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

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.

City Government NYC Independent Budget Office (IBO) Dataset 6ggx-itps 22 fields
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Dataset fields
Showing 25 real records
General Obligation (GO)
New York City Annual Debt Service Expense Dollars In Millions: General Obligation (GO) • Fy 2020: $3,391 • Fy 2019: $3,713
New York City Annual Debt Service Expense Dollars In Millions
General Obligation (GO)
Fy 2020
$3,391
Fy 2019
$3,713
Fy 2018
$3,782
Fy 2017
$3,783
Fy 2016
$3,895
Fy 2015
$3,706
Fy 2014
$3,671
Fy 2013
3756
Fy 2012
3804
Fy 2011
3660
Fy 2010
3679
Fy 2009
3479
Fy 2008
3493
Fy 2007
3379
Fy 2006
2925
Fy 2005
2937
Fy 2004
2777
Fy 2003
2379
Fy 2002
2695
Fy 2001
2813
Fy 2000
2668
Current Year Debt Service Paid in Current Year
New York City Annual Debt Service Expense Dollars In Millions: Current Year Debt Service Paid in Current Year • Fy 2020: 2,122 • Fy 2019: 1,811
New York City Annual Debt Service Expense Dollars In Millions
Current Year Debt Service Paid in Current Year
Fy 2020
2,122
Fy 2019
1,811
Fy 2018
2,222
Fy 2017
2,023
Fy 2016
1,942
Fy 2015
3,085
Fy 2014
944
Fy 2013
2416
Fy 2012
1020
Fy 2011
772
Fy 2010
80
Fy 2009
126
Fy 2008
153
Fy 2007
175
Fy 2006
1076
Fy 2005
1968
Fy 2004
2366
Fy 2003
1706
Fy 2002
583
Fy 2001
290
Fy 2000
655
Current Year Debt Service Prepaid in Prior Year(s) (2)
New York City Annual Debt Service Expense Dollars In Millions: Current Year Debt Service Prepaid in Prior Year(s) (2) • Fy 2020: 1,269 • Fy 2019: 1,902
New York City Annual Debt Service Expense Dollars In Millions
Current Year Debt Service Prepaid in Prior Year(s) (2)
Fy 2020
1,269
Fy 2019
1,902
Fy 2018
1,560
Fy 2017
1,760
Fy 2016
1,953
Fy 2015
621
Fy 2014
2,727
Fy 2013
1340
Fy 2012
2784
Fy 2011
2888
Fy 2010
1287
Fy 2009
3073
Fy 2008
3314
Fy 2007
3205
Fy 2006
1848
Fy 2005
969
Fy 2004
404
Fy 2003
663
Fy 2002
2097
Fy 2001
2509
Fy 2000
2001
Debt Service for GO Bonds Defeased in 2007 (3)
New York City Annual Debt Service Expense Dollars In Millions: Debt Service for GO Bonds Defeased in 2007 (3) • Fy 2020: - 0 • Fy 2019: - 0
New York City Annual Debt Service Expense Dollars In Millions
Debt Service for GO Bonds Defeased in 2007 (3)
Fy 2020
- 0
Fy 2019
- 0
Fy 2018
- 0
Fy 2017
- 0
Fy 2016
- 0
Fy 2015
- 0
Fy 2014
- 0
Fy 2013
0
Fy 2012
0
Fy 2011
0
Fy 2010
277
Fy 2009
279
Fy 2008
27
Fy 2007
0
Fy 2006
0
Fy 2005
0
Fy 2004
0
Fy 2003
0
Fy 2002
0
Fy 2001
0
Fy 2000
0
Debt Service for GO Bonds Defeased in 2008 (4)
New York City Annual Debt Service Expense Dollars In Millions: Debt Service for GO Bonds Defeased in 2008 (4) • Fy 2020: - 0 • Fy 2019: - 0
New York City Annual Debt Service Expense Dollars In Millions
