NYC Independent Budget Office (IBO) Debt Service Since FY 2000

6ggx-itpsCity Government22 columns

New York City Annual Debt Service Expense from FY2000 – FY2020 Dollars in millions SOURCES: IBO; Mayor's Office of Management and Budget (OMB); New York City Comprehensive Annual Financial Report of the Comptroller (various years); Annual Report of the Comptroller on Capital Debt and Obligations (various years); New York City Municipal Water Finance Authority Comprehensive Annual Financial Report (various years). NOTES: (1) Debt service is the cost to New York City of repaying its outstanding debt, including both principal and interest. The figures in the table have been adjusted to reflect debt service that was originally scheduled for payment in each year since 2000. (2) New York City is required to have a balanced annual budget. In years when it runs a surplus, the primary means the city uses to comply with this requirement is to use up some or all of the surplus by prepaying some of the subsequent years' debt service expenses. As a result, the cash outlay for debt service in a given year is not an accurate representation of the true cost of debt service in that year. (3) The defeasance of $536 million of GO bonds in 2007 reduced debt service in 2008, 2009, and 2010. Debt service in the table is presented as if the defeasance had not occurred. (4) The defeasance of $1.986 billion of GO bonds in 2008 reduced debt service in 2010. Debt service in the table is presented as if the defeasance had not occurred. (5) The defeasance of $718 million of TFA bonds in 2007 reduced debt service in 2008, 2009, and 2010. Debt service in the table is presented as if the defeasance had not occurred. (6) The defeasance of $196 million of TFA bonds in 2013 reduced debt service in 2014, 2015, and 2016. Debt service in the table is presented as if the defeasance had not occurred. (7) The defeasance of $637 million of TFA bonds in 2015 with savings from Sales Tax Asset Receivable Corporation (STAR) reduced debt service in 2015, 2016, 2017 and 2018. Debt service in the table is presented as if the defeasance had not occurred. (8) The defeasance of $65 million of Jay Street Development Corporation (JSDC) bonds in 2007 reduced debt service in 2009 and 2010. Debt service in the table is presented as if the defeasance had not occurred. (9) TFA BARBs and TSASC are not included in OMB's or the Comptroller's definitions of New York City outstanding debt. For an explanation of these items, and their inclusion in NYC IBO's definition of New York City outstanding debt, please see New Outstanding Debt. (10) In 2006, TSASC restructured its outstanding indebtedness. This included a one time expense of $161 million for redeeming all bonds issued under a secured loan agreement with the United States Department of Transportation, via the department's Transportation Infrastructure Finance and Innovation Act (TIFIA) program. Additionally, all prior year TSASC bond series were defeased, leaving only series 2006-1 bonds outstanding.

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Quality

C72.6 / 100

From a 25-row sample across 22 columns.

completeness100/ 25% weight

consistency68/ 20% weight

accuracy85/ 20% weight

timeliness0/ 15% weight

usability85/ 20% weight

· No obvious temporal column — limits time-series joins

Related datasets

NYC Independent Budget Office (IBO) Debt Outstanding Since FY 2000

Sample rows

new_york_city_annual_debt_service_expense_dollars_in_millions	fy_2020	fy_2019	fy_2018	fy_2017	fy_2016	fy_2015	fy_2014	fy_2013	fy_2012	fy_2011	fy_2010
General Obligation (GO)	$3,391	$3,713	$3,782	$3,783	$3,895	$3,706	$3,671	3756	3804	3660	3679
Current Year Debt Service Paid in Current Year

Columns

22 queryable · 22 profiled

The machine field names SoQL needs, with the publisher's own description of each.

Field	Type	Description	Null	Values
`new_york_city_annual_debt_service_expense_dollars_in_millions`	text	—	0%	`Current Year Debt Servic…Current Year Debt Servic…Current Year Service Pai…`
`fy_2020`	categorical	—	0%	`- 0101$467`of 14
`fy_2019`	categorical	—	0%	`- 096$471`of 14
`fy_2018`	categorical	—	0%	`- 0`

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