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2014 Session

Budget Bill - HB29 (Introduced)

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Treasury Board

Item 280

Item 280

First Year - FY2013Second Year - FY2014
Bond and Loan Retirement and Redemption (74300)$654,696,794$663,082,662
$659,515,397
Debt Service Payments on General Obligation Bonds (74301)FY2013 $105,983,892FY2014 $98,827,066
$98,866,267
Capital Lease Payments (74302)FY2013 $12,762,630FY2014 $14,089,879
Debt Service Payments on Public Building Authority Bonds (74303)FY2013 $295,531,851FY2014 $283,102,027
$278,354,331
Debt Service Payments on College Building Authority Bonds (74304)FY2013 $240,418,421FY2014 $267,063,690
$268,204,920
Fund Sources: 
GeneralFY2013 $605,053,516FY2014 $613,451,785
$609,884,520
SpecialFY2013 $899,122FY2014 $524,772
Higher Education OperatingFY2013 $29,394,107FY2014 $29,774,267
Federal TrustFY2013 $19,350,049FY2014 $19,331,838

Authority: Title 2.2, Chapter 18; Title 33.1, Chapter 3, Article 5, Code of Virginia; Article X, Section 9, Constitution of Virginia.


A. The Director, Department of Planning and Budget is authorized to transfer appropriations between Items in the Treasury Board to address legislation affecting the Treasury Board passed by the General Assembly.


B.1. Out of the amounts for Debt Service Payments on General Obligation Bonds, the following amounts are hereby appropriated from the general fund for debt service on general obligation bonds issued pursuant to Article X, Section 9 (b), of the Constitution of Virginia:


 


Series

FY 2013

FY 2014


 


 

General Fund

Federal Funds

General Fund

Federal Funds

2002 Refunding

$0

$0

$0

$0

2003A

$2,646,000

$0

$0

$0

2004A

$8,964,000

$0

$8,536,501

$0

2004B Refunding

$11,361,050

$0

$10,908,300

$0

2005

$7,424,727

$0

$7,115,976

$0

 

 

 

$297,501

2006A Refunding

$9,005,500

$0

$8,468,000

$0

2006

$8,390,088

$0

$8,094,088

$0

 

 

 

$6,183,250

 

2007A

$10,740,463

$0

$10,427,963

$0

 

 

 

$7,750,001

 

2007B

$6,738,025

$0

$6,538,025

$0

 

 

 

$5,319,550

 

2008A

$8,257,563

$0

$8,060,563

$0

2008B

$8,651,438

$0

$8,501,438

$0

2008B Refunding

$5,052,062

$0

$0

$0

2009A

$7,085,000

$0

$6,885,000

$0

2009B

$3,409,968

$562,675

$3,376,148

$544,464

 

 

 

$3,415,349

 

2009 Refunding

$6,064,750

$0

$6,064,750

$0

2012 Refunding

$3,308,850

$0

$12,323,850

$0

Projected debt service & expenses

$40,000

$0

$40,000

$0

 

 

 

$5,607,750

 

Refunding Savings – Series 2005A, 2006B, 2007A, 2007B

($1,718,267)

$0

($7,058,000)

$0

 

 

 

$0

 

Total Service Area

$105,421,217

$562,675

$98,282,602

$544,464

 

 

 

$98,321,803

 


2. Out of the amounts for Debt Service Payments on General Obligation Bonds, sums needed to fund issuance costs and other expenses are hereby appropriated.


C. Out of the amounts for Capital Lease Payments, the following amounts are hereby appropriated for capital lease payments:


 

FY 2013

FY 2014

Big Stone Gap RHA (DOC) (Wallens Ridge, 1995)

$6,012,500

$6,008,625

Norfolk RHA (VCCS-TCC), Series 1995

$2,018,055

$2,012,610

Innovative and Entrepreneurship Investment Authority (VEDP) (1997)

$1,333,600

$1,311,744

Virginia Biotech Research Park, 2009

$3,398,475

$4,756,900

Total Capital Lease Payments

$12,762,630

$14,089,879


D.1. Out of the amounts for Debt Service Payments on Virginia Public Building Authority Bonds shall be paid to the Virginia Public Building Authority the following amounts for use by the authority for its various bond issues:


FY 2013

FY 2014


 


Series

General Fund

Nongeneral Fund

General Fund

Nongeneral Fund

2002

$2,593,250

$0

$0

$0

2003 Refunding

$4,866,787

$176,113

$4,867,859

$176,016

2004A

$23,867,256

$0

$23,294,756

$0

2004B

$14,996,481

$0

$14,976,775

$0

2004C

$4,551,500

$0

$4,555,500

$0

2004D

$12,533,338

$0

$12,520,963

$0

2005A Refunding

$5,123,125

$0

$5,104,875

$0

2005B Refunding

$14,935,982

$348,543

$14,946,269

$348,756

2005C

$4,488,375

$0

$4,489,500

$0

STARS 2005C

$12,248,875

$0

$12,251,375

$0

2005D

 