Debt Service for GO Bonds Defeased in 2008 (4)
Fy 2020
- 0
Fy 2019
- 0
Fy 2018
- 0
Fy 2017
- 0
Fy 2016
- 0
Fy 2015
- 0
Fy 2014
- 0
Fy 2013
0
Fy 2012
0
Fy 2011
0
Fy 2010
2036
Fy 2009
0
Fy 2008
0
Fy 2007
0
Fy 2006
0
Fy 2005
0
Fy 2004
0
Fy 2003
0
Fy 2002
0
Fy 2001
0
Fy 2000
0
Short Term Debt
New York City Annual Debt Service Expense Dollars In Millions: Short Term Debt • Fy 2020: - 0 • Fy 2019: - 0
New York City Annual Debt Service Expense Dollars In Millions
Short Term Debt
Fy 2020
- 0
Fy 2019
- 0
Fy 2018
- 0
Fy 2017
- 0
Fy 2016
- 0
Fy 2015
- 0
Fy 2014
- 0
Fy 2013
0
Fy 2012
0
Fy 2011
0
Fy 2010
0
Fy 2009
0
Fy 2008
0
Fy 2007
0
Fy 2006
0
Fy 2005
0
Fy 2004
7
Fy 2003
11
Fy 2002
14
Fy 2001
14
Fy 2000
12
Transitional Finance Authority (TFA)
New York City Annual Debt Service Expense Dollars In Millions: Transitional Finance Authority (TFA) • Fy 2020: 3,062 • Fy 2019: 2,618
New York City Annual Debt Service Expense Dollars In Millions
Transitional Finance Authority (TFA)
Fy 2020
3,062
Fy 2019
2,618
Fy 2018
2,288
Fy 2017
2,345
Fy 2016
2,019
Fy 2015
2,033
Fy 2014
1,649
Fy 2013
1689
Fy 2012
1407
Fy 2011
1066
Fy 2010
1219
Fy 2009
1046
Fy 2008
743
Fy 2007
898
Fy 2006
1297
Fy 2005
944
Fy 2004
680
Fy 2003
537
Fy 2002
451
Fy 2001
407
Fy 2000
247
Current Year Debt Service Paid in Current Year
New York City Annual Debt Service Expense Dollars In Millions: Current Year Debt Service Paid in Current Year • Fy 2020: 512 • Fy 2019: 444
New York City Annual Debt Service Expense Dollars In Millions
Current Year Debt Service Paid in Current Year
Fy 2020
512
Fy 2019
444
Fy 2018
181
Fy 2017
297
Fy 2016
181
Fy 2015
556
Fy 2014
1,641
Fy 2013
810
Fy 2012
617
Fy 2011
695
Fy 2010
191
Fy 2009
138
Fy 2008
164
Fy 2007
685
Fy 2006
350
Fy 2005
544
Fy 2004
56
Fy 2003
537
Fy 2002
451
Fy 2001
407
Fy 2000
247
Current Year Debt Service Prepaid in Prior Year(s) (2)
New York City Annual Debt Service Expense Dollars In Millions: Current Year Debt Service Prepaid in Prior Year(s) (2) • Fy 2020: 2,550 • Fy 2019: 2,174
New York City Annual Debt Service Expense Dollars In Millions
Current Year Debt Service Prepaid in Prior Year(s) (2)
Fy 2020
2,550
Fy 2019
2,174
Fy 2018
1,909
Fy 2017
1,734
Fy 2016
1,501
Fy 2015
1,362
Fy 2014
- 0
Fy 2013
879
Fy 2012
790
Fy 2011
371
Fy 2010
646
Fy 2009
546
Fy 2008
546
Fy 2007
213
Fy 2006
947
Fy 2005
400
Fy 2004
624
Fy 2003
0
Fy 2002
0
Fy 2001
0
Fy 2000
0
Debt Service for TFA Bonds Defeased in 2007 (5)
New York City Annual Debt Service Expense Dollars In Millions: Debt Service for TFA Bonds Defeased in 2007 (5) • Fy 2020: - 0 • Fy 2019: - 0
New York City Annual Debt Service Expense Dollars In Millions
Debt Service for TFA Bonds Defeased in 2007 (5)
Fy 2020
- 0
Fy 2019
- 0
Fy 2018
- 0
Fy 2017
- 0
Fy 2016
- 0
Fy 2015
- 0
Fy 2014
- 0
