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Program 22-922: State Debt Service

Program Authorization: Article 7, Section 9(B) of the 1974 State Constitution

PROGRAM DESCRIPTION

This program provides the necessary funding to pay all general obligations bonds that are secured by the full faith and credit of the state becoming due and payable during Fiscal Year 2000.

STATE DEBT SERVICE (in thousands)
 

$

TOTAL AUTHORIZED STATE DEBT (estimated)

$2,574,350

Outstanding State Debt - as of June 30, 1999:

Interest

$764,814

Principal

$1,809,536

TOTAL OUTSTANDING STATE DEBT - as of June 30, 1999

$2,574,350

Estimated State Debt Service Cost for FY 2000:

Interest

$100,041

Principal

$29,322

less Reserve Use

($1,328)

TOTAL ESTIMATED STATE DEBT SERVICE COST FOR FY 2000

$128,035

 

RESOURCE ALLOCATION FOR THE PROGRAM

This agency's recommended appropriation does not include any funds for short-term debt.

See below for long-term debt.

SOURCE OF FUNDING

The source of funding for this program is state General Fund.

 

ANALYSIS OF RECOMMENDATION

GENERAL FUND

TOTAL

T.O.

DESCRIPTION

 

 

 

 

 

$194,184,000

$194,184,000

0

 

INITIAL - FISCAL YEAR 1998-1999

 

 

 

 

 

 

 

 

 

BA-7 TRANSACTIONS:

$0

$0

0

 

None

 

 

 

 

 

$194,184,000

$194,184,000

0

 

EXISTING OPERATING BUDGET November 20, 1998

 

 

 

 

 

($30,567,043)

($30,567,043)

0

 

Other Adjustments - Debt service amortization schedule change for prior bond sales

($20,000,000)

($20,000,000)

0

 

Other Adjustments Regular Session 97 four (4) year debt defeasance Fiscal Year 1999 Existing Operating Budget (E.O.B.) funding level reflected a $100,000,000 savings associated with the Regular Session 97 defeasance plan. Fiscal Year 00 savings associated with this defeasance plan is $120,000,000; therefore, an adjustment of $20,000,000 to the E.O.B. was made in calculating FY 00 debt requirements.

($16,450,000)

($16,450,000)

0

 

Other Adjustments - Regular Session 98 three (3) year debt defeasance Fiscal Year 1999 Existing Operating Budget funding level reflected a $55.1 million savings associated with the Regular Session 98 defeasance plan. Fiscal Year 00 savings associated with this defeasance plan is $71.55 million; therefore, an adjustment of $16,450,000 to the E.O.B. was made in calculating FY 00 debt requirements.

$868,043

$868,043

0

 

Other Adjustments Use of reserve funding in lieu of State General Fund. The FY 99 Existing Operating Budget anticipates bond reserves totaling $2,196,014 are available for paying debt requirements. For Fiscal Year 00 it is anticipated that $1,327,971 of bond reserves will be available for paying debt requirements. Therefore, an adjustment of $868,043 to the E.O.B. was made in calculating FY 00 debt requirements.

 

 

 

 

 

$128,035,000

$128,035,000

0

 

TOTAL RECOMMENDED

 

 

 

 

 

($66,149,000)

($66,149,000)

0

 

DIFFERENCE (TOTAL RECOMMENDED AND EXISTING OPERATING BUDGET)

 

 

 

 

 

The total means of financing for this program is recommended at 65.9% of the existing operating budget. It represents 87.6% of the total request ($146,100,000) for this program. The recommended decrease from the existing operating budget is due in part to variances in the savings for the two fiscal years associated with the early payment of debt service and costs associated with debt service schedule changes. The net of these adjustments as itemized in the analysis above accounts for the difference in total recommended to existing operating budget. Total requested factored in a $200 million bond sale in Fiscal Year 1999. Upon further evaluation of the cash needs of the ongoing and anticipated capital outlay projects, it was determined that no bond sale is necessary in the current fiscal year. Therefore, the $18 million cost associated with the bond sale that was included in the total request has not been included in the Executive Budget total recommended.

PROFESSIONAL SERVICES

This program does not have funding for Professional Services for Fiscal Year 1999-2000.

