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Review of Matching Funds

Match Amounts

As noted, since 1992 over $277 million has been awarded to byways and byway programs around the country. For the Program dollars allocated, a minimum of 20 percent in matching funds or in-kind services were required. Table 3 presents the Program dollars and matching funds, as well as the resulting total project funding, for the 1999 through 2006 grant cycles (for this report, data on matching funds were not available for the years before 1999). From 1999 through 2006, $196.6 million in National Scenic Byways Program grant funding leveraged $122.4 million in matching funds for total project costs of $318.9 million.

Table 3 : Grant Awards, Matching Amounts and Total Funding, 1999- 2006
Year Total Grants Awarded Matching Funds Total Project Costs Match %
of Total
1999 $34,385,173 $14,231,941 $48,617,114 29%
2000 $20,399,233 $20,426,539 $40,825,772 50%
2001 $20,483,088 $21,807,890 $42,290,978 52%
2002 $23,083,400 $11,859,346 $34,942,746 34%
2003 $26,327,750 $13,500,160 $39,827,910 34%
2004 $23,854,702 $8,651,126 $32,505,828 27%
2005 $22,457,500 $14,912,810 $37,370,310 40%
2006 $25,563,807 $16,989,007 $42,552,814 40%
Total $196,554,653 $122,378,819 $318,933,472 38%

The average annual match percentage for the years 1999 to 2006 was 38 percent, significantly higher than the required 20 percent minimum match. If only the 20 percent minimum had been provided by local byways, the total matching funds from 1999 to 2006 would have been $49.1 million rather than the actual $122.4 million total, supporting total project costs of $245.7 million rather than $318.9 million.

In the years for which matching funds data were not available for this report (1992-1998), a total of $81.3 million was granted by the Program. During this time, the minimum match of 20 percent would have generated at least $20.1 million resulting in total project expenditures during that period of $101.4 million. Alternatively, assuming that the actual match levels from 1992-1998 were consistent with the 1999-2006 rate of 38 percent, the matching funds from 1992-1998 would have been $49.8 million. Grants of $81.3 million plus matches of $49.8 million would have resulted in total project expenditures of $131.1 million.

Therefore, adding a 20 percent match assumption for the 1992-1998 years plus the 38 percent match from 1999-2006 results in total grant amounts of $277.9 million, total match amounts of $142.4 million and total project costs of $420.3 million. Under this scenario, every dollar in Program funding generated 51 cents in matching funds.

Assuming a uniform match rate of 38 percent results in $277.9 million in grants, $172.2 million in total matches and $450.1 million in total project costs. Every dollar of Program funding generated 62 cents in match funding.

Updated: 09/03/2013
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