Fy 2013
0
Fy 2012
0
Fy 2011
0
Fy 2010
382
Fy 2009
362
Fy 2008
33
Fy 2007
0
Fy 2006
0
Fy 2005
0
Fy 2004
0
Fy 2003
0
Fy 2002
0
Fy 2001
0
Fy 2000
0
Debt Service for TFA Bonds Defeased in 2013 (6)
New York City Annual Debt Service Expense Dollars In Millions: Debt Service for TFA Bonds Defeased in 2013 (6) • Fy 2020: - 0 • Fy 2019: - 0
New York City Annual Debt Service Expense Dollars In Millions
Debt Service for TFA Bonds Defeased in 2013 (6)
Fy 2020
- 0
Fy 2019
- 0
Fy 2018
- 0
Fy 2017
113
Fy 2016
103
Fy 2015
99
Fy 2014
7
Fy 2013
0
Fy 2012
0
Fy 2011
0
Fy 2010
0
Fy 2009
0
Fy 2008
0
Fy 2007
0
Fy 2006
0
Fy 2005
0
Fy 2004
0
Fy 2003
0
Fy 2002
0
Fy 2001
0
Fy 2000
0
Debt Service for STAR TFA Bonds Defeased in 2015 (7)
New York City Annual Debt Service Expense Dollars In Millions: Debt Service for STAR TFA Bonds Defeased in 2015 (7) • Fy 2020: - 0 • Fy 2019: - 0
New York City Annual Debt Service Expense Dollars In Millions
Debt Service for STAR TFA Bonds Defeased in 2015 (7)
Fy 2020
- 0
Fy 2019
- 0
Fy 2018
198
Fy 2017
201
Fy 2016
234
Fy 2015
16
Fy 2014
- 0
Fy 2013
0
Fy 2012
0
Fy 2011
0
Fy 2010
0
Fy 2009
0
Fy 2008
0
Fy 2007
0
Fy 2006
0
Fy 2005
0
Fy 2004
0
Fy 2003
0
Fy 2002
0
Fy 2001
0
Fy 2000
0
Conduit Debt
New York City Annual Debt Service Expense Dollars In Millions: Conduit Debt • Fy 2020: 101 • Fy 2019: 96
New York City Annual Debt Service Expense Dollars In Millions
Conduit Debt
Fy 2020
101
Fy 2019
96
Fy 2018
214
Fy 2017
101
Fy 2016
158
Fy 2015
225
Fy 2014
260
Fy 2013
309
Fy 2012
245
Fy 2011
214
Fy 2010
208
Fy 2009
160
Fy 2008
278
Fy 2007
154
Fy 2006
243
Fy 2005
189
Fy 2004
139
Fy 2003
116
Fy 2002
166
Fy 2001
138
Fy 2000
127
Current Year Service Paid in Current Year
New York City Annual Debt Service Expense Dollars In Millions: Current Year Service Paid in Current Year • Fy 2020: 101 • Fy 2019: 96
New York City Annual Debt Service Expense Dollars In Millions
Current Year Service Paid in Current Year
Fy 2020
101
Fy 2019
96
Fy 2018
214
Fy 2017
101
Fy 2016
158
Fy 2015
225
Fy 2014
229
Fy 2013
184
Fy 2012
245
Fy 2011
214
Fy 2010
67
Fy 2009
80
Fy 2008
113
Fy 2007
80
Fy 2006
155
Fy 2005
118
Fy 2004
67
Fy 2003
116
Fy 2002
111
Fy 2001
65
Fy 2000
89
Current Year Service Prepaid in Prior Year(s) (2)
New York City Annual Debt Service Expense Dollars In Millions: Current Year Service Prepaid in Prior Year(s) (2) • Fy 2020: - 0 • Fy 2019: - 0
New York City Annual Debt Service Expense Dollars In Millions
Current Year Service Prepaid in Prior Year(s) (2)
Fy 2020
- 0
Fy 2019
- 0
Fy 2018
- 0
Fy 2017
- 0
Fy 2016
- 0
Fy 2015
- 0
Fy 2014
31
Fy 2013
125
Fy 2012
0
Fy 2011
0
Fy 2010
110
Fy 2009
46
Fy 2008
165
Fy 2007
74
Fy 2006
88
Fy 2005
71
Fy 2004
73
Fy 2003
0
Fy 2002
56
Fy 2001
73
Fy 2000
38
