THE CAPITAL BUDGET AND CAPITAL PROJECTS
A major challenge for the leaders of the city of New York is to rebuild municipal infrastructure and enhance the physical facilities that support service delivery. Since emerging from the fiscal crisis of 1975, the city has regained access to credit markets and developed an ambitious capital investment program. A key issue is how quickly these capital projects can be completed. Delays postpone improvements and add to project costs.
This chapter is organized into four sections. The first provides background on the city's ten-year capital plans, its annual capital budgets, and the information systems used to track the progress of capital projects authorized in the budget. The second part assesses the progress on 1,084 projects initiated in fiscal years 1983 through 1989. The third section presents case studies of 22 projects scheduled for completion in fiscal year 1988 to illustrate the reasons for delays. The final section presents recommendations for change in managing capital projects.
Capital investments by the city of New York are guided by a ten-year capital plan and implemented through an annual capital budget process. The long- run plan evolved in the aftermath of the city's fiscal crisis; the annual process is shaped by the city charter.