Transportation Funding Overview 83 rd Legislature, 2013 d Senate - - PowerPoint PPT Presentation

Transportation Funding Overview

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83rd Legislature, 2013

Senate Select Committee on Transportation Funding October 9, 2013

Prepared by the Legislative Budget Board

TxDOT Appropriations By Function 2014 15 Appropriations Compared to 2012 13 Expended/Budgeted 2014-15 Appropriations Compared to 2012-13 Expended/Budgeted

In Millions

2012/2013 Expended/ 2014/2015 Appropriated Over/(Under) Function Expended/ Budgeted1 2014/2015 Appropriated Over/(Under) Expended Planning & Right-of-Way $3,498.6 $2,506.1 ($992.5) Construction1 5,774.0 6,873.2 1,099.2 Maintenance1 7,155.2 8,573.7 1,418.5 Debt Service1 1,611.5 2,408.3 796.8 ebt Se ce ,6 5 , 08 3 96 8 Other2 804.3 846.5 42.2 Senate Joint Resolution 13

• 878.6

878.6 GRAND TOTAL $18,843.6 $22,086.4 $3,242.9 TOTAL less SJR 1 $18,843.6 $21,207.8 $2,364.2 $ , $ , $ ,

1 2012-13 expenditures adjusted for fiscal year 2013 supplemental appropriations made in House Bill 1025, 83rd Legislature,

Regular Session, 2013, including (1) a reduction of $105 million in General Revenue for an anticipated lapse in appropriations for General Obligation bond debt service; (2) an increase of $134.75 million in State Highway Funds made available by a method of financing change for the Department of Public Safety; (3) and an increase of $450 million in General Revenue for state highway maintenance and county transportation infrastructure projects in energy sectors. General Revenue for state highway maintenance and county transportation infrastructure projects in energy sectors.

2Includes Indirect Administration, Public Transportation, Traffic Safety, Travel Information, and Rail Transportation and

Safety.

3 Estimated transfers of $878.6 million to the State Highway Fund in fiscal year 2015 are contingent on voter approval of the

proposed amendment to the Texas Constitution in SJR 1, 83rd Legislature, Third Called Session, in November 2014. Expenditure of these funds in fiscal year 2015 is subject to the concurrent approval of the Governor and Legislative Budget B d d i i f th 2014 15 G l A i ti A t (GAA)

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Board under provisions of the 2014-15 General Appropriations Act (GAA).

TxDOT 2014-15 Appropriations TxDOT 2014 15 Appropriations

• 2014-15 Appropriations Compared to 2012-13 Expenditures/Budget
• Total appropriations of $22.1 billion (including SJR 1) represent an increase of $3.2 billion, or

17.2 percent, above the adjusted 2012-13 expended/budgeted level.

• Total appropriations excluding SJR 1 ($21.2 billion) represent an increase of $2.4 billion, or

12.6 percent, above the adjusted 2012-13 expended/budgeted level.

• Existing Construction and Maintenance Commitments for FY 2014-15
• $7,989.8 million, or 36.2 percent of total 2014-15 appropriations, funds existing construction

and maintenance established before August 31, 2013.

• $2,971.3 million, or 43.2 percent of all construction appropriations, funds existing

construction contracts established before August 31, 2013.

• $1,902.7 million, or 27.7 percent of all construction appropriations, funds TxDOT participation

in the costs of existing comprehensive development agreements toll equity agreements in the costs of existing comprehensive development agreements, toll equity agreements, pass-through financing agreements, and border colonia access grants.

• $3,115.8 million, or 36.3 percent of all maintenance appropriations, funds existing

maintenance contracts established before August 31, 2013.

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Department of Transportation Appropriations By Function 2014 15 Biennium

IN MILLIONS TOTAL = $22,086.4 MILLION

2014-15 Biennium

Maintenance and Preservation $8,573.7 (38.8%) Debt Service $2,408.3 (10.9%) Indirect Administration $454.1 (2.1%) Public Transportation Senate Joint Resolution 1* $878.6 (4.0%) $177.0 (0.8%) Traffic Safety $121.1 (0.5%) Other $392.4 (1.8%) Transportation Planning & Right-of-way $2,506.1 (11 3%) Transportation Construction* $ Rail Transportation and Safety $60.6 (0.3%) Travel Information $33 7 (11.3%) $6,873.2 (31.1%) $33.7 (0.2%)

*Estimated. Notes: Senate Joint Resolution 1, 83rd Legislature, Third Called Session, proceeds may only be used for construction, maintenance, and i iti f i ht f f t ll d bli d acquisition of rights-of-way for non-tolled public roadways. Source: Legislative Budget Board; Comptroller of Public Accounts.

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TxDOT Appropriations By Function 2014 15 Appropriations Compared to 2014 15 Request 2014-15 Appropriations Compared to 2014-15 Request

In Millions

2014/2015 A 2014/2015 Appropriated O /(U d ) Function Agency Requested 2014/2015 Appropriated Over/(Under) Requested Planning & Right-of-Way $2,506.1 $2,506.1

• Construction

6,870.7 6,873.2 2.5 Maintenance 10,308.4 8,573.7 (1,734.8) Debt Service 2 065 9 2 408 3 342 4 Debt Service 2,065.9 2,408.3 342.4 Other1 858.6 846.5 (12.1) Senate Joint Resolution 12

• 878.6

878.6 GRAND TOTAL $22,609.7 $22,086.4 $(523.2)

1Includes Indirect Administration, Public Transportation, Traffic Safety, Travel Information, and Rail Transportation and Safety.