Debt Service for Jay Street Development Corporation (Conduit Debt) Bonds Defeased in 2007…
Fy 2020: - 0 • Fy 2019: - 0 • Fy 2018: - 0
New York City Annual Debt Service Expense Dollars In Millions
Debt Service for Jay Street Development Corporation (Conduit Debt) Bonds Defeased in 2007 (8)
Fy 2020
- 0
Fy 2019
- 0
Fy 2018
- 0
Fy 2017
- 0
Fy 2016
- 0
Fy 2015
- 0
Fy 2014
- 0
Fy 2013
0
Fy 2012
0
Fy 2011
0
Fy 2010
31
Fy 2009
34
Fy 2008
0
Fy 2007
0
Fy 2006
0
Fy 2005
0
Fy 2004
0
Fy 2003
0
Fy 2002
0
Fy 2001
0
Fy 2000
0
Municipal Assistance Corporation (MAC)
New York City Annual Debt Service Expense Dollars In Millions: Municipal Assistance Corporation (MAC) • Fy 2020: - 0 • Fy 2019: - 0
New York City Annual Debt Service Expense Dollars In Millions
Municipal Assistance Corporation (MAC)
Fy 2020
- 0
Fy 2019
- 0
Fy 2018
- 0
Fy 2017
- 0
Fy 2016
- 0
Fy 2015
- 0
Fy 2014
- 0
Fy 2013
0
Fy 2012
0
Fy 2011
0
Fy 2010
0
Fy 2009
0
Fy 2008
3
Fy 2007
10
Fy 2006
10
Fy 2005
111
Fy 2004
502
Fy 2003
225
Fy 2002
463
Fy 2001
451
Fy 2000
386
Current Year Debt Service Paid in Current Year
New York City Annual Debt Service Expense Dollars In Millions: Current Year Debt Service Paid in Current Year • Fy 2020: - 0 • Fy 2019: - 0
New York City Annual Debt Service Expense Dollars In Millions
Current Year Debt Service Paid in Current Year
Fy 2020
- 0
Fy 2019
- 0
Fy 2018
- 0
Fy 2017
- 0
Fy 2016
- 0
Fy 2015
- 0
Fy 2014
- 0
Fy 2013
0
Fy 2012
0
Fy 2011
0
Fy 2010
0
Fy 2009
0
Fy 2008
3
Fy 2007
10
Fy 2006
10
Fy 2005
111
Fy 2004
502
Fy 2003
225
Fy 2002
5
Fy 2001
0
Fy 2000
0
Current Year Debt Service Paid in Prior Year(s) (2)
New York City Annual Debt Service Expense Dollars In Millions: Current Year Debt Service Paid in Prior Year(s) (2) • Fy 2020: - 0 • Fy 2019: - 0
New York City Annual Debt Service Expense Dollars In Millions
Current Year Debt Service Paid in Prior Year(s) (2)
Fy 2020
- 0
Fy 2019
- 0
Fy 2018
- 0
Fy 2017
- 0
Fy 2016
- 0
Fy 2015
- 0
Fy 2014
- 0
Fy 2013
0
Fy 2012
0
Fy 2011
0
Fy 2010
0
Fy 2009
0
Fy 2008
0
Fy 2007
0
Fy 2006
0
Fy 2005
0
Fy 2004
0
Fy 2003
0
Fy 2002
458
Fy 2001
451
Fy 2000
386
Change in Net Equity Contribution in Bond Refunding that Accrued to Future Years' Debt Se…
Fy 2020: $0 • Fy 2019: $0 • Fy 2018: $11
New York City Annual Debt Service Expense Dollars In Millions
Change in Net Equity Contribution in Bond Refunding that Accrued to Future Years' Debt Service Savings
Fy 2020
$0
Fy 2019
$0
Fy 2018
$11
Fy 2017
$33
Fy 2016
$3
Fy 2015
-$24
Fy 2014
-$7
Fy 2013
7
Fy 2012
-19
Fy 2011
0
Fy 2010
-1
Fy 2009
7
Fy 2008
-8
Fy 2007
-1
Fy 2006
0
Fy 2005
2
Fy 2004
1
Fy 2003
0
Fy 2002
42
Fy 2001
-29
Fy 2000
35
Subtotal: Adjusted Service Expense of Outstanding Debt as defined the Mayor and Comptroll…
Fy 2020: $6,554.0 • Fy 2019: $6,427.0 • Fy 2018: $6,295.0
