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- Report
- Introduction
- Accomplishments & Initiatives
- American Recovery and Reinvestment Act of 2009
- Development of the FY11-15 Capital Investment Plan
- Affordability & Fiscal Responsibility
- Aggregate FY11-15 Capital Investment Plan
- Capital Investments by Investment Category
- Appendix A - Debt Affordabiity Analysis
- Appendix B - Bond Bills
- Appendix C - Project Listing (xls)
- Appendix D - Project Descriptions (pdf)
- Plan by Investment
- Plan by Capital Agency
- Plan by Beneficiary Agency
- Downloads
Methodology and Model for Analysis
Consistent with prior years’ analysis, this updated analysis evaluates the affordability of issuing new debt, taking into account the Commonwealth’s existing debt service and contract assistance payment obligations. In this analysis, affordability is measured by determining the annual amount of debt service and other debt-like payment obligations as a percentage of budgeted revenues. This measure (debt service as a percent of budgeted revenues) is a commonly accepted standard for measuring debt capacity. It provides a true indication of the relative cost of Commonwealth debt by taking into account the actual payment obligations on Commonwealth debt and the amount of revenue available to pay those obligations and other budgetary obligations.
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