$0

 

$0

 

$1,220,000

 

$2,220,000

 

 

 

 

$1,250,000

 

2006A

$5,955,993

$0

$5,953,118

$0

 

 

 

$1,346,876

 

STARS 2006A

$7,143,125

$0

$7,145,500

$0

 

 

 

$4,891,532

 

2006B

$13,999,925

$0

$13,996,925

$0

 

 

 

$11,291,175

 

STARS 2006B

$4,469,250

$0

$4,466,250

$0

2007A

$14,714,850

$0

$14,719,475

$0

STARS 2007A

$7,515,500

$0

$7,517,625

$0

2008A Refunding

$16,281,784

$374,466

$0

$0

2008B

$11,994,813

$0

$11,993,225

$0

2009A

$4,677,085

$0

$4,679,738

$0

2009B

$16,742,305

$0

$16,745,680

$0

2009B STARS

$6,583,725

$0

$6,585,100

$0

2009C

$1,086,531

$0

$1,088,693

$0

2009D

$3,684,125

$0

$6,277,400

$0

2010A

$22,020,957

$4,511,477

$21,894,332

$4,511,477

 

 

 

$22,252,994

 

2010B

$22,235,001

$3,484,627

$22,234,826

$3,484,627

 

 

 

$22,511,854

 

2011A STARS

$627,000

$0

$630,800

$0

2011A

$20,818,500

$0

$20,815,900

$0

2011B

$1,298,924

$0

$1,299,774

$0

2012 Refunding

$3,262,263

$0

$3,474,600

$0

Projected debt service and expenses

$100,000

$0

$7,115,500

$0

 

 

 

$8,986,892

 

Refunding Savings – Series 2006A and 2006B

$0

$0

($3,281,182)

$0

 

 

 

$0

Total Service Area

$286,636,625

$8,895,226

$274,581,151

$8,520,876

 

 

 

$269,833,455

 


2.a. Funding is included in this Item for the Commonwealth's reimbursement of a portion of the approved capital costs as determined by the Board of Corrections and other interest costs as provided in §§ 53.1-80 through 53.1-82.2 of the Code of Virginia, for the following:


 

Commonwealth Share of

Project

Approved Capital Costs

Loudoun County Adult Detention Center Phase 2

$8,389,677

Blue Ridge Regional Jail

$31,664,995

Meherrin River Regional Jail

$32,189,469

Richmond City Jail Replacement

$29,702,708

Newport News Public Safety Building Life Safety Renovation

$875,294

RSW Regional Jail

$32,840,850

Southwest Virginia Regional Jail

$16,910,186

Central Virginia Regional Jail

$8,464,891

Total Approved Capital Costs

$161,038,070


b. The Commonwealth's share of the total cost of construction for Meherrin River Regional Jail shall not exceed $32,189,469.  The Commonwealth's share of the total cost of construction of the Richmond City Jail Replacement shall not exceed $29,702,708.  The Commonwealth's share of the total cost of construction of the Newport News Public Safety Building Life Safety Renovation project shall not exceed $875,294.  The Commonwealth's share of the total cost of construction of the RSW Regional Jail project shall not exceed $32,840,850.  Reimbursement of the Commonwealth's portion of the construction costs of these projects shall be subject to the approval of the Department of Corrections of the final expenditures and will not occur before July 1, 2012.


c. This paragraph shall constitute the authority for the Virginia Public Building Authority to issue bonds for the foregoing projects pursuant to § 2.2-2261 of the Code of Virginia.


E.1. Out of the amounts for Debt Service Payments on Virginia College Building Authority Bonds shall be paid to the Virginia College Building Authority the following amounts for use by the Authority for payments on obligations issued for financing authorized projects under the 21st Century College Program:


Series

FY 2013

FY 2014

2003A

$5,262,400

$0

2004A

$6,245,750

$6,247,500

2004B Refunding

$9,469,825

$9,470,275

2005A

$3,483,250

$3,483,250

2006

$9,569,050

$9,557,000

 

 

$8,058,657

2007A Refunding

$2,937,300

$3,867,300

2007B

$2,852,925

$2,854,125

2008A

$7,445,231

$7,446,981

2009A&B

$33,304,325

$33,301,007

2009C Refunding

$2,363,050

$1,297,550

2009E Refunding

$14,252,350

$19,514,750

2009F

$34,234,136

$34,229,886

 

 

$34,762,641

2010B

$28,164,064

$28,162,314

 

 

$28,487,465

2011 A

$17,777,344

$17,778,100

Projected 21st Century debt service & expenses

$21,600,000

$41,127,277

 

 

$48,908,944

Subtotal 21st Century

$197,487,988

$224,337,315

 

 

$225,478,545


2. Out of the amounts for Debt Service Payments on Virginia College Building Authority Bonds shall be paid to the Virginia College Building Authority the following amounts for the payment of debt service on authorized bond issues to finance equipment:


Series

FY 2013

FY 2014

2008A

$8,230,750

$8,230,250

2009D

$9,046,175

$9,048,925

2010A

$8,756,500

$8,550,000

2011A

$8,534,115

$8,535,200

Projected debt service & expenses

$8,362,893

$8,362,000

 

 

 

Subtotal Equipment

$42,930,433

$42,726,375

 

 

 

Total Service Area

$240,418,421

$267,063,690

 

 

$268,204,920


3. Beginning with the FY 2008 allocation of the higher education equipment trust fund, the Treasury Board shall amortize equipment purchases at seven years, which is consistent with the useful life of the equipment.