New York City Annual Debt Service Expense Dollars In Millions
Subtotal: Adjusted Service Expense of Outstanding Debt as defined the Mayor and Comptroller
Fy 2020
$6,554.0
Fy 2019
$6,427.0
Fy 2018
$6,295.0
Fy 2017
$6,262.0
Fy 2016
$6,074.9
Fy 2015
$5,940.1
Fy 2014
$5,572.5
Fy 2013
5761.0
Fy 2012
5437.0
Fy 2011
4939.8
Fy 2010
5104.7
Fy 2009
4691.5
Fy 2008
4508.5
Fy 2007
4439.4
Fy 2006
4474.4
Fy 2005
4182.6
Fy 2004
4099.0
Fy 2003
3257.4
Fy 2002
3817.0
Fy 2001
3780.3
Fy 2000
3463.7
TFA Building Aid Revenue Bond (BARB) Debt Service (9)
New York City Annual Debt Service Expense Dollars In Millions: TFA Building Aid Revenue Bond (BARB) Debt Service (9) • Fy 2020: $467 • Fy 2019: $471
New York City Annual Debt Service Expense Dollars In Millions
TFA Building Aid Revenue Bond (BARB) Debt Service (9)
Fy 2020
$467
Fy 2019
$471
Fy 2018
$570
Fy 2017
$555
Fy 2016
$486
Fy 2015
$430
Fy 2014
$411
Fy 2013
296
Fy 2012
309
Fy 2011
273
Fy 2010
225
Fy 2009
107
Fy 2008
62
Fy 2007
0
Fy 2006
0
Fy 2005
0
Fy 2004
0
Fy 2003
0
Fy 2002
0
Fy 2001
0
Fy 2000
0
TSASC Debt Service (10)
New York City Annual Debt Service Expense Dollars In Millions: TSASC Debt Service (10) • Fy 2020: 82 • Fy 2019: 72
New York City Annual Debt Service Expense Dollars In Millions
TSASC Debt Service (10)
Fy 2020
82
Fy 2019
72
Fy 2018
73
Fy 2017
65
Fy 2016
139
Fy 2015
68
Fy 2014
80
Fy 2013
70
Fy 2012
71
Fy 2011
69
Fy 2010
72
Fy 2009
89
Fy 2008
85
Fy 2007
83
Fy 2006
301
Fy 2005
93
Fy 2004
114
Fy 2003
65
Fy 2002
53
Fy 2001
56
Fy 2000
0
TOTAL: Adjusted Debt Service Expense of Outstanding Debt as Defined by IBO
New York City Annual Debt Service Expense Dollars In Millions: TOTAL: Adjusted Debt Service Expense of Outstanding Debt as Defined by IBO • Fy 2020: $7,103 • Fy 2019: $6,970
New York City Annual Debt Service Expense Dollars In Millions
TOTAL: Adjusted Debt Service Expense of Outstanding Debt as Defined by IBO
Fy 2020
$7,103
Fy 2019
$6,970
Fy 2018
$6,938
Fy 2017
$6,882
Fy 2016
$6,700
Fy 2015
$6,438
Fy 2014
$6,063
Fy 2013
6127
Fy 2012
5817
Fy 2011
5283
Fy 2010
5402
Fy 2009
4888
Fy 2008
4656
Fy 2007
4523
Fy 2006
4775
Fy 2005
4276
Fy 2004
4213
Fy 2003
3323
Fy 2002
3870
Fy 2001
3836
Fy 2000
3464
Municipal Water Finance Authority (MWFA)
New York City Annual Debt Service Expense Dollars In Millions: Municipal Water Finance Authority (MWFA) • Fy 2020: $587 • Fy 2019: $655
New York City Annual Debt Service Expense Dollars In Millions
Municipal Water Finance Authority (MWFA)
Fy 2020
$587
Fy 2019
$655
Fy 2018
$360
Fy 2017
$496
Fy 2016
$525
Fy 2015
$456
Fy 2014
$775
Fy 2013
960
Fy 2012
1078
Fy 2011
1124
Fy 2010
841
Fy 2009
780
Fy 2008
758
Fy 2007
684
Fy 2006
637
Fy 2005
511
Fy 2004
490
Fy 2003
497
Fy 2002
496
Fy 2001
496
Fy 2000
519
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