A capital project includes the acquisition of land, new structures and equipment, and other projects whose cost of land, planning, furnishing, and equipment is estimated over $50,000. Projects or acquisitions under $50,000 are appropriated in the maintenance accounts in the Direct State Services Section of the Budget. New Jersey funds capital projects by means of four methods:
• Through general obligation bonds approved by voters and guaranteed by the State;
• Through bonds issued by semi-autonomous authorities, usually repaid over the life-expectancy of the project repaid by annual appropriation of the legislature;
• Annual pay-as-you-go capital appropriations and;
• A master lease program.
Click here for Passaic County's Capital Budget