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Capital Debt Affordability Advisory CommitteeOverviewThe Capital Debt Affordability Advisory Committee (CDAAC) completes an annual review of the size and affordability of the State tax-supported general obligation debt, and submits to the Governor and to the General Assembly an estimate of the maximum amount of new long-term general obligation debt that prudently may be authorized for the next fiscal year. The estimate of the committee is advisory, but historically has been adopted by the state as a bonding limit. The Committee is made up of four ex officio members and one appointee of the Governor. The ex officio members are the State Treasurer, who serves as Chair, the Auditor of Accounts, the Secretary of Administration, and the Secretary of the Vermont Municipal Bond Bank. The work of the CDAAC has been very successful in reducing the State's debt burden, and is recognized by the rating agencies as a significant factor in maintaining Vermont's fiscal discipline and resulting strong bond rating. Committee MembersNameJeb Spaulding Thomas M. Salmon Mike Smith John Valente David R. Coates PositionChair, State Treasurer Auditor of Accounts Secretary of Administration Secretary of VMBB Governor's Appointee Reports2007 Capital Debt Affordability Report 2006 Capital Debt Affordability Report 2005 Capital Debt Affordability Report |