DEPARTMENT OF TRANSPORTATION
FEDERAL HIGHWAY ADMINISTRATION
MISCELLANEOUS HIGHWAY TRUST FUNDS
BACKGROUND
This account contains miscellaneous appropriations from the Highway Trust Fund. Obligations and outlays result from prior year appropriations. In FY 2008, $0.734 million was rescinded from unobligated balances in this account.
BUDGETARY RESOURCES
No new budget authority is requested for FY 2009.
DEPARTMENT OF TRANSPORTATION
FEDERAL HIGHWAY ADMINISTRATION
MISCELLANEOUS HIGHWAY TRUST FUNDS
| Identification code: 69-9972-0-7-401 | 2007 Actual | 2008 Estimate | 2009 Estimate | |
|---|---|---|---|---|
| Obligations by program by activity: | ||||
| 00.27 | Miscellaneous highway projects | 111 | 164 | …… |
| 10.00 | Total new obligation (object class 41.0) | 111 | 164 | …… |
| Budgetary resources available for obligation | ||||
| 21.40 | Unobligated balance available, start of year | 260 | 165 | …… |
| 22.00 | New budget authority (gross) | …… | -1 | …… |
| 22.10 | Resources available from recoveries of prior year obligations | 16 | …… | …… |
| 23.90 | Total budgetary resources available for obligations | 276 | 164 | …… |
| 23.95 | Total new obligations | -111 | -164 | …… |
| 24.40 | Unobligated balance available, end of year | 165 | …… | …… |
| New budget authority (gross), Detail: | ||||
| Discreationary: | ||||
| 40.36 | Unobligated balance permanetly reduced | …….. | -1 | …… |
| Change in obligated balances | ||||
| 72.40 | Obligated balance, start of year | 388 | 275 | 272 |
| 73.10 | New obligations | 111 | 164 | …… |
| 73.20 | Total outlays (gross) | -158 | -167 | -133 |
| 73.45 | Recoveries of prior year obligations | -16 | …… | …… |
| 74.40 | Obligated balance, end of year | 275 | 272 | 139 |
| Outlays (gross), detail | ||||
| 86.93 | Outlays from discreationary balances | 158 | 167 | 133 |
| Net budget authority and outlays: | ||||
| 89.00 | Budget authority | …… | -1 | …… |
| 90.00 | Outlays | 158 | 167 | 133 |
MISCELLANEOUS HIGHWAY TRUST FUNDS
| Identification code: 69-9972-0-7-401 | 2007 Actual | 2008 Estimate | 2009 Estimate |
|---|---|---|---|
| Direct obligations: | |||
| 14.10 Direct obligations:Grants,susbsides, and contributions | 111 | 164 | …… |
DEPARTMENT OF TRANSPORTATION
FEDERAL HIGHWAY ADMINISTRATION
MISCELLANEOUS TRUST FUNDS
BACKGROUND
Funds received by this account come completely from non-Federal sources. FHWA holds these funds in trust until they outlay. The following programs are included in this fund:
- Cooperative work, forest highway (Proprietary Receipts) – Contributions are received from States and countries in connection with cooperative engineering, survey, maintenance, and construction projects for forest highways.
- Technical assistance, U.S. dollars advance from foreign governments (Proprietary Receipts) – The Federal Highway Administration renders technical assistance and acts as agent for the purchase of equipment and materials for carrying out highway programs in foreign countries.
- Contributions for highway research programs (Governmental Receipts) – Contributions are received from various sources in support of the FHWA Research, Development, and Technology Program. The funds are used primarily in support of pooled-funds projects.
- Advances from State cooperating agencies (Proprietary Receipts) – Funds are contributed by the State highway departments or local subdivisions for construction and/or maintenance of roads and bridges. The work is performed under the supervision of the Federal Highway Administration.
- International highway transportation outreach (Proprietary Receipts) – Funds collected to inform the domestic highway community of technological innovations, promote highway transportation expertise internationally, and increase transfers of transportation technology to foreign countries.
