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Administration outlines FY26–27 capital budget, highlights cash-fund formula and declining bonding capacity
Summary
Nick Kramer, chief operating officer at the Agency of Administration, told the House Committee on Corrections & Institutions on Jan. 28 that the governor’s proposed FY26–27 capital budget pairs a $100 million CDAC bonding authorization with $14.8 million calculated under the statutory cash‑fund formula and several prior‑year balances.
Nick Kramer, chief operating officer at the Agency of Administration, told the House Committee on Corrections & Institutions on Jan. 28 that the governor’s proposed FY26–27 capital budget pairs a $100 million Capital Debt Affordability Advisory Committee (CDAC) bonding authorization with smaller cash and prior‑year balances.
Kramer said the administration’s package includes $50 million of bonding in each fiscal year, $6.8 million in bond premium from a recent issuance and roughly $3.1 million in prior‑year reallocations, producing about $60 million available in FY26 and a $50 million authorization in FY27. He also said the statutory cash fund transfer for this cycle calculates to $14.8 million.
The nut of the administration’s recommendation is the cash‑fund concept: rather than relying solely on general obligation bonds, the state…
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