Important: Please Note the Following Regarding Required Submission of
SA-132 (Bonds & Refunding Bonds) and SA-135 (BANS) borrowing forms for
Statewide Average Interest Rate Calculation

Pursuant to New York State Education Law 3602 subdivision 6., districts must submit SA-132 and SA-135 forms for ALL district Bond and BAN borrowings. These forms continue to be required even though most building aid is now based on assumed amortization.

SA-132 (Bond & Refunding Bond) and SA-135 (BAN) forms for borrowing with issue dates between July 1, 2023 and June 30, 2024, needed for the computation of the Statewide Average Interest Rate, are due no later than September 1, 2024 pursuant to Education Law 3602 subdivision 6. Statute requires districts to provide this information and it is critical to the calculation of a valid statewide average interest rate.

SA-132 forms must be submitted for Refunding Bonds and Energy Performance Contracts (EPC) as they are included in the Statewide Interest Rate Calculation.

In addition, Refunding Bonds are required to be on file as part of the review and approval process for Interest Rate Reduction waiver applications.

Finally, SED requires borrowing information to be submitted in order to have a complete borrowing history. This helps us to better identify and solve district problems or issues.

See links below for SA-132 and SA-135 forms available on the State Aid website:
SA-132 Amortization Schedule for Building Bond Issues or Capital Notes
SA-132 Fill In and Print Form (pdf 351 KB)

SA-135 Bond Anticipation Note (BAN) Schedule
SA-135 Fill In and Print Form (pdf 319 KB)

Last Updated: July 1, 2024