BUDGETARY RESOURCES
The budget estimates that $75 million will be available from non-Federal sources in FY 2009.
DEPARTMENT OF TRANSPORTATION
FEDERAL HIGHWAY ADMINISTRATION
MISCELLANEOUS TRUST FUNDS
| Identification code: 69-9971-0-7-999 | 2007 Actual | 2008 Estimate | 2009 Estimate | |
|---|---|---|---|---|
| Obligations by program by activity: | ||||
| 00.01 | Cooperative work, forest highways | 8 | 29 | 29 |
| 00.03 | Contributions for highway research | 1 | 3 | 3 |
| 00.04 | Advances from State cooperating Agencies | 20 | 70 | 70 |
| 00.05 | Advances from other Federal Agencies | 1 | 3 | 3 |
| 10.00 | Total obligations | 30 | 105 | 105 |
| Budgetary resources available for obligation | ||||
| 21.40 | Unobligated balance available, start of year | 43 | 67 | 37 |
| 22.00 | New budget authority (gross) | 34 | 75 | 75 |
| 22.10 | Resources available from recoveries of prior year obligations | 20 | …… | …… |
| 23.90 | Total budgetary resources available for obligations | 97 | 142 | 112 |
| 23.95 | Total new obligations.................................................................................. | -30 | -105 | -105 |
| 24.40 | Unobligated balance available, end of year | 67 | 37 | 7 |
| New budget authority (gross), Detail: | ||||
| Mandatory: | ||||
| 60.26 | Appropriations (trust fund) [69-9971-0-999-N-0500-01] | 34 | 75 | 75 |
| Change in obligated balances | ||||
| 72.40 | Obligated balance, start of year | 165 | 130 | 21 |
| 73.10 | New obligations | 30 | 105 | 105 |
| 73.20 | Total outlays (gross) | -45 | -214 | -105 |
| 73.45 | Recoveries of prior year obligations | -20 | …… | …… |
| 74.40 | Obligated balance, end of year | 130 | 21 | 21 |
| Outlays (gross), detail | ||||
| 86.97 | Outlays from new mandatory authority | 12 | 61 | 61 |
| 86.98 | Outlays from mandatory balances | 33 | 153 | 44 |
| 87.00 | Total outlays (gross) | 45 | 214 | 105 |
| Net budget authority and outlays: | ||||
| 89.00 | Budget authority | 34 | 75 | 75 |
| 90.00 | Outlays | 45 | 214 | 105 |
MISCELLANEOUS TRUST FUNDS
| Identification code: 69-9971-0-7-999 | 2007 Actual | 2008 Estimate | 2009 Estimate | |
|---|---|---|---|---|
| Direct obligations: | ||||
| Personnel compensation: | ||||
| 11.11 | Personnel Compensation: Full-time permanent | 3 | 3 | 3 |
| 12.52 | Other Services | 27 | 102 | 102 |
| 99.99 | Total new obligations | 30 | 105 | 105 |
MISCELLANEOUS TRUST FUNDS
| Identification code:69-9971-0-7-999 | 2007 Actual | 2008 Estimate | 2009 Estimate | |
|---|---|---|---|---|
| Direct: | ||||
| 10.01 | Civilian full-time equivalent employment | 27 | 30 | 30 |
DEPARTMENT OF TRANSPORTATION
FEDERAL HIGHWAY ADMINISTRATION
TRANSPORTATION INFRASTRUCTURE FINANCE AND INNOVATION ACT
FINANCING ACCOUNTS
BACKGROUND
As required by the Federal Credit Reform Act of 1990, these non-budgetary accounts record all cash flow to and from the Government resulting from credit assistance obligated in 1992 and later years (including modifications of credit assistance resulting from obligations in any year). The amounts in these accounts are a means of financing and are not included in the budget totals. The TIFIA credit program utilizes three separate financing accounts, one for each credit instrument offered by the program: direct loan, loan guarantee, and contingent line of credit.