4. Out of the amounts for Debt Service Payments on Virginia College Building Authority Bonds, the following nongeneral fund amounts from a capital fee charged to out-of-state students at institutions of higher education shall be paid to the Virginia College Building Authority in each year for debt service on bonds issued under the 21st Century Program:


 

 

 

Institution

FY 2013

FY 2014

George Mason University

$2,281,257

$2,535,489

Old Dominion University

$1,063,161

$1,059,300

University of Virginia

$4,768,632

$4,670,622

Virginia Polytechnic Institute and State University

$4,625,280

$4,656,663

Virginia Commonwealth University

$1,714,383

$2,132,460

College of William and Mary

$1,412,532

$1,493,811

Christopher Newport University

$119,097

$112,167

University of Virginia's College at Wise

$41,085

$48,510

James Madison University

$2,672,109

$2,635,578

Norfolk State University

$499,356

$458,766

Longwood University

$118,701

$111,276

University of Mary Washington

$339,669

$293,535

Radford University

$277,002

$275,022

Virginia Military Institute

$347,490

$370,260

Virginia State University

$858,726

$845,856

Richard Bland College

$6,930

$9,900

Virginia Community College System

$3,406,095

$3,222,450

TOTAL

$24,551,505

$24,931,665


 


5. Out of the amounts for Debt Service Payments of College Building Authority Bonds, the following is the estimated general and nongeneral fund breakdown of each institution's share of the debt service on the Virginia College Building Authority bond issues to finance equipment. The nongeneral fund amounts shall be paid to the Virginia College Building Authority in each year for debt service on bonds issued under the equipment program:


FY 2013

FY 2014


 


Institution

General Fund

Nongeneral Fund

General Fund

Nongeneral Fund

College of William & Mary

$1,541,950

$259,307

$1,469,205

$259,307

University of Virginia

$10,093,515

$1,088,024

$9,339,830

$1,088,024

Virginia Polytechnic Institute and State University

$9,354,885

$992,321

$8,755,725

$992,321

Virginia Military Institute

$593,290

$88,844

$505,625

$88,844

Virginia State University

$949,330

$108,886

$872,855

$108,886

Norfolk State University

$1,337,165

$108,554

$806,885

$108,554

Longwood University

$520,085

$54,746

$487,775

$54,746

University of Mary Washington

$494,188

$97,063

$437,530

$97,063

James Madison University

$1,671,180

$254,504

$1,511,855

$254,504

Radford University

$1,115,115

$135,235

$1,066,500

$135,235

Old Dominion University

$3,379,770

$374,473

$3,147,225

$374,473

Virginia Commonwealth University

$7,726,995

$401,647

$7,322,975

$401,647

Richard Bland College

$121,730

$2,027

$111,875

$2,027

Christopher Newport University

$558,715

$17,899

$512,725

$17,899

University of Virginia's College at Wise

$211,295

$19,750

$184,280

$19,750

George Mason University

$3,520,240

$205,665

$3,357,410

$205,665

Virginia Community College System

$9,426,165

$633,657

$8,675,410

$633,657

Virginia Institute of Marine Science

$516,760

$0

$489,925

$0

Roanoke Higher Education Authority

$56,105

$0

$52,315

$0

Southwest Virginia Higher Education Center

$53,375

$0

$49,810

$0

Institute for Advanced Learning and Research

$680,565

$0

$135,475

$0

Southern Virginia Higher Education Center

$19,175

$0

$23,435

$0

New College Institute

$24,205

$0

$34,845

$0

TOTAL

$38,491,738

$4,842,602

$47,995,653

$4,842,602


F. Pursuant to various Payment Agreements between the Treasury Board and the Commonwealth Transportation Board, funds required to pay the debt service due on Commonwealth Transportation Board bonds shall be paid to the Trustee for the bondholders by the Treasury Board after transfer of these funds to the Treasury Board from the Commonwealth Transportation Board pursuant to Item 450, paragraph E of this act and §§ 58.1-815, 58.1-815.1 and 58.1-816.1, Code of Virginia.


G. Under the authority of this act, an agency may transfer funds to the Treasury Board for use as lease, rental, or debt service payments to be used for any type of financing where the proceeds are used to acquire equipment and to finance associated costs, including but not limited to issuance and other financing costs. In the event such transfers occur, the transfers shall be deemed an appropriation to the Treasury Board for the purpose of making the lease, rental, or debt service payments described herein.