N.Y. State Fin. Law § 14-B

Current through 2024 NY Law Chapter 553

Section 14-B - Capital projects and maintenance statements

The head of each state agency shall furnish the governor, at the time and in the form he requires but in no event later than December first of each year, a statement for which plans prepared to meet other existing statutory requirements may be accepted as a partial or complete substitute as determined by the director of the budget, copies of which shall forthwith be furnished to the chairman of the senate finance committee and the chairman of the assembly ways and means committee, setting forth:

a. a detailed schedule by fund, of all capital projects recommended to be undertaken or continued in any of the next five fiscal years, which shall provide the following information for each capital project:

(1) a description of the project in less than thirty words,

(2) the estimated total cost of the project and, if appropriate, the useful life of the project,

(3) the total of all disbursements for the project made prior to the then current fiscal year,

(4) the total amount of disbursements for the project recommended to be made during the current fiscal year, and during each of the next ensuing five fiscal years, provided however that (i) the information required by this paragraph may be provided for groupings of projects in those cases where the director of the budget determines it cannot be provided on a project by project basis,

(5) the estimated date of project completion, and

(6) the amount of the total project costs for which the state or state agency will be contractually obligated as of the close of the then current fiscal year;

b. summaries of the following:

(1) the agency's proposed capital and maintenance activities, goals and objectives, including explanations of any changes to the goals and objectives resulting from new program initiatives, completion of prior program initiatives, or mandated legislative changes,

(2) the agency's proposed new and anticipated future capital appropriations by capital projects funds and by comprehensive construction programs,

(3) the agency's appropriations and reappropriations as currently enacted by capital projects funds and by comprehensive construction programs,

(4) agency's projected capital construction contract commitments and a comparison with previous commitment plans,

(5) the agency's total estimated disbursements, by capital projects funds and comprehensive construction programs, from existing and proposed new and future appropriations, a discussion of the assumptions underlying such estimated disbursements, and an explanation of the annual increase and/or decrease in such estimated disbursements,

(6) recommendations for financing the capital programs inclusive of pay-as-you-go financing, general fund revenues, special revenues such as user charges and federal grants, existing debt authorization and new debt authorization, and an explanation of the relative advantages of the methods proposed over the alternative;

c. for the purposes of the subdivision, capital projects of less than fifty thousand dollars may be grouped into appropriate categories; and d. a five-year scheduled maintenance plan for the agency's capital assets prepared in accordance with section twenty-six of this chapter.

N.Y. State Fin. Law § 14-B