Working closely with the Treasurer's office, A&F manages the amount of the Commonwealth's debt. Based on a quantitative analysis of affordability, we limit the amount of new debt issued each year for capital programs. This limit is commonly known as the "bond cap."
A&F has conducted a rigorous analysis of the Commonwealth's debt affordability in setting the annual bond cap, which for fiscal year 2017 is $2.190 billion. This analysis is published in the Debt Affordability Analysis found below.