SAFETEA-LU provides contract authority for the TIFIA program to assist in the funding of nationally or regionally significant transportation projects. The subsidy costs and administrative expenses associated with this program are included in the Federal-aid Highway schedules.
In FY 2007, USDOT provided TIFIA commitments to three projects for a total of $766 million in credit assistance, including the first instance of a loan refinancing (using new authority provided in SAFETEA-LU) to facilitate the delivery of new infrastructure. In early FY 2008, USDOT executed a $589 million TIFIA loan for Virginia's Capital Beltway HOT Lanes, which will utilize congestion pricing to ensure reliable traffic flow on one of the nation's most congested highways. Both transactions involved private borrowers in partnership with the state of Virginia.
Such public-private partnerships (P3s), which replicate development models common in Europe, Australia and South America, comprise a growing segment of the US project finance market and are especially well-suited to utilize TIFIA credit assistance. In FY 2008, the USDOT expects to review five more applications seeking approximately $1.6 billion in total credit assistance for P3 toll facilities. In addition, three public entities have notified USDOT of their intent to seek approximately $1.4 billion in total credit assistance in FY 2008.
In response to this strong demand the USDOT is proposing, via a rulemaking open to public comment, refinements to its project selection criteria to help ensure that TIFIA resources are targeted toward projects that provide the most effective solutions to the problem of congestion.
DEPARTMENT OF TRANSPORTATION
FEDERAL HIGHWAY ADMINISTRATION
TRANSPORTATION INFRASTRUCTURE FINANCE AND INNOVATION
FINANCING ACCOUNT - DIRECT LOAN
| Identification code: 69-4123-0-3-401 | 2007 Actual | 2008 Estimate | 2009 Estimate |
|---|---|---|---|
| Program by Activities: | |||
| 00.01 Loan obligations | 766 | 2,120 | 798 |
| 00.02 Interest paid to Treasury | 16 | 51 | 113 |
| 01.00 Direct program by Activities - Subtotal | 782 | 2,171 | 911 |
| 10.00 Total new obligations | 782 | 2,171 | 911 |
| Budgetary resources available for obligation: | |||
| 21.40 Unobligated balance brought forward | 31 | 1 | …… |
| 22.00 New financing authority (gross) | 780 | 2,225 | 911 |
| 22.10 Resources available from recoveries of prior year Obligations | 163 | …… | …… |
| 22.60 Portion applied to repay debt | (8) | (55) | …… |
| 22.70 Balance of authority to be withdrawn | (183) | …… | …… |
| 23.90 Total budgetary resources available for obligation | 783 | 2,171 | 911 |
| 23.95 Total new obligations | (782) | (2,171) | (911) |
| 24.40 Unobligated balance carried forward, end of year | 1 | …… | …… |
| New financing authority (gross), detail: | |||
| Appropriations | |||
| Mandatory: | |||
| 67.10 Authority to borrow (indefinite) | 757 | 2,001 | 831 |
| Mandatory | |||
| 69.00 Offsetting collections (cash) | 43 | 131 | 82 |
| 69.10 Change in uncollected customer | |||
| payments from Federal Sources (unexpired) | (20) | 93 | (2) |
| 69.90 Spending authority from offsetting collections | 23 | 224 | 80 |
| 70.00 Total new financing authority (gross) | 780 | 2,225 | 911 |
| Change in obligated balances | |||
| 72.40 Obligated balance, start of year | 1,300 | 1,672 | 2,330 |
| 73.10 Total new obligations | 782 | 2,171 | 911 |
| 73.20 Total financing disbursements (gross) | (267) | (1,420) | (1,259) |
| 73.45 Recoveries of prior year obligations | (163) | …… | …… |
| 74.00 Change in uncollected customer payments from Federal sources, (unexpired) | 20 | (93) | 2 |
| Unpaid obligations, end of year: | |||
| 74.40 Obligated balance, end of year | 1,672 | 2,330 | 1,984 |
| Outlays (gross) detail: | |||
