Total outstanding debt from New York’s state and local authorities rose by almost 19% to $151.1 billion from 2008 through 2012, according to a report released Monday.
From 2008 to 2012 the uses of the authorities’ debt has shifted, the New York State Authorities Budget Office report showed. The percent of the authorities’ debt issued for their own public purposes declined to 27% from 41%. The percent of the debt issued at the direction of state government for purposes unrelated to the authorities’ missions rose to 39% from 35%. The percent of the debt issued on behalf of third parties rose to 34% from 24%.