Maryland State Treasurer's Office

The Capital Debt Affordability Committee meeting included discussions on the size and condition of state tax-supported debt, covering general obligation bonds, capital leases, consolidated transportation bonds, Maryland Stadium Authority bonds, and Bay Restoration Bonds. The committee also reviewed the size and condition of debt of higher education institutions, including Baltimore City Community College, Morgan State University, the University System of Maryland, and St. Mary's College. Additionally, the meeting addressed capital spending, growth in the capital budget, and projections for future issuances and affordability benchmarks.

The meeting of the Capital Debt Affordability Committee includes discussion of the CDAC Workgroup Report on Implementation of GASB 87, a review of the size and condition of state tax-supported debt, including general obligation bonds, consolidated transportation bonds, Maryland Stadium Authority bonds, Bay Restoration Bonds, GARVEE Bonds, and capital leases. Also includes review of the size and condition of debt of higher education institutions, including Baltimore City Community College, Morgan State University, University System of Maryland, and St. Mary's College. The final CDAC meeting will be held on Thursday, October 17, 2019 to review and discuss the recommendation of general obligation bond authorizations.

The meeting of the Capital Debt Affordability Committee covered a range of topics, including the Treasurer's opening comments, an introduction and status update on affordability benchmarks, and a review of actions taken during the 2020 Legislative Session by the General Assembly. The committee also discussed the General Fund Estimate, the Assessable Base Estimate, and reviewed capital programs, including the Public School Construction Program. The topics included discussion of CDAC responsibilities, the concept of affordability, components of affordability benchmarks, and the status of affordability benchmarks. The General Assembly passed a capital budget that authorized $1,095 million in net General Obligation Bonds. A new Academic Revenue Debt Authorization totaled $34 Million.

The Capital Debt Affordability Committee meeting included discussions on the general fund estimate, assessable base estimate, and a review of capital program needs. The committee also reviewed the CDAC affordability analysis and an update on state credit ratings. Forecasts and risks associated with revenue, employment growth, and federal government decisions were also discussed. Additionally, there was a presentation on school construction, facilities needs, and funding targets.

The meeting of the Capital Debt Affordability Committee included discussions on the treasurer's opening comments, an introduction and overview of debt management, actions from the 2021 Legislative Session, and general fund and assessable base estimates. The committee also reviewed the capital program, focusing on the public school construction program. Further discussions covered topics such as CDAC responsibilities, the concept of affordability, components of affordability benchmarks, the status of affordability benchmarks, and a market update.