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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 Affordability 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
Aggregate FY11-15 Capital Investment Plan
The full five-year capital investment plan by major investment categories is presented below. All specific projects and programs expected to be funded in fiscal year 2011 are identified in Appendix C, and descriptions of all of these projects and programs are included in Appendix D. It should be noted that many of the projects funded in fiscal year 2011 are multi-year projects with costs that will be incurred in subsequent fiscal years; these projected future costs have been taken into account in making investment category reservations for future years. It is also important to note that projects will evolve and change, and A&F intends to adjust the capital plan during the fiscal year as circumstances dictate. Each new fiscal year A&F will also undertake a formal reassessment of capital investment needs to develop an annual update to the five-year capital plan.
Total Bond Cap by Year and by Major Investment Category
The following table and chart show the allocation of bond cap spending by year and then by major investment category. Note that fiscal year 2011 includes $140 million in unused capacity from the prior fiscal year.
| FY11 | FY12 | FY13 | FY14 | FY15 | 5-Year Total | % of 5-Year Total | |
|---|---|---|---|---|---|---|---|
| Community Investments | 235,224 | 237,746 | 239,084 | 239,767 | 239,796 | 1,191,617 | 13% |
| Corrections | 17,236 | 31,000 | 52,000 | 74,750 | 80,550 | 255,536 | 3% |
| Courts | 75,438 | 50,621 | 52,750 | 107,100 | 131,100 | 417,008 | 4% |
| Economic Development | 118,328 | 118,951 | 131,094 | 132,499 | 134,500 | 635,372 | 7% |
| Energy & Environment | 109,653 | 101,431 | 104,051 | 105,451 | 107,851 | 528,437 | 6% |
| Health & Human Services | 99,890 | 86,300 | 46,500 | 58,646 | 63,000 | 354,336 | 4% |
| Higher Education | 134,095 | 166,425 | 262,000 | 258,900 | 258,900 | 1,080,320 | 11% |
| Housing | 168,000 | 168,000 | 171,000 | 173,000 | 178,000 | 858,000 | 9% |
| Information Technology | 97,194 | 83,192 | 84,337 | 87,005 | 89,013 | 440,741 | 5% |
| Public Safety | 18,518 | 20,303 | 27,100 | 44,275 | 49,954 | 160,151 | 2% |
| State Office Buildings & Facilities | 102,219 | 112,212 | 66,809 | 49,650 | 56,150 | 387,040 | 4% |
| Transportation | 589,205 | 573,820 | 638,275 | 668,957 | 736,186 | 3,206,443 | 34% |
| Total | 1,765,000 | 1,750,000 | 1,875,000 | 2,000,000 | 2,125,000 | 9,515,000 |
Total Capital Spending by Year and by Major Investment Category
The following chart and table show the allocation of total capital spending from all sources by year and source and then by major investment category. A description of the sources of funding follows.
