Report Provides Information and Comparisons on Capital Budgeting

Wednesday, June 11, 2014

The recent Capital Budgeting in the States Report from the National Association of State Budget Officers provides state-by-state comparisons on the ways budget officers develop and implement capital spending plans, including how states make decisions to invest in new facilities or maintain old ones; ways states distinguish infrastructure spending from day to day operating expenses; criteria for project financing strategies and options for funding infrastructure; and efforts to mitigate fiscal risks from debt issuance, and more. The report found that transportation is not included in the capital budget in 19 states; 29 states include information technology in the capital budget; 26 states fund higher education capital projects with general fund dollars; in 19 states, only voters can approve general obligation debt issuance; and projects are required to have an estimate of fiscal impact on future operating budgets in 43 states.