FY 2018 Capital Program and Financing Plan Andrew M. Cuomo, Governor Robert F. Mujica Jr., Budget Director Table of Contents Introduction ................................................................................................................................................. 1 Reporting on State Debt ..................................................................................................................... 2 For More Information ............................................................................................................................ 2 Executive Summary ................................................................................................................................. 5 FY 2018 Capital Spending Disbursements and Financing Sources ........................................ 5 Capital and Debt At-A-Glance ........................................................................................................... 6 FY 2018 Capital Plan ............................................................................................................................ 7 Use of Monetary Settlements .......................................................................................................... 12 Capital Projects Spending Overview ............................................................................................. 18 Debt Outstanding ................................................................................................................................ 18 Debt Issuances .................................................................................................................................... 18 Debt Retirements ................................................................................................................................ 19 Debt Service ......................................................................................................................................... 19 Debt Affordability Measures ............................................................................................................ 19 Debt Reform Act Limit ....................................................................................................................... 20 Capital Program and Financing Plan .............................................................................................. 25 FY 2018 Capital Projects Spending ............................................................................................... 25 Capital Project Appropriations........................................................................................................ 26 Annual Capital Spending Disbursements and Debt Impacts .................................................. 27 Financing FY 2018 Capital Projects Spending ........................................................................... 29 FY 2018 Debt Issuances ................................................................................................................... 30 FY 2018 Debt Retirements ................................................................................................................32 FY 2018 Debt Outstanding ............................................................................................................... 34 FY 2018 Debt Service ........................................................................................................................35 Five-Year Capital Plan ..........................................................................................................................39 Multi-Year Capital Projects Spending ............................................................................................39 Transportation................................................................................................................................... 41 Parks and Environment ................................................................................................................. 43 Economic Development and Government Oversight ...........................................................45 Health ................................................................................................................................................. 47 Social Welfare ................................................................................................................................. 49 Education ......................................................................................................................................... 50 Higher Education ............................................................................................................................ 51 Public Protection .............................................................................................................................53 Mental Hygiene ...............................................................................................................................54 General Government .................................................................................................................... 55 Other ................................................................................................................................................. 56 Financing Sources of Capital Projects Spending ...................................................................... 58 Authority Bond Financing ............................................................................................................ 58 General Obligation Bond Financing ......................................................................................... 60 State and Federal PAYGO Sources and Uses ....................................................................... 60 Table of Contents Agency Capital Program Plans ......................................................................................................... 65 Transportation ......................................................................................................................................... 65 Parks and Environment ......................................................................................................................... 69 Economic Development and Government Oversight ................................................................... 73 Health … .................................................................................................................................................... 78 Social Welfare .......................................................................................................................................... 80 Education .................................................................................................................................................. 85 Higher Education .................................................................................................................................... 86 Public Protection ..................................................................................................................................... 89 Mental Hygiene ...................................................................................................................................... 94 General Government ............................................................................................................................. 98 Other......... ................................................................................................................................................ 100 Debt Affordability ................................................................................................................................. 103 State Debt as a Percent of Personal Income ............................................................................. 103 State Debt Outstanding ................................................................................................................... 104 State Debt Per Capita ...................................................................................................................... 105 Debt Service ....................................................................................................................................... 107 Detailed Data .......................................................................................................................................... 113 Interest Rate Exchange Agreements and Variable Rate Exposure ...................................... 113 Bond Authorizations .......................................................................................................................... 115 State and Federal Pay-As-You-Go Financing ............................................................................. 118 General Obligation and Authority Bond Financing .................................................................. 120 Capital Projects Funds Financial Plan .......................................................................................... 122 State Debt Detail ............................................................................................................................... 123 Debt Outstanding ......................................................................................................................... 124 Debt Service ..................................................................................................................................