| 87.00 Total financing disbursements (gross) | 267 | 1,420 | 1,259 |
| Offsets against gross financing authority and Financing disbursements: | |||
| Offsetting collections (cash) from: | |||
| 88.00.01 Federal sources: Subsidy from program account | 29 | 119 | 82 |
| 88.00.02 Federal sources: Payment from program account -- upward restimate | 8 | 12 | ...... |
| 88.25 01 Interest on uninvested funds | 6 | ...... | ...... |
| 88.90 Total offsetting collections (cash) | 43 | 131 | 82 |
| Against gross financing authority only | |||
| 88.95 Change in receivables from program account | (20) | 93 | (2) |
| Net financing authority and financing disbursements: | |||
| 89.00 Financing authority | 757 | 2,001 | 831 |
| 90.00 Financing disbursements | 224 | 1,289 | 1,177 |
| Identification code: 69-4123-0-3-401 | 2007 Actual | 2008 Estimate | 2009 Estimate |
|---|---|---|---|
| Portions with respect to appropriations act limitation on obligations: | |||
| 11.31 Direct loan obligations exempt from limitation | 766 | 2,120 | 798 |
| 11.50 Total direct loan obligations | 766 | 2,120 | 798 |
| Cumulative balance of direct loans outstanding: | |||
| 12.10 Outstanding, start of year | 109 | 376 | 1,745 |
| 12.31 Disbursement: Direct loan disbursements | 267 | 1,369 | 1,146 |
| 12.51 Repayments: Repayments and Prepayments | …… | …… | …… |
| 12.90 Outstanding, end of year | 376 | 1,745 | 2,891 |
| 62.00 Net financing disbursements | 224 | 1,289 | 1,177 |
DEPARTMENT OF TRANSPORTATION
FEDERAL HIGHWAY ADMINISTRATION
TRANSPORTATION INFRASTRUCTURE FINANCE AND INNOVATION
FINANCING ACCOUNT - LOAN GUARANTEE
| Identification code: 69-4145-0-3-401 | 2007 Actual | 2008 Estimate | 2009 Estimate |
|---|---|---|---|
| Program by Activities: | |||
| Budgetary resources available for obligation: | |||
| 21.40 Unobligated balance carried forward, start of year | ...... | ...... | 20 |
| 22.00 New financing authority (gross) | ....... | 20 | 20 |
| 23.90 Total budgetary resources available for obligation | ....... | 20 | 40 |
| 24.40 Unobligated balance carried forward, end of year: | ....... | 20 | 40 |
| New financing authority (gross), detail: | |||
| Mandatory | |||
| 69.00 Offsetting collections (cash) | ....... | 4 | 8 |
| 69.10 Change in uncollected customer payments from Federal Sources (unexpired) | ....... | 16 | 12 |
| 69.90 Spending authority from ofsetting collections (total mandatory) | …… | 20 | 20 |
| 72.40 Obligated balance, start of year | …… | …… | (16) |
| 74.00 Change in uncollected customer payments from Federal Sources (unexpired) | …… | (16) | (12) |
| 74.40 Obligated balance, end of year | …… | (16) | (28) |
| Offsets | |||
| Against gross financing authority and financing disbursements: | |||
| 88.00 Offseting collections (cash) from: | |||
| Federal sources: loan guarantee subsidy | ....... | 4 | 8 |
| Against gross financing authority only: | |||
| 88.95 Change in receivables from program accounts | ....... | 16 | 12 |
| Net financing authority and financing disbursements | |||
| 89.00 Financing Authority | ....... | ....... | ....... |
| 90.00 Financing disbursements | ....... | (4) | (8) |
| Identification code: 69-4145-0-3-401 | 2007 Actual | 2008 Estimate | 2009 Estimate |
|---|---|---|---|
| Position with respect to appropriations act limitation on commitments: | |||
| 21.31 Guarnteed loan commitments exempt from limitation | 200 | 200 | 200 |
| 21.42 Uncommitted loan guarantee limitation | (200) | ...... | ...... |
| 21.50 Total guaranteed loan commitments | ....... | 200 | 200 |
| 21.99 Guaranteed amount of guaranteed loan commitments | ....... | 200 | 200 |
| Cummulative balance of guarantee loans outstanding | |||
| 22.10 Outstanding, start of year | …… | …… | 200 |
| 22.31 Disbursements of new guaranteed loans | ....... | 200 | 200 |
