Institutional Federal Compliance Report 2021

100 • Notes to Basic Financial Statements _________________________________________________________________________

Interfund Transactions and Other Transfers

Note 9

Interfund Transfers Interfund transfers for the year ended March 31, 2019 consisted of the following (amounts in millions):

Transfers To

General

Total

Debt

Other

Governmental

Transfers From

General

Service

Governmental Elimination

Funds

SUNY

CUNY

Total

2,382 $ —0000 $

3,183 $ 1,548

1,245 $

7,613 2,125 27,682 9,126 (39,989)

General . . . . . . . . . . . . . . . . . . . . . . . $ —0000 $ Federal Special Revenue . . . . . . . . . 246 General Debt Service . . . . . . . . . . . . 26,378 Other Governmental . . . . . . . . . . . . . 7,033 Elimination . . . . . . . . . . . . . . . . . . . . . —0000

801 $

3,185 $

—0000 —0000 1,706 —0000 —0000 —0000 —0000 2,507

1,302 —0000

—0000 —0000 —0000 (39,989) (39,989) —0000 —0000 —0000

577 825 246

—0000

26,378 8,880 (39,989) — 0000 127 3,474 — 0000

479

141

—0000 —0000

—0000

—0000

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

33,657

3,825

4,833

1,724

6,557 127 3,474

33

94

—0000 —0000

—0000 —0000 —0000

—0000 —0000

3,474 —0000

27

27

33,690 $

2,507 $

7,393 $ (39,989) $

3,601 $

4,860 $

1,724 $

10,185

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 rev- enues totaled $26.4 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 $3.3 billion; $555 million trans- ferred from the Healthcare Transformation Fund from proceeds of the sale of Fidelis to the State in 2018; $444 million from tobacco settlement collections and; excess real property transfer tax receipts from clean water and clean air programs of $993 million. Transfers from the General Fund to the General Debt Service Fund comprise State debt service payments of $786 million. Transfers from the General Fund to Other Governmental Funds include $1.3 billion to the Ded- icated Infrastructure Investment Fund and $313 million to the State Capital Project Fund for capital projects and $244 million to the MTA Financial Assistance Fund. Transfers from the General Fund to the Enter- prise Funds comprise State support to the SUNY and CUNY Funds ($4.4 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 ($1.5 billion). Transfers from the Lottery to Other Governmental Funds represent Lottery support for school aid payments ($3.5 billion). The eliminations of $40 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, 2018. 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 $580 million. The following is a reconciliation of transfers resulting from different year-ends (amounts in millions): Governmental Activities transfers: SUNY . . . . . . . . . . . . . . . . . . . . . . . . . . . . $ (4,733) CUNY . . . . . . . . . . . . . . . . . . . . . . . . . . . . (1,724) Lottery (Education aid) . . . . . . . . . . . . . . . 3,474 Total Governmental Activities transfers . . (2,983) Business-Type Activities transfers: State . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 4,824 Federal and State hospital support transfers . . . . . . . . . . . . . . . . . . 779 Education aid . . . . . . . . . . . . . . . . . . . . . . (3,474) Transfers to State . . . . . . . . . . . . . . . . . . . (166) Capital . . . . . . . . . . . . . . . . . . . . . . . . . . . 440 Total Business-Type Activities transfers . . . 2,403 Total transfers . . . . . . . . . . . . . . . . . . . $ (580)