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LFC reports $3.1 billion in outstanding capital outlay funds
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A legislative report found about $3.1 billion in unused capital outlay funds for FY23’s third quarter.
This is according to the Legislative Finance Committee’s quarterly capital outlay reports, which were presented by LFC analyst Cally Carswell on May 23. The outstanding capital funds includes $1.8 billion in unspent funds for projects authorized by the legislature through 2022 which do not include the 2023 funds, Carswell said. Other unused capital funds include $158 million in balances and earmark funds for projects funded by the Water Trust Board, the Colonias Infrastructure Fund and the Tribal Infrastructure Fund. There was also $463.8 million from supplemental severance tax bonds for public schools and $605.8 million for special appropriations to capital projects from 202 and 2022, according to the report. “The balances are distributed over roughly 4,000 active projects in the state and we expect that number, as well as the balances, to get bigger when funding becomes available for the projects you all appropriated to this last session, and that will happen in July,” Carswell said.