New York's Suffolk County is planning a 2016 capital budget that lessens borrowing thanks to state and federal assistance.
Suffolk County Executive Steve Bellone said his $118.8 million budget proposal contains $29.4 million in voter-approved serial bonds for water quality control projects and $20 million to acquire open space. Bellone, a Democrat who took office in January 2012, emphasized that the capital budget plan is funded primarily through sources other than serial bonds with 73% of costs coming from state and federal aid. The fiscal plan budget keeps spending flat from last year's $119 million capital budget.
"Overall, the amount of serial bond funding proposed in 2016 is less than what was adopted in 2015, despite the inclusion of $29.4 million in serial bonds for open space and water quality projects, said Bellone in a written budget message to Suffolk County legislators. "The proposed capital program, however, is robust due to a significant influx of state and federal aid driven by the initiatives we have undertaken."
Bellone's capital budget plan must be approved by the Democratic-controlled Suffolk County Legislature. Suffolk County, which is rated A3 by Moody's Investors Service, is located on the eastern portion of Long Island with a population around 1.5 million.