| FY11 | FY12 | FY13 | FY14 | FY15 | 5-Year Total | % of 5-Year Total | |
|---|---|---|---|---|---|---|---|
| Community Investments | 299,460 | 283,746 | 278,084 | 277,267 | 275,796 | 1,414,353 | 8% |
| Corrections | 17,236 | 31,000 | 52,000 | 74,750 | 80,550 | 255,536 | 1% |
| Courts | 75,438 | 50,621 | 71,321 | 122,671 | 143,921 | 463,970 | 3% |
| Economic Development | 203,792 | 193,639 | 191,388 | 182,499 | 184,500 | 955,817 | 5% |
| Energy & Environment | 214,688 | 201,431 | 204,345 | 205,745 | 208,146 | 1,034,354 | 6% |
| Health & Human Services | 99,890 | 88,300 | 53,500 | 63,846 | 68,000 | 373,536 | 2% |
| Higher Education | 191,445 | 240,725 | 276,850 | 258,900 | 258,900 | 1,226,820 | 7% |
| Housing | 322,499 | 240,216 | 171,000 | 173,000 | 178,000 | 1,084,715 | 6% |
| Information Technology | 100,794 | 83,192 | 84,337 | 87,005 | 89,013 | 444,341 | 2% |
| Public Safety | 33,318 | 30,328 | 38,550 | 48,900 | 49,954 | 201,051 | 1% |
| State Office Buildings & Facilities | 102,219 | 112,212 | 66,809 | 49,650 | 56,150 | 387,040 | 2% |
| Transportation | 1,762,515 | 2,022,838 | 2,172,017 | 2,123,094 | 2,067,900 | 10,148,365 | 56% |
| Totals | 3,423,294 | 3,578,248 | 3,660,200 | 3,667,327 | 3,660,829 | 17,989,898 |
Description of Sources of Funds
§ Bond Cap – Commonwealth borrowing to support the regular capital program
§ Federal – federal reimbursements for capital expenditures, primarily for transportation projects
§ Third-party – contributions made by third-parties to capital projects being carried out by the Commonwealth
§ Project-Financed Bonds – self-supporting bonds payable by the Commonwealth from a new stream of project-related revenue
§ Accelerated Bridge Program (ABP) – Commonwealth special obligation bonds secured by revenues credited to the Commonwealth Transportation fund or federal grant anticipation notes issued to fund the Accelerated Bridge Program
§ American Recovery and Reinvestment Act of 2009 (ARRA) – funds provided by the federal stimulus bill directly to the Commonwealth for targeted capital investments
§ Energy Efficiency – self-supporting Commonwealth general obligation bonds payable with savings to be achieved as a result of energy efficiencies
Comparison of FY10 Capital Spending and FY11 Capital Budget
The first table below shows a comparison of FY10 projected bond cap spending to FY11 budgeted bond cap spending by major investment category. The second table shows a comparison of the total spending from all funding sources of fiscal year 2010 projected results and the fiscal year 2011 budget. The detailed fiscal year 2011 capital spending plan attached as Appendix C shows both the spending agency and major investment category for each project and notes the agency that will benefit from each capital investment.
| FY10 | FY11 | Difference | % Change | |
|---|---|---|---|---|
| Community Investments | 220,669 | 235,224 | 14,555 | 7% |
| Corrections | 17,470 | 17,236 | (234) | -1% |
| Courts | 104,903 | 75,438 | (29,466) | -28% |
| Economic Development | 94,124 | 118,328 | 24,203 | 26% |
| Energy & Environment | 110,775 | 109,653 | (1,123) | -1% |
| Health & Human Services | 69,968 | 99,890 | 30,922 | 45% |
| Higher Education | 76,077 | 134,095 | 58,019 | 76% |
| Housing | 168,960 | 168,000 | (960) | -1% |
| Information Technology | 75,183 | 97,194 | 22,011 | 29% |
| Public Safety | 19,003 | 18,518 | (485) | -3% |
| State Office Buildings & Facilities | 72,723 | 102,219 | 29,496 | 41% |
| Transportation | 527,552 | 589,205 | 61,653 | 12% |
| Totals | 1,556,408 | 1,765,000 | 208,592 | 13% |
| FY10 | FY11 | Difference | % Change | |
|---|---|---|---|---|
| Community Investments | 273,836 | 299,460 | 25,624 | 9% |
| Corrections | 17,470 | 17,236 | (234) | -1% |
| Courts | 104,903 | 75,438 | (29,466) | -28% |
| Economic Development | 94,124 | 203,792 | 109,667 | 117% |
| Energy & Environment | 124,517 | 214,688 | 90,171 | 72% |
| Health & Human Services | 69,968 | 99,890 | 29,922 | 43% |
| Higher Education | 76,361 | 191,445 | 115,085 | 151% |
| Housing | 273,217 | 322,499 | 49,282 | 18% |
| Information Technology | 92,850 | 100,794 | 7,944 | 9% |
| Public Safety | 42,180 | 33,318 | (8,862) | -21% |
| State Office Buildings & Facilities | 72,723 | 102,219 | 29,496 | 41% |
| Transportation | 1,580,839 | 1,762,515 | 181,676 | 11% |
| Totals | 2,822,989 | 3,432,294 | 600,306 | 21% |
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