Last Thursday, Comptroller Tom DiNapoli issued a report reviewing New York State’s capital spending over the past decade and its plans for the coming years, and makes recommends to ensure that state capital spending is done wisely.
The report finds that in the last 10 years, the state has spent some $81.7 billion – including tax dollars, federal aid and long-term borrowing proceeds – to support its capital program, with another $9.6 billion proposed for the upcoming fiscal year.
To improve the state’s capital planning process, Comptroller DiNapoli recommends:
- Establishing a statewide capital asset condition and needs assessment and criteria for new capital initiatives;
- Ending off-budget capital spending;
- Enhancing capital needs reporting by individual agencies; and
- Integrating legislative capital budget changes into the Capital Plan.
We share the Comptroller’s concerns about state dollars being spent wisely, especially monies that are going into state infrastructure