| 22.51 Repayments and Prepayments | ....... | ....... | ....... |
| 22.90 Outstanding, end of year | ....... | 200 | 400 |
| Memorandum | |||
| 22.99 Guaranteed amount of guaranteed loans outstanding, end of year | ....... | 200 | 400 |
| 62.00 Net financing disbursements | ....... | (9) | (8) |
DEPARTMENT OF TRANSPORTATION
FEDERAL HIGHWAY ADMINISTRATION
TRANSPORTATION INFRASTRUCTURE FINANCE AND INNOVATION
FINANCING ACCOUNT - LINE-OF-CREDIT
| Identification code: 69-4173-0-3-401 | 2007 Actual | 2008 Estimate | 2009 Estimate |
|---|---|---|---|
| Program by Activities: | |||
| Obligations by program activity | |||
| 00.01 Lines of credit | …… | 200 | 200 |
| 00.02 Interest Paid to Treasury | …… | …… | 1 |
| 10.00 Total new obligations | ....... | 200 | 201 |
| Budgetary resources available for obligation: | |||
| 22.00 New financing authority (gross) | (2) | 200 | 201 |
| 22.10 Resources available from recoveries of prior year obligations | 20 | …… | ....... |
| 22.70 Balance of authority to borrow withdrawn | (18) | …… | ....... |
| 23.90 Total budgetary resouces available for obligation | ....... | 200 | 201 |
| 23.95 Total new obligations | ....... | (200) | (201) |
| New financing authority (gross), detail: | |||
| Mandatory: | |||
| 67.10 Authority to borrow | ....... | 180 | 181 |
| Mandatory: | |||
| 69.00 Offsetting collections (cash) | ....... | 20 | 20 |
| 69.10 Change in uncollected customer payments from Federal sources (unexpired) | (2) | …… | …… |
| 69.90 Spending authority from offsetting collections (total mandatory) | (2) | 20 | 20 |
| 70.00 Total new financing authority (gross) | (2) | 200 | 201 |
| Change in obligated balances | |||
| 72.40 Obligated balance, start of year | 18 | …… | 180 |
| 73.10 Total new obligations | ....... | 200 | 201 |
| 73.20 Total financing disbursements (gross) | ....... | (20) | (41) |
| 73.45 Recoveries of prior year obligations | (20) | …… | …… |
| 74.00 Change in uncollected customer payments from Federal sources (unexpired) | 2 | …… | …… |
| 74.40 Obligated balance, end of year | ....... | 180 | 340 |
| 87.00 Total financing disbursements (gross) | ....... | 20 | 41 |
| Offsets | |||
| Against gross financing authority and financing disbursements: | |||
| 88.00 Offsetting collections (cash) from Federal sources | ....... | 20 | 20 |
| Against gross financing authority only | |||
| 88.95 Change in receivables from program account | (2) | …… | …… |
| Net financing authority and financing disbursements: | |||
| 89.00 Financing authority | ....... | 180 | 181 |
| 90.00 Financing disbursements | ....... | ....... | 21 |
| Identification code: 69-4173-0-3-401 | 2007 Actual | 2008 Estimate | 2009 Estimate |
|---|---|---|---|
| Portions with respect to appropriations act limitation on obligations | |||
| 11.31 Limitation on direct loans | ....... | 200 | 200 |
| 11.50 Total direct loan obligations | ....... | 200 | 200 |
| Cumulative balance of direct loans outstanding: | |||
| 12.10 Outstanding, start of year | ....... | …… | 20 |
| 12.31 Disbursements: Direct loan disbursements | ....... | 20 | 40 |
| 12.90 Outstanding, end of year | ....... | 20 | 60 |
| 62.00 Net financing disbursements | ....... | 21 | 42 |
DEPARTMENT OF TRANSPORTATION
FEDERAL HIGHWAY ADMINISTRATION
ORANGE COUNTY (CA) TOLL ROAD DEMONSTRATION PROJECT
BACKGROUND
San Joaquin Hills Project
The Congress appropriated $9.6 million in FY 1993 to extend a $120 million line-of- credit to the Transportation Corridor Agency's (TCA) San Joaquin Hills public toll road. The loan agreement stipulates that no more than $12 million may be disbursed in any year of operation and draws may be taken only through December 31, 2007. Because of the time and amount limitations on draws, $12 million of the line-of-credit expires each year if not drawn.