2013 Supplemental Appropriations3 $584.8 Total including Supplemental Appropriations $22,671.2 $61.6

2 Estimated transfers of $878.6 million to the State Highway Fund in fiscal year 2015 are contingent on voter approval of the proposed

amendment to the Texas Constitution in SJR 1, 83rd Legislature, Third Called Session, in November 2014. Expenditure of these funds in fiscal year 2015 is subject to the concurrent approval of the Governor and Legislative Budget Board under provisions of the 2014-15 General Appropriations Act (GAA).

3 Includes HB 1025, 83rd Legislature, Regular Session, 2013, supplemental appropriations of $450 million for state highway maintenance and

county transportation infrastructure projects in energy sectors and $134.75 million in State Highway Funds made available by a method of financing change for the Department of Public Safety in fiscal year 2013

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financing change for the Department of Public Safety in fiscal year 2013.

TxDOT 2014-15 Appropriations Compared to Requested Funds TxDOT 2014 15 Appropriations Compared to Requested Funds

• Total funds made available by the 83rd Legislature including SJR 1 and HB

1025 supplemental funding are $61.6 million more than the requested pp g q amount for 2014-15. Differences excluding SJR 1 and HB 1025:

• $1.6 billion less than requested for highway maintenance repairs and reinforcement in

energy sectors1

• $134.75 million less than requested for new maintenance contracts1
• $400 million more than requested for repayment of short-term debt (not included in the

request)2 request)

• $57.6 million less than requested for debt service on General Obligation bonds

(adjusted to reflect revised TxDOT debt service estimate)

1 HB 1025, 83rd Legislature, Regular Session, 2013, includes supplemental appropriations of $450 million in General Revenue for state highway

maintenance and county transportation infrastructure projects in energy sectors and $134.75 million in State Highway Funds made available by a method of financing change for the Department of Public Safety in fiscal year 2013.

2 2014-15 GAA includes $400 million to repay short-term borrowing originally anticipated to cover two months of delayed transfers of motor fuels taxes

to Fund 6 in fiscal year 2013 pursuant to SB 1 82nd Legislature First Called Session 2011 SB 559 83rd Legislature Regular Session repealed the

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to Fund 6 in fiscal year 2013 pursuant to SB 1, 82nd Legislature, First Called Session, 2011. SB 559, 83rd Legislature, Regular Session, repealed the delay in transfers to Fund 6.

Transportation Funding Highlights, 83rd Legislature, 2013 p g g g g

• HB 1025, 83rd Regular Session, Fiscal Year 2013 Supplemental Appropriations
• $225 million from General Revenue for maintenance and safety projects on the state

highway system to address damage caused by increased oversized and overweight vehicle traffic in energy sectors.

• $225 million from General Revenue to provide grants for county transportation infrastructure

projects in counties affected by increased energy sector activity (SB 1747, 83rd Legislature, Regular Session).

• Replaced $134.75 in State Highway Fund (Fund 6) appropriations to the Department of

Public Safety (DPS) with General Revenue

2014 15 G l A i ti A t (GAA) l d $265 25 illi i F d 6

• 2014-15 General Appropriations Act (GAA) replaced $265.25 million in Fund 6

appropriations to DPS with General Revenue for the 2014-15 biennium.

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Transportation Funding Highlights, 83rd Legislature, 2013 (continued) p g g g g ( )

• Senate Joint Resolution 1, 83rd Legislature, Third Called Session
• Proposed amendment to the Texas Constitution would direct one-half of the current transfer
• f General Revenue to the Economic Stabilization Fund (ESF) to Fund 6 to be used for

construction, maintenance, and acquisition of rights-of-way for non-tolled public roadways.

• Election on the proposition is to be held on November 4, 2014 (fiscal year 2015).
• If approved by voters, the first transfer to Fund 6 (estimated to be $878.6 million) will occur in

fiscal year 2015.

• Additional Fund 6 revenue is attainable through TxDOT’s “estimated” Fund

6 appropriation in the 2014-15 GAA, contingent upon concurrent Governor and LBB approval of TxDOT’s proposed use of the additional funds under and LBB approval of TxDOT s proposed use of the additional funds under the provisions of TxDOT Rider 18, Additional Funds.

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Department of Transportation Funding Sources 2014 15 Biennium

IN MILLIONS TOTAL = $22,086.4 MILLION

2014-15 Biennium

State Highway Funds* $9,034.4 (40.9%) Texas Mobility Funds (excluding Bonds) $689.3 (3.1%) Interagency Contracts $9.0 (<0 1%) ( 0 9%) (<0.1%) General Obligation Bonds $2,082.4 (9.4%) Proposition 14 Bonds $822 7 Bond Proceeds $3,423.9 ( %) General Revenue Funds Federal Funds $8,550.0 (38.7%) $822.7 (3.7%) Texas Mobility Fund Bonds $518.9 (2.3%) (15.5%) General Revenue Funds $379.7 (1.7%)

*Estimated. Note: Includes proceeds from State Highway 130, State Highway 121, and State Highway 161 toll facility agreements; and estimated revenue from Senate Joint Resolution 1, 83rd Legislature, Third Called Session, 2013. , g , , Source: Legislative Budget Board; Comptroller of Public Accounts.

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