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Conditions and Performance Report
Chapter 8—Comparison of Spending and Investment Requirements

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Highway and Bridge Spending Versus Investment Requirements

Transit Capital Spending Versus Investment Requirements



This chapter compares the current spending for capital improvements described in Chapter 6 with the future investment requirement scenarios outlined in Chapter 7. These comparisons are intended to be illustrative, rather than to endorse a specific level of future investment. While the analysis identifies "gaps" between investment requirements and current spending levels, it does not take a position as to whether or not these gaps should be closed. The impacts of different levels of investment are discussed in Chapter 9.

The size of the gaps between the investment requirement scenarios and current spending is dependent on the investment requirement analysis, and the underlying assumptions used to develop that analysis. Chapter 10 explores the impacts that varying some assumptions would have on the investment requirements.

The chapter begins with a brief summary, contrasting the investment requirements versus spending comparisons in this report with those included in the 1997 C&P report.

The highway and bridge portion of this chapter starts by comparing average annual investment requirements for the Cost to Maintain Highways and Bridges and the Cost to Improve Highways and Bridges with 1997 capital expenditure data. This includes an analysis of the current and recommended mix of improvement types. The section continues by making a projection of capital spending for 1998-2003, and comparing these with the investment requirement scenarios. This is followed by a year-by-year analysis of investment requirements. The section concludes with a comparison of the results with those shown in previous C&P reports.

The transit portion of this chapter follows the approach used in the highway and bridge section. Average annual investment requirements are first compared to 1997 transit capital expenditures, both in total and by spending on vehicles versus non-vehicles. Investment requirements are then contrasted with the projected capital spending for 1998-2003 given the funding levels authorized by TEA-21. Forecast capital expenditures by 5-year segments are noted, and the funding gap between actual expenditures and estimated investment requirements in previous reports is compared to the current estimates of the gap.