Adjusted         Executive                       
                                 Appropriation           Request                       Percent 
                                       2000-01           2001-02            Change      Change 

AGENCY SUMMARY
  General Fund                    172,781,000        170,591,100        (2,189,900)    -1.27%
  Total for AGENCY SUMMARY:       172,781,000        170,591,100        (2,189,900)    -1.27%


STATE OPERATIONS
  General Fund                     76,800,000         76,800,000                 0      0.00%
  Total for STATE OPERATIONS:      76,800,000         76,800,000                 0      0.00%

SONYMA Mortgage Insurance Fund Restoration
  General Fund                     15,000,000         15,000,000                 0      0.00%
  Total for Program:               15,000,000         15,000,000                 0      0.00%

Infrastructure Trust Fund Guarantee - SONYMA Homeowners Mortgage Revenues
  General Fund                     61,800,000         61,800,000                 0      0.00%
  Total for Program:               61,800,000         61,800,000                 0      0.00%

AID TO LOCALITIES
  General Fund                     95,981,000         93,791,100        (2,189,900)    -2.28%
  Total for AID TO LOCALITIES:     95,981,000         93,791,100        (2,189,900)    -2.28%

SONYMA Mortgage Insurance Fund Restoration
  General Fund                     95,981,000         93,791,100        (2,189,900)    -2.28%
  Total for Program:               95,981,000         93,791,100        (2,189,900)    -2.28%



                                                                                                                                                

.                          BUDGET HIGHLIGHTS
                   (Executive Budget: pp. 223-225)

The State of New York Mortgage Agency (SONYMA) is a public benefit corporation 
that uses tax-exempt and taxable bond sale proceeds to fund low interest 
mortgages for low to moderate income first time and other qualifying homebuyers.  
SONYMA receives no direct operating support from New York State.

The Executive recommends an All Funds Appropriation of $170,591,100, a decrease 
of $2,189,900 from State Fiscal Year (SFY) 2000-2001.  The agency is included in 
the Transportation, Economic Development and Environmental Conservation Budget 
Bill.

The appropriation represents contingency reserve funds that provide guarantees 
for the Mortgage Insurance Fund in the amount of $61,800,000 and the Homeowner 
Mortgage Revenues Reimbursement Program in the amount of $108,791,100.  The 
State guarantees, by statute, obligations incurred by SONYMA.