Joint Legislative

Transportation Oversight Committee

Financial Update

H. Tasaico, P.E.December 8, 2009

Outline

NCDOT Funding Sources•State – Historical, Current and Forecast•Federal – Current

Cash Management•36 Month Forecast•Current

American Recovery and Reinvestment Act•Funding

Revenues by Fund – $3.7 Billion

24%Highway Trust Fund

$881M

47%Highway Fund

$1,737M

28%Federal Funds

$1,011M

1%Other Federal Aid &Department Receipts

$ Figures are for SFY 2010

State Transportation Revenues

Motor Fuel Tax55%

HighwayUse Tax

25%

Fees20%--------

15%--------30%

Transportation Revenue Sources2001 to 2009 - Actual

2010 to 2011 - Forecasted

-

500

1,000

1,500

2,000

2,500

3,000

2001 2002 2003 2004 2005 2006 2007 2008 2009 2010 2011

State Fiscal Year

$in

Mil

lio

ns

Fees + Investments

Highway Use

Motor Fuel

23.7

¢/g

al,

5.2

Bga

llons

29.9

¢/ga

l,5.6

Bg

allon

s

28.5

¢/g

al,

5.5

Bga

llons

24.5

¢/g

al,

5.6

Bga

llon

s

24.3

¢/g

al,

5.5

Bga

llon

s

22.8

¢/g

al,

5.3

Bga

llon

s

24.2

¢/g

al,

5.3

Bga

llons

30.

2¢

/gal

,5

.2B

ga

llons

29.9

¢/g

al,

5.3

Bga

llons

29.8

¢/g

al,

5.6

Bga

llon

s

29.9

¢/ga

l,5

.2B

ga

llon

s

Highway Fund Revenue Sources2001 to 2009 - Actual

2010 to 2011 - Forecasted

-

200

400

600

800

1,000

1,200

1,400

1,600

1,800

2,000

2001 2002 2003 2004 2005 2006 2007 2008 2009 2010 2011

State Fiscal Year

$in

Mill

ion

s

Fees + Investments

Motor Fuel

Approximately the

same as in 2006

Fees

30% Increase

over 2005

Highway Trust Fund Revenue Sources2001 to 2009 - Actual

2010 to 2011 - Forecasted

-

200

400

600

800

1,000

1,200

2001 2002 2003 2004 2005 2006 2007 2008 2009 2010 2011

State Fiscal Year

$in

Mil

lio

ns

Fees + Investments

Motor Fuel

Highway UseApproximately the

same as in 1998

Highway Use

32% Decreasesince 2007

SFY 2010 NCDOT RevenuesComparison - Monthly Actual vs Forecast

-

20

40

60

80

100

120

140

160

Jul Aug Sep Oct Nov Dec Jan Feb Mar Apr May Jun

State Fiscal Year

$in

Mil

lio

ns

Motor Fuel - Actual Motor Fuel - Forecast

Fees - Actual Fees - Forecast

HUT - Actual HUT - Forecast

SFY 2010 NCDOT RevenuesMonthly and Cumulative All SourcesPercent Difference Actual to Forecast

(0.6%)

(5.0%)

(4.0%)

(3.0%)

(2.0%)

(1.0%)

0.0%

1.0%

2.0%

3.0%

4.0%

5.0%

Jul Aug Sep Oct Nov Dec Jan Feb Mar Apr May Jun

State Fiscal Year

Montly

Cummulative

Federal Transportation Revenues

Motor Fuel Tax 92% Fees8%

Motor Fuel Tax 92% Fees8%

-

2

4

6

8

10

12

Oct Nov Dec Jan Feb Mar Apr May Jun Jul Aug Sep

$in

Billi

on

s

2006

20072008

2009

$7.0B Transferfrom General Fund

$8.017B Transferfrom General Fund

Some Notable Acts

19161921

1956

1982

1991 ISTEA

1998 TEA-21

2005-2009 SAFETEA-LU

Authorization Acts: Federal-aid HighwayCongressional Continuations

Federal Funding Status

• TEA-21 Expired 9/30/2003

– 12 Continuing Resolutions (CRs) over 22 months

• SAFETEA-LU Expired 9/30/2009

– 1st CR for 31 days (10/31/2009)

– 2nd CR for 48 days (12/18/2009)

– Next:

• Another CR for xx days

• FFY 2010 Appropriations Act

• Reauthorization Extension for yy months

37.1%TIP Construction

$1,359.9

3.3%

Other Construction $122.4Secondary Roads 92.4Discretionary Funds 12.0Spot Safety 9.1Public Service Roads 1.9Small Urban Construction 7.0

25.6%Highway Maintenance

$937.4

3.5%Municipal Aid $129.2

0.4%GHSP & Other $13.1

8.1%

Administration $297.2DOT 86.5DMV 131.2DOH 37.3Trust Fund 42.2

10.7%

Agency Transfers $392.6General Fund 126.1Highway Patrol 195.5Public Instruction 54.9Other Agencies 16.1

71.8%All Construction& Maintenance

Aviation 37.4Rail 19.6Public Transit 102.3Ferries 30.1Bike & Ped 13.6

Other Modes $189.4

5.5%

Debt Service $149.9GO Bonds 82.7GARVEE Bonds 67.2 4.1%

NCDOT Finance2009-10 Uses of Funds - $3.7 Billion

$ Figures are in Millions

1.7%NCTA $64.0

0

250

500

750

1000

1250

Apr-Jun Jul-Sep Oct-Dec Jan-Mar Apr-Jun Jul-Sep Oct-Dec Jan-Mar Apr-Jun Jul-Sep Oct-Dec

$m

illi

on

sRevenues Other Expenditures

Other Modes Maintenance Expenditures

Construction Expenditures Closing Cash Balance

Cash Balance Target Cash Balance Floor

REVENUESState revenues, Federal Aid, GARVEE

CONSTRUCTION EXPENDITURESGARVEE Expenditures & Debt ServiceEcological Enhancement ProgramNC Moving Ahead & SB 1005TIP (PE, ROW, Construction)Other ConstructionTurnpike AuthorityInternal OrdersCMAQ

MAINTENANCE EXPENDITURESPrimary & Secondary SystemsContract ResurfacingSystem Preservation & Disaster Funding

OTHER MODESPublic Transportation & New StartsFerry, Railroad and Airports

OTHER EXPENDITURESAdministrationState Agencies, General Fund & NCTA TransfersState aid to municipalitiesDebt Service and Other Programs

36 Month Forecast

0

250

500

750

1,000

1,250

Jul-Sep Oct-Dec Jan-Mar Apr-Jun Jul-Sep Oct-Dec Jan-Mar Apr-Jun Jul-Sep Oct-Dec Jan-Mar Apr-Jun

$m

illi

on

s

SFY 2010 SFY 2011 SFY 2012

Other Modes Expenditures

Construction ExpendituresMaintenance Expenditures

Other ExpendituresRevenues

Closing Cash BalanceCash Balance TargetCash Balance Floor

• Signed into law on February 17, 2009

• Provides $48.1B for transportation, including:– $27.5B for Highways – NC Share $735M

– $8.4B for Transit – NC Share $103M

– $8.0B for High Speed Rail – Discretionary GrantNational Response $102B, NCDOT requested $5.376B

– $1.3B for Amtrak

– $1.5B for Surface Transportation Discretionary GrantsNational Response $57 billion, NCDOT request $300M

• Significant accountability, transparency and reportingrequirements

The American Recovery andReinvestment Act of 2009 (ARRA)