Revenues , since the pledged revenues are for- mally committed to directly collateralize or secure debt of a component unit. These Pledged and Employer Assessment Revenue Bonds are reported as collateralized borrowings in the State’s financial statements (amounts in millions):

Governmental Activities

Fiscal Year

2020 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . $ 2021 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 2022 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 2023 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 2024 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 2025-2029 . . . . . . . . . . . . . . . . . . . . . . . . . . 2030-2034 . . . . . . . . . . . . . . . . . . . . . . . . . . 2035-2039 . . . . . . . . . . . . . . . . . . . . . . . . . . 2040-2044 . . . . . . . . . . . . . . . . . . . . . . . . . . 2045-2049 . . . . . . . . . . . . . . . . . . . . . . . . . . 2050-2054 . . . . . . . . . . . . . . . . . . . . . . . . . . 2055-2059 . . . . . . . . . . . . . . . . . . . . . . . . . . Total . . . . . . . . . . . . . . . . . . . . . . . . . . . . . $

270 224 200 190 169 608 208

15 12 14 15 12

1,937

Business-type activities reported rental expendi- tures of $131 mi l l ion and the fol lowing future minimum rental commitments under real property and equipment leases with terms exceeding one year at year-end (June 30, 2018 for SUNY and CUNY and March 31, 2019 for Lottery) (amounts in millions):

Business-Type

Fiscal Year

Activities

2019 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . $ 2020 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 2021 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 2022 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 2023 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 2024-2028 . . . . . . . . . . . . . . . . . . . . . . . . . . 2029-2033 . . . . . . . . . . . . . . . . . . . . . . . . . . 2034-2038 . . . . . . . . . . . . . . . . . . . . . . . . . . 2039-2043 . . . . . . . . . . . . . . . . . . . . . . . . . . 2044-2048 . . . . . . . . . . . . . . . . . . . . . . . . . . 2049-2053 . . . . . . . . . . . . . . . . . . . . . . . . . . 2054-2058 . . . . . . . . . . . . . . . . . . . . . . . . . . 2059-2063 . . . . . . . . . . . . . . . . . . . . . . . . . . Total . . . . . . . . . . . . . . . . . . . . . . . . . . . . . $

124 122 114 103 91 369 235 95 61 21 21 21 14

1,391

Fiscal Year

Principal

Interest

Total

2020 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . $ 2021 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 2022 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 2023 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 2024 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 2025-2029 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 2030-2034 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 2035-2039 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . Total . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . $

25 $

14 $

39 38 28 28 28

25 15 16 17 93

13 13 12 11 47 24

140 140 27 468

116 26

1

333 $

135 $