A $1.2 billion information technology borrowing bill Gov. Maura Healey filed Tuesday shows the “strength” of Massachusetts’ fiscal standing even as the state faces a $1 billion revenue slowdown and hundreds of millions in budget cuts, the first-term Democrat said.

Administration and Finance Secretary Matthew Gerkowicz, only a day earlier, said the Healey administration planned to cut $375 million from this fiscal year’s budget to help close the $1 billion deficit. Healey said the borrowing bill is “justifiable” and “imperative” despite revenue challenges.

“The way I think of it is this, you separate out what we have in an operating budget, which is what we’re talking about with the expenditures and with some of the reductions recently, from a capital budget. And one of the things that shows the strength of our fiscal standing right now as a state is the fact that we’re able to propose a bond bill,” Healey said from just outside her office.

The legislation looks to fund future investments over the next five years through a $1.2 billion bond authorization and drawing on $400 million in anticipated federal funds.

Healey proposed replacing administrative systems used in the executive branch to manage finance, payroll, and human resource functions. The governor also wants to “standardize the user experience across state agencies with a single identity, and single sign-on that proactively points users to relevant information and services,” she said in a statement.

The bill includes funding for a new portal for employers and those seeking unemployment assistance. Another $30 million is tagged for modernizing medical health records; $30 million for a municipal fiber grant program; and $25 million for a municipal IT grant program, among other investments.

“I think it’s a sign of strength that we’re able to propose a FutureTech Act, a bond bill for IT, that’s $1.2 billion,” Healey said when asked how the proposal fits into a difficult budget picture. “We got to separate out these bond bills, which are about our ability to service debt and borrow money to make smart, strategic, fiscally responsible investments for the state, from what we do with managing revenue coming in and out.”

The capital budget is “separate and distinct” from our operating budget, Gerkowicz stressed.

“We need to think long term, and we need to think about what authorizations need to be in place over those years. With respect to the operating budget, sure, we budget for debt service. And we size our debt service based on what our planned borrowing is over those periods of time,” Gerkowicz said.

Both Healey and Gerkowicz pointed to an “extremely high” bond rating, which affects how expensive it is for the state to borrow money, with Gerkowicz saying it is something officials “monitor very carefully” when asked if the revenue shortfall will affect it.

“I think what the rating agencies look for is swift and decisive action,” Gerkowicz said. “They want to make sure that we’re on top of it and that we’re managing it responsibly. And I think that actions that the administration took (Monday) show exactly that. It shows that we’re monitoring the situation.”