State Codes and Statutes
Statutes > Vermont > Title-32 > Chapter-5 > 310
§ 310. Form of annual capital budget and long-range capital program plan
Each annual capital budget request submitted to the general assembly shall be accompanied by, and placed in the context of, a long-range state capital program plan to be prepared, and revised annually, by the governor. The annual capital budget request for the following fiscal year shall be presented as the next one-year increment of the long-range plan. Elements of the plan shall include:
(1) Assessment and projection of need.
(A) Capital needs and projections shall be based upon current and projected statistics on capital inventories and upon state demographic and economic conditions.
(B) Capital inventories shall encompass all state financed capital programs, including:
(i) state buildings, facilities, and land acquisitions;
(ii) higher education;
(iii) aid to municipalities for education, environmental conservation, including water, sewer, and solid waste projects, and other purposes; and
(iv) transportation facilities.
(C) The capital needs and projections shall be for each of the next five fiscal years, with longer-term projections presented for programs with reasonably predictable longer-term needs.
(D) Capital needs and projections shall be presented independently of financing requirements or opportunities.
(2) Comprehensive cost and financing assessment.
(A) Amounts appropriated and expended for the current fiscal year and for the preceding fiscal year shall be indicated for capital programs and for individual projects.
(B) Amounts proposed to be appropriated for the following fiscal year and each of the four years thereafter shall be indicated for capital programs and for individual projects.
(C) The capital costs of programs and of individual projects shall be presented in full, for the entire period of their development.
(D) The operating costs, both actual and prospective, of capital programs and of individual projects shall be presented in full, for the entire period of their development and expected useful life.
(E) The financial burden and funding opportunities of programs and of individual projects shall be presented in full, including federal, state, and local government shares, and any private participation.
(F) Alternative methods of financing capital programs and projects should be described and assessed, including debt financing and use of current revenues. (Added 1989, No. 258 (Adj. Sess.), § 3.)
