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CSU Budget Office

1998-1999 Support Book 2 Documentation

Mandatory Costs: Lease Bond Payments

The four percent appropriation increase associated with the Governor's Compact does not include required increases for CSU's lease bond debt. The 1997/98 Budget Act appropriated $56 million for lease bond payments for capital financing. This appropriation level was augmented by $1.5 million in credits from surplus accounts and reappropriations from 1996/97 of $6.7 million to fund total planned payments of $64.2 million in 1997/98. (Reappropriations typically reflect savings that occur generally from the refinancing of previously sold bonds.) The 1997/98 payment need is currently projected to decrease by $3.5 million. These savings will be reappropriated in 1998/99 to offset payment costs of $70.6 million. The remaining funding need of $67.1 million represents an increase of approximately $6.4 over the 1997/98 projected expenditure of $60.8 million for lease bond payments.

Lease Bond Payments Table