The Capital Budget

The Capital Budget Function is responsible for preparing budget analyses for each capital project and program included in the Governor’s annual Capital Budget Bill submission.  This includes proposed funding for:

·         State-owned Capital Projects:  Construction of State building and infrastructure, such as prisons, State hospitals, public university buildings, and State office buildings.

·         State Capital Programs:  Stated-administered programs that provide grants or loans to local governments and private organizations for the construction of capital projects that serve a public purpose and meet State policy objectives (e.g., public school construction, Chesapeake Bay restoration, local jails, community colleges, housing and social programs, and economic development).

·         Capital Grants:  Grants for non-State-owned capital projects requested by local governments and private organizations.

Where applicable, analyses raise fiscal and policy issues, updates, and recommendations, which may include budget bill language, committee narrative, or reductions.  Budget analysts work throughout the year on a variety of capital budget-related projects and tasks, including preparation of a “current services” estimate for the next budget and a long-term debt report, which assist the Spending Affordability Committee in recommending a prudent level of new debt authorizations.  Analysts also review the closeout of the most recently completed fiscal year for capital programs funded with pay-as-you-go (PAYGO) funds appropriated in the operating budget, identify upcoming budget issues, attend site visits, respond to legislative requests for information, conduct research, and work on a variety of ad hoc projects.

Capital Budget Process

Capital Budget Process

Overview of State Debt

Capital Budget Overview