STATE OF NEW YORK OFFICE OF THE STATE COMPTROLLER DIVISION OF PAYROLL, ACCOUNTING AND REVENUE SERVICES Comptroller’s Annual Report to the Legislature on State Funds Cash Basis of Accounting (Pursuant to Sec. 8(9) of the State Finance Law) FISCAL YEAR ENDED MARCH 31, 2007 THOMAS P. DiNAPOLI STATE COMPTROLLER STATE OF NEW YORK DIVISION OF PAYROLL, ACCOUNTING AND REVENUE SERVICES BUREAU OF ACCOUNTING OPERATIONS COMPTROLLER'S ANNUAL REPORT TO THE LEGISLATURE ON STATE FUNDS - CASH BASIS OF ACCOUNTING FISCAL YEAR ENDED MARCH 31, 2007 TABLE OF CONTENTS Combined Statements of Cash Receipts, Disbursements and Changes in Fund Balances/Equity Governmental Funds - Receipts (Graphic Illustration) 3 Governmental Funds - Disbursements (Graphic Illustration) 4 Exhibit A Governmental Funds 5 Exhibit B Proprietary Funds 6 Exhibit C Trust Funds 7 Exhibit D Governmental Funds - Budgetary Basis Report - Financial Plan and Actual 8 Notes to Financial Statements 10 Combining Statements of Cash Receipts, Disbursements and Changes in Fund Balances/Equity Exhibit A-1 General Fund 16 Exhibit A-2 Special Revenue Funds 18 Exhibit A-3 Debt Service Funds 29 Exhibit A-4 Capital Projects Funds 31 Exhibit B-1 Enterprise Funds 38 Exhibit B-2 Internal Service Funds 40 Exhibit C-1 Private Purpose Trust Funds 41 Exhibit C-2 Pension Trust Fund 42 Exhibit C-3 Agency Funds 43 Exhibit C-4 Sole Custody Funds and Accounts 46 Supplementary Schedules Schedule 1 Governmental Funds - Schedule of Net Tax Receipts 54 Schedule 2 Governmental Funds - Comparative Statement of Receipts - by Fund Type and Major Source 55 Schedule 3 Governmental Funds - Schedule of Tax Receipts : Fiscal Years 1997-98 thru 2006-07 57 Schedule 4 Governmental Funds - Combining Schedule of Tax Receipts - by Fund 58 Schedule 5 Governmental Funds - State Tax Receipts per Capita : Fiscal Years 1997-98 thru 2006-07 60 Governmental Funds - Receipts : Ten Year Trend Analysis (Graphic Illustration) 61 Governmental Funds - Receipts to Disbursements : Ten Year Trend Analysis (Graphic Illustration) 62 Schedule 6 Governmental Funds - Schedule of Receipts, Disbursements and Other Financing Sources (Uses) : Fiscal Years 1997-98 thru 2006-07 63 Governmental Funds - Local Assistance Grants (Graphic Illustration) 64 Schedule 7 Governmental Funds - Local Assistance Disbursements - by Object of Expense 65 STATE OF NEW YORK DIVISION OF PAYROLL, ACCOUNTING AND REVENUE SERVICES BUREAU OF ACCOUNTING OPERATIONS COMPTROLLER'S ANNUAL REPORT TO THE LEGISLATURE ON STATE FUNDS - CASH BASIS OF ACCOUNTING FISCAL YEAR ENDED MARCH 31, 2007 TABLE OF CONTENTS Supplementary Schedules (continued) Appropriation Transactions (in Force) : Schedule 8 Governmental Funds 68 Schedule 9 Proprietary Funds 72 Schedule 10 Fiduciary Funds 73 Appropriated Loans Receivable : Schedule 11 Summary of Transactions 74 Schedule 12 General Fund 75 Schedule 13 Special Revenue Funds 76 Schedule 14 Capital Projects Funds 77 State Debt Activity : Schedule 15 Statement of State General Obligation Debt Activity 79 Schedule 16 General Obligation Debt - Authorized, Issued and Outstanding 80 Schedule 17 General Obligation Debt - Principal and Interest Payments : Fiscal Years 1997-98 thru 2006-07 81 Schedule 18 Future General Obligation Debt Service Requirements Payable from Debt Service Funds 84 Schedule 19 Debt Service Funds - Lease Purchase and Other Financing Agreements Disbursements 86 Schedule 20 Future Lease/Purchase and Contractual Obligation Requirements Payable from Debt Service Funds 87 State Debt Outstanding as of March 31 : Fiscal Years 1997-98 thru 2006-07 (Graphic Illustration) 89 Schedule 21 State Debt Outstanding as of March 31 : Fiscal Years 1997-98 thru 2006-07 90 Schedule 21a State Supported Debt Outstanding as of March 31 Per Capita : Fiscal Years 1997-98 thru 2006-07 91 Schedule 21b State Funded Debt Obligations Outstanding as of March 31 Per Capita : Fiscal Years 1997-98 thru 2006-07 92 Schedule 21c State Related Debt Obligations Outstanding as of March 31 Per Capita : Fiscal Years 1997-98 thru 2006-07 93 Combining Statements of Selected Departmental Disbursements : Schedule 22 General Fund 94 Schedule 23 Special Revenue Funds - General 95 Schedule 24 Special Revenue Funds - Federal 96 Schedule 25 Debt Service Funds 97 Schedule 26 Capital Projects Funds 98 Other Supplementary Schedules : Schedule 27 Tax Stabilization Reserve Account - Statement of Net Cash Transactions : Fiscal Years 1946-2007 99 Schedule 28 Report of Investment Yields, Portfolio Balances and Interest Earnings 101 Schedule 29 Short-Term Investment Portfolio Balances 102 Schedule 30 Temporary Loans Outstanding as of March 31 : Fiscal years 1997-98 thru 2006-07 103 Schedule 31 Temporary Loans Outstanding 104 Appendix State Fund Structure (Graphic Illustration) 107 