OTHER CHARGES

The allocation of Debt Service by agency is as follows:

STATE AGENCIES

01-100

Office Of The Governor

$234,956

01-107

Division Of Administration-State Buildings

$3,532,605

01-112

Department Of The Military

$499,991

01-115

Facility Planning

$725,560

01-124

Louisiana Superdome

$268,201

01-129

Louisiana Commission On Law Enforcement

$2,399,168

01-130

Department Of Veterans Affairs

$111,212

04-139

Secretary Of State

$535,347

04-144

Commissioner Of Elections

$412,262

04-160

Department Of Agriculture

$73,745

05-252

Economic Development-Secretary

$726,637

06-262

Office Of State Library

$230,339

06-263

Office Of State Museum

$239,442

06-264

Office Of State Parks

$2,173,609

06-267

Office Of Tourism

$43,403

07-272

Dotd-Office Of The Secretary

$21,108

07-276

Office Of Highways

$43,517,264

08-400

Corrections-Administrative

$923

08-401

La Correctional And Industrial School

$187,200

08-402

Louisiana State Penitentiary

$3,425,094

08-403

Office Of Youth Development

$433,106

08-406

Louisiana Correctional Institute For Women

$278,623

08-409

Dixon Correctional Facility

$287,726

08-410

Work Training Facility-South

$235,352

08-412

Work Training Facility-North

$87,861

08-413

Hunt Correctional Center

$1,201,563

08-414

Wade Correctional Facility

$524,529

08-416

Washington Correctional Facility

$916,343

08-418

Public Safety Management And Finance

$443,792

08-419

Office Of State Police

$749,460

09-305

Dhh Office Of The Secretary

$30,211

09-311

New Orleans Home And Rehabilitation Center

$119,259

09-312

E.A. Conway Medical Center

$943,388

09-313

Earl K. Long Medical Center

$16,095

09-314

Huey P. Long Medical Center

$25,593

09-315

University Medical Center

$559,357

09-316

Moss Regional Medical Center

$67,281

09-317

Lallie Kemp Regional Medical Center

$15,435

09-318

Washington-St. Tammany Regional Medical Ctr

$9,762

09-319

Villa Feliciana Chronic Disease

$114,642

09-321

Leonard J. Chabert Medical Center

$175,195

09-322

Medical Center Of Louisiana In New Orleans

$2,240,643

09-326

Office Of Public Health

$55,804

09-330

Office Of Mental Health

$117,412

09-331

Central Louisiana State Hospital

$326,907

09-332

East Louisiana State Hospital

$136,145

09-333

Southeast La State Hospital

$215,168

09-335

Greenwell Springs Hospital

$18,997

09-337

Feliciana Forensic Facility

$34,960

09-338

New Orleans Adolescent Hospital

$18,469

09-340

Office Of Mental Retardation

$14,248

09-341

Peltier-Lawless Developmental Center

$21,108

09-342

Metropolitian Development Center

$190,366

09-344

Hammond State School

$22,691

09-346

Northwest State School

$12,665

09-347

Pinecrest State School

$95,777

09-348

Ruston Developmental Center

$132

09-349

Southwest Developmental Center

$2,992

09-350

Health Education Authority Of Louisiana

$3,298

09-351

Office Of Substance Abuse

$14,644

09-370

Office Of Community Services

$5,409

09-374

Division Of Rehabilitation Services

$4,353

12-440

Department Of Revenue And Taxation

$10,026

13-850

Deq-Office Of The Secretary

$88,389

13-854

Deq-Office Of Legal Affairs & Enforcement

$3,298

16-512

Wildlife And Fisheries-Secretary

$58,310

16-513

Office Of Wildlife

$415,296

16-514

Office Of Fisheries

$86,014

19-600

Lsu Board Of Supervisors

$419,518

19-601

Lsu Baton Rouge

$4,322,987

19-602

Lsu Alexandria

$76,516

19-603

University Of New Orleans

$2,969,475

19-604

Lsu Medical Center

$3,533,581

19-605

Lsu-Eunice

$113,059

19-606

Lsu Shreveport

$725,581

19-607

Lsu-Agricultural Center

$98,547

19-608

Paul M. Herbert Law Center

$43,403

19-615

Southern University Board Of Supervisors

$69,128

19-616

Southern University Baton Rouge

$2,658,662

19-617

Southern University New Orleans

$435,270

19-618

Southern University-Shreveport

$168,203

19-620

Board Of Trustees For State Colleges

$309,757

19-621

Nicholls State University

$450,750

19-623

Grambling State University

$1,578,232

19-625

Louisiana Tech University

$1,883,174

19-627

Mcneese State University

$1,182,829

19-629

Northeast Louisiana University

$1,475,964

19-631

Northwestern State University

$935,446

19-634

Southeastern Louisiana University

$996,685

19-640

University Of Southwestern Louisiana

$2,352,364

19-641

