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- Report
- Introduction
- Administration Accomplishments & Initiatives
- Development of the FY14-18 Capital Investment Plan
- Affordability and Fiscal Responsibility
- Impact of Capital Budget on the Operating Budget
- Capital Investments in Gateway Cities
- Aggregate FY14-18 Capital Investment Plan
- Capital Investments by Investment Category
- Appendix A - Debt Affordability Analysis
- Appendix B - Bond Bills
- Appendix C - FY14 Capital Investment Project List, by Investment Category (pdf)
- Appendix D - FY14 Capital Project and Program Descriptions, by Project ID# (pdf)
- Plan by Investment
- Plan by Capital Agency
- Plan by Beneficiary Agency
- Downloads
Development of the FY14-18 Capital Investment Plan
The Fiscal Year 2014-2018 (FY14-18) Capital Investment Plan represents the seventh five-year plan since the Patrick Administration took office. As with the prior plans, the Administration engaged in a diligent, fiscally responsible and comprehensive process for developing this five-year plan. One common challenge shared by each of the previous five-year plans is the fact that demand for capital improvements far exceeds affordable, responsible funding capacity. The inevitable consequence is that many worthy projects will not receive funding.
In order to establish the total amount of the bond-funded capital program within an affordable level, the Administration conducted a rigorous review of the Commonwealth’s debt capacity guided by the debt affordability policy. The debt affordability analysis underlying the FY14-18 Capital Investment Plan is attached as Appendix A.
Over 80% of the bond-funded proceeds are needed to fund previously-made commitments, including ongoing construction contracts, investments needed to leverage necessary federal funds, legal commitments and personnel needed to carry out capital programs. This high level of commitments leaves limited budget capacity to begin new projects in FY14.
The entire FY14 Capital Investment Plan is presented in detail in Appendix C and descriptions of each project or program are included in Appendix D. The highlights of the FY14-18 Capital Investment Plan are provided in the discussions of investment categories below.
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