State Fund Structure and List of Joint Custody Funds 108 GOVERNMENTAL FUNDS - RECEIPTS FISCAL YEAR ENDED MARCH 31, 2007 GENERAL FUND SPECIAL REVENUE Consumption/Use Other Taxes Personal Income Tax 2.8% 2.1% 7.0% Transfers In * 20.0% Transfers In * 6.7% Federal Receipts Personal Income Tax 0.3% 44.7% Consumption/Use Miscellaneous Receipts 15.9% 22.2% Federal Receipts Miscellaneous Receipts 58.7% 4.4% Business Taxes 2.6% Business Taxes 12.6% DEBT SERVICE CAPITAL PROJECTS Consumption/Use Federal Receipts Transfers In * 17.7% 32.0% 26.5% Personal Income Tax 43.7% Transfers In * 6.9% State Bonds and Notes 2.8% Miscellaneous Receipts 4.9% Business Taxes 9.5% Miscellaneous Receipts 34.3% Other Taxes 5.0% Consumption/Use Other Taxes *Transfers from Other Funds 14.4% 2.3% -3- *Transfers from Other Funds 3 GOVERNMENTAL FUNDS - DISBURSEMENTS FISCAL YEAR ENDED MARCH 31, 2007 GENERAL FUND SPECIAL REVENUE General State Charges 8.5% Departmental General State Charges Operations Transfers Out * 1.4% 14.2% 5.1% Transfers Out * Departmental Operations 6.9% 18.1% Local Assistance Grants Local Assistance Grants 66.5% 79.3% DEBT SERVICE CAPITAL PROJECTS Local Assistance Grants Departmental 11.5% Debt Service Operations Transfers Out * 25.5% .2% 12.2% Capital Projects 76.3% Transfers Out * 74.3% *Transfers to Other Funds 4 STATE OF NEW YORK GOVERNMENTAL FUNDS COMBINED STATEMENT OF CASH RECEIPTS, EXHIBIT A DISBURSENMENTS AND CHANGES IN FUND BALANCES FISCAL YEAR ENDED MARCH 31, 2007 (Amounts in thousands) TOTAL GOVERNMENTAL FUNDS GENERAL SPECIAL REVENUE DEBT SERVICE CAPITAL PROJECTS 2006-07 2005-06 RECEIPTS: Personal Income Tax................................................................ $ 22,939,516 $ 3,993,970 $ 7,646,505 $ -- $ 34,579,991 $ 30,812,925 Consumption/Use Taxes and Fees........................................... 8,185,646 1,598,368 2,511,476 1,160,955 13,456,445 13,856,872 Business Taxes......................................................................... 6,467,640 1,517,100 -- 620,995 8,605,735 7,088,135 Other Taxes............................................................................... 1,075,312 -- 875,094 147,000 2,097,406 1,819,609 Miscellaneous Receipts............................................................. 2,267,625 12,715,055 848,284 2,247,027 18,077,991 18,320,166 Federal Receipts....................................................................... 151,494 33,689,660 -- 1,737,898 35,579,052 35,129,199 Total Receipts..................................................................... 41,087,233 53,514,153 11,881,359 5,913,875 112,396,620 107,026,906 DISBURSEMENTS: Local Assistance Grants: General Purpose..................................................................... 1,187,014 -- -- -- 1,187,014 1,069,694 Education................................................................................ 18,500,929 9,434,483 -- 44,607 27,980,019 25,806,119 Social Services........................................................................ 11,274,151 28,652,306 -- (53) 39,926,404 38,742,505 Health and Environment.......................................................... 1,385,658 3,332,696 -- 113,168 4,831,522 3,783,726 Mental Hygiene....................................................................... 1,188,507 314,241 -- 86,559 1,589,307 1,434,432 Transportation......................................................................... 60,015 2,264,844 -- 327,547 2,652,406 2,693,315 Criminal Justice....................................................................... 181,166 237,490 -- -- 418,656 344,333 Emergency Management and Security Services……………… 83,475 203,729 -- -- 287,204 96,450 Miscellaneous.......................................................................... 441,203 1,253,409 -- 157,577 1,852,189 1,065,190 Total Local Assistance Grants……………………………… 34,302,118 45,693,198 -- 729,405 80,724,721 75,035,764 Departmental Operations: Personal Service..................................................................... 6,653,705 4,904,054 -- -- 11,557,759 10,651,675 Non-Personal Service............................................................. 2,665,707 3,259,874 44,084 -- 5,969,665 5,791,527 General State Charges............................................................. 4,403,100 819,738 -- -- 5,222,838 4,727,505 Debt Service, Including Payments on Financing Agreements… -- -- 4,450,737 -- 4,450,737 3,701,386 Capital Projects......................................................................... -- 9,491 -- 4,828,698 4,838,189 4,433,573 Total Disbursements.......................................................... 48,024,630 54,686,355 4,494,821 5,558,103 112,763,909 104,341,430 Excess (Deficiency) of Receipts over Disbursements.............. (6,937,397) (1,172,202) 7,386,538