Delgado Community College

$654,554

19-643

Elaine P. Nunez Community College

$269,784

19-651

Louisiana School For The Visually Impaired

$15,963

19-653

Louisiana School For The Deaf

$1,025,444

19-655

Louisiana Special Education Center

$39,841

19-657

Louisiana School For Math, Science, & The Arts

$31,926

19-662

Louisiana Educational Television Authority

$313,028

19-666

La School For The Gifted And Talented

$175,986

19-674

Louisiana Universities Marine Consortium

$266,486

19-701

New Orleans Regional Tech Inst/College

$184,693

19-702

Jefferson Technical Inst/College

$2,638

19-703

Sidney N. Collier Tech Inst/College

$34,036

19-704

West Jefferson Tech Inst/College

$41,556

19-710

Regional Management Center 2, Baton Rouge

$23,746

19-711

Baton Rouge Regional Tech/Inst

$81,793

19-712

Sullivan Technical Inst/College

$1,979

19-713

Hammond Area Tech Inst/College

$4,485

19-715

Jumonville Tech Institute/College

$10,026

19-716

Florida Parish Technical Institute

$1,055

19-717

Westside Tech Inst/College

$6,596

Livingston Vo-Tech (Old)

$5,277

Elaine P. Nunez (Old)

$1,979

19-720

Ascension Tech Inst/College

$1,451

19-721

Folkes Technical Inst/College

$5,541

19-730

Houma Vo-Tech Region Iii

$19,789

19-731

South Louisiana Regional Tech Inst/College

$79,154

19-733

Lafourche Technical Inst/College

$7,124

19-734

River Parishes Technical Inst/College

$14,775

19-740

Lafayette Vo-Tech Region Iv

$0

19-741

Lafayette Regional Tech Inst/College

$17,018

19-742

T.H. Harris Technical Institute

$25,066

19-743

Teche Area Technical Inst/College

$26,781

19-745

Evangeline Area Technical Inst/College

$3,562

19-746

Charles B. Coreil Technical Institute

$9,894

19-750

Lake Charles Vo-Tech Region V

$3,694

19-751

Sowela Regional Technical Institute

$72,558

19-752

Jefferson Davis Vo-Tech

$7,915

19-754

Oakdale Technical Institute

$1,187

19-760

Alexandria Vo-Tech Region Vi

$0

19-762

Huey P. Long Technical Inst/College

$38,786

19-763

Avoyelles Technical Institute

$8,311

19-764

Shelby Jackson Technical

$7,915

19-765

Lamar Salter Technical Institute

$8,311

19-770

Regional Managment Center 7-Shreveport

$10,554

19-771

Shreveport Regional Tech Inst

$17,678

19-772

Northwest Louisiana Technical Institute

$19,657

19-778

Claiborne Technical Center

$11,082

19-780

Monroe Vo-Tech Region Viii

$0

19-781

Delta Ouachita Technical Inst/College

$116,093

19-784

Talulah Technical Inst/College

$27,572

19-786

Bastrop Technical Inst/College

$24,406

TOTAL STATE AGENCIES - EXECUTIVE BRANCH

$101,384,041

23-960

Legislative Budgetary Control Council

$574,924

24-JUD

Judiciary Department

$341,287

24-JUD

Judiciary-Circuit Court Of Appeals

$224,403

24-JUD

Judiciary-Court Of Appeal 2nd Circuit

$113,323

TOTAL JUDICIAL AND LEGISLATIVE BRANCHES

$1,253,936

Abbeville Harbor And Terminal

$51,055

Acadia Parish

$10,818

Alexandria

$343,002

Allen Parish Police Jury

$15,831

Almonaster-Michoud Industrial District

$91,423

Atachafalaya Basin Division

$80,856

Audubon Park Commission

$201,844

Avoyelles Parish

$7,915

Baton Rouge Metro Airport

$139,839

Beauregard Parish School Board

$10,554

Benton Junior High School

$5,937

Berwick

$3,298

Biomedical Research Institute Of Nw La

$230,867

Bossier City

$10,554

Bossier Parish

$42,216

Bunkie

$6,596

Caddo Parish

$14,775

Caddo/Bossier Port Commission

$250,655

Calcasieu Parish

$21,108

Calcasieu Parish Sewer District

$8,179

Caldwell Parish

$6,596

Caldwell Parish Law Enforcement

$26,385

Chennault Air Base

$1,108,161

City Of Alexandria

$84,563

City Of New Orleans

$708,827

City Of Plaquemine

$13,192

Concordia Parish Law Enforcement

$37,862

Cottonport

$5,277

Delhi

$2,243

Dequincy

$3,562

East Feliciana Parish

$6,596

England Authority

$31,002

Evangeline Parish

$36,939

Golden Meadow

$5,541

Greater Baton Rouge Port Commission

$90,236

Greater Baton Rouge Zoo

$19,789

Greater Lafourche Port Commission

$181,000

Gretna

$1,583

Hammond Downtown Development District

$3,958

Houma Civic Center

$39,577

House Of Representatives

$145,116

Housing Authority Of New Orleans

$13,192

Iberia Parish

$52,770

Iberia Parish Airport Authority

$4,485

Iberville Water District No. 3

$1,979

Industrial Development Board Of Caddo, Inc.

