2023-24 SAMS Schedule F6:

Pursuant to Ed.Law 3602 7.e., the deadline for reporting 2022-23 bus purchase borrowings to SED is September 1, 2023. SAMS Schedule F6 is a separate form set requiring separate certification and must be submitted by September 1 regardless of whether other SAMS claim forms are ready at that time.

Each district that incurred capital debt borrowings between July 1, 2022 and June 30, 2023 for bus purchases is required to report the principal payments, interest payments and related information for each borrowing to the Department via the SAMS Schedule F6, by September 1, 2023. The reported data for all districts will be used to compute the Statewide Average interest rate. This average interest rate shall be the assumed interest rate applied permanently to all bus purchases, transportation equipment and lease amortizations beginning in the 2023-24 aid year. The rate also serves as the preliminary rate for assumed amortizations of transportation equipment beginning in 2024-25 aid year. For an example of the interest rate calculation go to: http://stateaid.nysed.gov/trans/transcap_int_rate_calc.htm.

If your district issued debt during 2022-23 for school buses, and you do not report this borrowing to SED by September 1, 2023, your Transportation Aid on transportation capital expense may be negatively affected by a calculated statewide average interest rate that is not an accurate reflection of the actual borrowings that occurred statewide.

Thank you for your cooperation.

Last Updated: August 9, 2023