DiNapoli asks for improvements to Capital Planning
ALBANY, N.Y.—According to a report released by State comptroller Thomas DiNapoli, $9.6 billion is proposed for the upcoming fiscal year to support the capital program.
The report, which reviews New York's capital spending over the past decade and plans for the coming years, concludes that reforms are needed to ensure that New York state is spending its billions of capital project dollars wisely.
"Much of New York's infrastructure was built decades ago and is heavily used. It is in need of ongoing maintenance, repair or replacement, but the full scope of need is still unclear. The Governor and Legislature deserve credit for creating a task force to coordinate New York's infrastructure needs but more reforms are recommended," said DiNapoli.
DiNapoli has recommended the following to improve New York's capital planning process:
-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;
-Integrating legislative capital budget changes into the Capital Plan; and
-Ensuring that any legislation to authorize P3s provides public oversight to guard against the associated financial risks.