$46,173

Jeanerette

$3,958

Jean Lafitte

$10,554

Jefferson Davis Parish

$44,063

Jefferson Parish

$206,461

Jefferson Parish Port Commission

$2,902

Kenner

$27,308

Kentwood

$4,222

Lafayette

$9,235

Lafayette Convention And Visitors Commission

$2,638

Lafourche Parish

$19,129

La Cotton Museum

$5,409

Lake Borgne Basin Levee District

$245,378

Lake Charles Port Commission

$506,324

Lake Providence Port Commission

$33,641

Leesville

$70,052

Lockport

$7,915

Louisiana Children's Museum

$19,789

Louisiana Exposition Authority

$158,309

Lower 9th Ward Housing Development

$26,385

Madison Parish Port

$1,979

Madisonville

$3,298

Mississippi River Bridge Authority

$6,121,268

Monroe

$22,427

Morgan City Harbor And Terminal District

$26,385

Mossville

$3,826

Natchitoches Parish

$6,596

Natchitoches

$117,808

National D-Day Museum

$5,277

New Iberia

$21,767

New Orleans

$290,101

New Orleans Business And Industrial District

$19,789

New Orleans Center For Creative Arts

$322,686

New Orleans City Park

$98,283

New Orleans Exhibition Hall

$4,672,480

New Orleans Jazz And Heritage Foundation

$6,596

New Orleans Multi-Service Ctr-Homeless

$4,749

New Orleans Museum Of Art

$26,385

New Orleans Port Commission

$4,106,236

New Orleans Regional Medical Center

$31,662

North Lafourche Conservation Levee

$6,596

North Terrebonne Drainage And Conser

$2,638

North Webster Industrial Park

$9,235

Northeast Economic Development District

$17,150

Northwest La Juvenile Detention Center Auth.

$127,043

Oak Grove

$5,673

Orleans Levee Board

$73,877

Orleans Parish Criminal Sheriff Law Enforce.

$79,154

Plaquemines Parish

$5,277

Plaquemines Parish Law Enforcement

$13,192

Pointee Coupee Parish

$11,214

Pollock

$162,794

Pontchartrain Levee District

$26,385

Port Of New Iberia

$535,083

Rapides Parish Airport Authority

$660

Rapides Primary Health Care Center

$27,044

Red River Parish

$7,915

Richland Parish

$25,461

Sabine Parish

$2,375

Sabine River Authority

$118,731

Seventh Ward St. Bernard

$2,638

Shreveport

$329,810

Society For Environmental Education

$5,277

South Lafourche Levee District

$300,786

South Louisiana Port Commission

$211,078

South Terrebonne Tidal And Conservation

$793,390

St. Bernard Parish

$77,307

St. Bernard Port And Harbor

$492,868

St. Helena Parish

$10,554

St. John The Baptist Parish Law Enforcement

$37,862

St. Landry Parish

$6,332

St. Martin Parish

$17,942

St. Martin Parish School Board

$7,388

St. Mary Parish

$1,583

St. Mary Parish Sewerage District #1

$7,256

Stonewall

$3,826

Tensas Parish

$1,583

Terrebonne Parish

$24,142

Terrebonne Port Commission

$19,789

Treme Cultural Enrichment Program

$660

Union Parish

$83,112

Town Of Lake Arthur

$1,319

Vermilion Parish

$34,300

Vernon Parish School Board

$5,277

Washington Parish

$6,728

Webster Parish

$8,839

West Calcasieu Airport Authority

$5,937

West Carroll Parish School Board

$3,958

West Feliciana Parish School Board

$15,831

West St. Mary Port

$51,186

Westwego

$3,430

Winn Parish

$18,469

Zwolle

$11,873

TOTAL NON-STATE AGENCIES:

$25,397,022

TOTALS:

$128,035,000

ACQUISTIONS AND MAJOR REPAIRS

This program does not have funding for Acquisitions and Major Repairs for Fiscal Year 1999-2000.

 

 


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