We commit to deliver exceptional service and professional expertise on every financing and construction project for our clients and the public, in a cost-effective manner, while advancing the policy goals of New York State.
The Board of the Dormitory Authority sets DASNY policies, approves each financing, and monitors adherence to DASNY guidelines. A President, appointed by the Board, manages the daily operations of the public authority. DASNY is authorized to finance, design, construct or rehabilitate facilities for use by a variety of public and not-for-profit entities. DASNY has a staff of approximately 500 professionals located in four main offices (Albany, New York, Rochester and Buffalo) and at approximately 50 field sites across the state.
Coordination and management of the daily activities of DASNY is the responsibility of the Office of Executive Direction. In his role as chief executive officer of DASNY, the President guides and directs the functions of Executive Direction, and the four additional offices described below. The Vice President assists the President and performs the duties of the President during his absence. Under the leadership of the President, all DASNY offices examine their procedures and operations to improve efficiency and effectiveness in delivering services to customers.
This Office is responsible for DASNY’s accounting and treasury functions, including investment of funds, financial reporting, accounts payable, accounts receivable, debt service administration and funds management. In addition, the Office participates in the bond issuance process.
The largest office within DASNY, with a staff of approximately 300, Construction offers a wide range of design and construction services that are custom-fit to meet individual clients' needs. Generally, project staff act as a customer's agent or owner's representative, reviewing needs, developing budgets, assisting in the selection of design professionals, preparing schedules, securing bids, holding contracts, and generally overseeing the construction process of the project.
Public Finance and Portfolio Monitoring
This Office has two divisions: Public Finance and Portfolio Monitoring. Public Finance is the focal point for DASNY financings. It raises money in the capital markets for DASNY customers by determining the feasibility and structure of financings and overseeing issuance to assure the lowest cost of capital to DASNY customers.
The Portfolio Monitoring Division monitors the financial and operating performance of health care, higher education and other not-for-profit clients for whom DASNY has provided financing, and reviews compliance by these clients with the requirements contained in the financing documents. It also manages DASNY's response to loan or covenant violations and implements financial work-out plans. The Division analyzes industry trends and provides support to the Public Finance Division in connection with the preparation of financial and operations reports for proposed client financings.
Counsel's Office provides legal services to all DASNY offices, is responsible for litigation and contract matters, and represents DASNY on all bond issuances.