New York’s State and local public authorities collectively spend nearly $60 billion annually. Their total debt outstanding, more than a quarter of a trillion dollars, equates to $13,013 for every New York resident.

Long Island utility customers have long paid some of the highest electricity prices in the country. Residents and businesses in the region have raised concerns about such costs, as well as management practices of the Long Island Power Authority (LIPA).

New York’s public authorities carry out a wide range of essential activities. Drive along the Thruway, ride a subway, bus or commuter train, visit a public hospital, or simply turn on a light in a home or office – a public authority may be part of New Yorkers’ daily lives in these ways and many others.

In 2010-11, vendors were paid interest totaling $1,398,859, representing an increase of $486,799, or more than 53 percent, above the prior year. 

In 2011-12, vendors were paid interest totaling $1,925,986, representing an increase of $526,531, or more than 37 percent, above the prior year. 

In 2012-13, vendors were paid interest totaling $2,552,297, representing an increase of $627,035 above the prior year. 

In 2013-14, vendors were paid interest totaling $1,714,825 representing an increase of $837,466 above the prior year. 

In the 2014-2015 fiscal year, State agencies paid interest totaling $1,525,112 representing a decrease of $189,713 from the prior year.

In the 2015-2016 fiscal year, State agencies paid interest totaling $1,462,835, representing a decrease of $62,277 from the prior year.

In the 2016-2017 fiscal year, State agencies paid interest totaling $1,536,275, representing an increase of $73,440 from the prior year.