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Aggregate FY10-14 Capital Investment Plan

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The full five-year capital investment plan by major investment categories is presented below.  All specific projects and programs expected to be funded in FY10 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 FY10 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.

 

FY10-14 Capital Investment Plan
Total Bond Cap
($thousands)

	FY10	FY11	FY12	FY13	FY14	5-Year Total	% of 5-Year Total
Community Investments	234,607	222,775	241,312	259,349	244,533	1,202,577	14%
Corrections	21,134	20,500	32,200	59,700	95,400	228,934	3%
Courts	111,825	69,413	30,000	52,750	108,600	372,588	4%
Economic Development	86,780	82,500	93,500	107,000	117,000	486,780	5%
Energy & Environment	106,817	103,353	98,231	105,851	109,132	523,384	6%
Health & Human Services	92,352	83,700	79,900	45,200	67,000	368,152	4%
Higher Education	83,764	123,983	151,725	231,700	235,500	826,672	9%
Housing	168,000	168,000	168,000	171,000	173,000	848,000	10%
Information Technology	75,260	72,919	81,957	85,747	85,625	401,508	5%
Public Safety	13,300	7,950	15,150	28,000	38,600	103,000	1%
State Office Buildings & Facilities	72,758	91,637	105,025	70,000	61,025	400,445	4%
Transportation	583,402	578,271	653,000	658,703	664,585	3,137,961	35%
Total	1,650,000	1,625,000	1,750,000	1,875,000	2,000,000	8,900,000	100%

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.

 

FY10-14 Capital Investment Plan
All Sources of Funding
($thousands)

	FY10	FY11	FY12	FY13	FY14	5-Year Total	% of 5-Year Total
Community Investments	294,307	279,778	283,212	295,349	280,533	1,433,180	8%
Corrections	26,234	22,200	32,200	59,700	95,400	235,734	1%
Courts	111,825	76,136	38,600	61,696	117,546	405,804	2%
Economic Development	106,780	122,500	168,500	177,000	192,000	766,780	4%
Energy & Environment	120,591	115,717	99,085	106,145	109,426	550,964	3%
Health & Human Services	93,352	88,700	83,900	45,200	67,000	378,152	2%
Higher Education	98,764	169,083	199,725	233,700	235,500	936,772	5%
Housing	297,318	268,439	211,623	173,466	173,000	1,123,846	7%
Information Technology	78,131	75,519	81,957	85,747	85,625	494,354	3%
Public Safety	39,200	19,550	19,150	28,500	38,600	145,000	1%
State Office Buildings & Facilities	85,258	104,137	105,025	70,000	61,025	425,445	2%
Transportation	1,686,906	2,133,290	2,230,796	2,240,075	1,855,178	10,146,246	60%
Totals	3,038,667	3,475,049	3,553,774	3,576,579	3,310,833	17,042,277	100%

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 project-related stream of revenue

• Accelerated Bridge Program (ABP) – Commonwealth gas tax bonds 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

Comparison of FY09 Capital Spending and FY10 Capital Budget

The first table below shows a comparison of FY09 projected bond cap spending to FY10 budgeted bond cap spending by major investment category.  The second table shows a comparison of the total spending from all funding sources of FY09 projected results and the FY10 budget.  The detailed FY10 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.

FY09 v FY10 Bond Cap
Major Investment Category
($ in thousands)

	FY09	FY10	Difference	% Change
Community Investments	246,235	234,607	(11,628)	-5%
Corrections	13,311	21,134	7,823	59%
Courts	95,535	111,825	16,290	17%
Economic Development	66,348	86,780	20,432	31%
Energy & Environment	103,592	106,817	3,225	3%
Health & Human Services	54,760	92,352	37,592	69%
Higher Education	68,555	83,764	15,209	22%
Housing	175,500	168,000	(7,500)	-4%
Information Technology	80,587	75,260	(5,326)	-7%
Public Safety	24,526	13,300	(11,226)	-46%
State Office Buildings & Facilities	66,060	72,758	6,698	10%
Transportation	581,991	583,402	1,411	0%
Totals	1,577,000	1,650,000	73,000	5%

 

FY09 v FY10 Total Spending
Major Investment Category
($ in thousands)

	FY09	FY10	Difference	% Change
Community Investments	285,035	294,307	9,272	3%
Corrections	13,711	26,234	12,523	91%
Courts	95,535	111,825	16,290	17%
Economic Development	66,348	106,780	40,432	61%
Energy & Environment	105,912	120,591	14,679	14%
Health & Human Services	54,760	93,352	38,592	70%
Higher Education	77,655	98,764	21,109	27%
Housing	244,438	297,318	52,880	22%
Information Technology	105,426	78,131	(27,295)	-26%
Public Safety	40,687	39,200	(1,487)	-4%
State Office Buildings & Facilities	66,060	85,258	19,198	29%
Transportation	1,276,778	1,686,906	410,128	32%
Totals	2,432,344	3,038,667	606,322	25%

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