Capital Plan

The capital plan is a long-term, detailed report on the state’s capital needs. Projects are organized by sector – like transportation – and by funding source. The plan is updated annually and is driven by the affordability analysis that projects the share of the Commonwealth’s budget devoted to pay debt service over the five-year horizon. While state law provides a limit on the amount of the annual operating budget that could be used or needed to pay debt service at 10% of total appropriations, the Patrick Administration set an internal affordability limit at 8% of revenues. This lower limit has driven the development of the capital plan for the last six years.

The development of this long-term plan and affordability analysis has been viewed very favorably as a credit positive by the three rating agencies who rate the state’s outstanding general obligation bonds.

Capital Plan Reports