The capital budget funds the University’s physical facilities and information technology infrastructure.
In fiscal 2013, capital expenditures will total $291 million. Sources of funding include:
- Long-term financing for 50% of the total, or $145 million. (The University’s ability to finance its capital program is facilitated by NYU’s strong financial position, as recognized by ratings on NYU’s general obligation unsecured debt from Moody’s and S&P of Aa3 and AA-, respectively.)
- Philanthropy, government grants, previously funded capital project accounts, and transfers from operating budgets make up the remaining 50%, or $146 million.
The capital budget is used for the following purposes:
- 61% of capital expenditures are for improvements to, or new construction of, academic facilities
- 20% of capital spending is to improve student housing and other facilities that house student services
- 10% of the capital budget is for the improvement of faculty housing
- 9% of the capital budget will be used for campus infrastructure, including a new co-generation plant and various information technology initiatives
- Spending for capital maintenance to keep all University buildings in good repair is included in each of the four categories above, and totals $47 million dollars.