The capital budget provides funding for the University’s physical facilities and information technology infrastructure.
In fiscal 2012, capital expenditures will total $213 million. Sources of funding include:
- Long-term financing for 30% of the total, or $64 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 70%, or $149 million.
The capital budget is used for the following purposes:
- 52% of capital expenditures will be for improvements to, or new construction of, academic facilities
- 8% of capital spending will purchase new, or improve existing, student housing and other facilities that house student services
- 13% of the capital budget will be used to purchase new, and improve existing, faculty housing
- 27% of the capital budget will be used for campus infrastructure 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 $34 million dollars.