As required by the Federal Credit Reform Act of 1990, program and financing accounts have been established to record activity related to direct loan obligations for the Orange County toll roads. The original subsidy obligation of $9.6 million in the program account and the loan obligation of $120 million in the financing account for the San Joaquin Hills Project were recorded when the loan agreement was executed. As loan amounts expire, they are de-obligated in both the program and financing accounts. To date, the San Joaquin Hills Project has not drawn down its line-of-credit.
Foothills/Eastern Transportation Corridor
The Congress appropriated $8 million in FY 1995 to extend a $120 million line-of-credit to the Transportation Corridor Agency's (TCA) Foothills-Eastern Transportation Corridor public toll road. The loan agreement stipulates that no more than $12 million may be disbursed in any year of operation and draws may be taken only through December 31, 2009. Because of the time and amount limitation on draws, $12 million of the line-of-credit expires each year if not drawn.
As required by the Federal Credit Reform Act of 1990, program and financing accounts have been established to record activity related to direct loan obligations for the Orange County to roads. The original subsidy obligation of $8 million in the program account and the loan obligation of $120 million in the financing account for the Foothills/Eastern Transportation Corridor were recorded when the loan agreement was executed. As loan amounts expire, they are de-obligated in both the program and financing accounts. To date, the Foothills/Eastern Transportation Corridor has not drawn down on its line-of- credit.
BUDGETARY RESOURCES
No new appropriations are requested for FY 2009.
DEPARTMENT OF TRANSPORTATION
FEDERAL HIGHWAY ADMINISTRATION
ORANGE COUNTY (CA) TOLL ROAD DEMONSTRATION PROJECT
DIRECT LOAN PROGRAM ACCOUNT
| Identification code: 69-0543-0-1-401 | 2007 Actual | 2008 Estimate | 2009 Estimate |
|---|---|---|---|
| Change in unpaid obligations | |||
| 72.40 Unpaid Obligations, start of year | 5 | 3 | 1 |
| 73.45 Uncollected customer payments from prg. acct. | -2 | -2 | ......... |
| 74.40 Obligated balance, end of year | 3 | 1 | 1 |
| 89.00 Financing authority | ......... | ......... | ......... |
| 90.00 Financing disbursements | ......... | ......... | ......... |
DEPARTMENT OF TRANSPORTATION
FEDERAL HIGHWAY ADMINISTRATION
ORANGE COUNTY (CA) TOLL ROAD DEMONSTRATION PROJECT
DIRECT LOAN FINANCING ACCOUNT
| Identification code: 69-4264-0-3-401 | 2007 Actual | 2008 Estimate | 2009 Estimate | |
|---|---|---|---|---|
| Budgetary resources available for obligation | ||||
| 22.00 | New financing authority (gross) | -2 | -2 | ......... |
| 22.10 | Resources available from recoveries of prior year obligations | 24 | 24 | ......... |
| 22.70 | Balance of authority to borrow withdrawn | -22 | -22 | ......... |
| 23.90 | Total budgetary resources available for obligations | ......... | ......... | ......... |
| 69.10 | Change in uncollected customer payments from Federal sources (unexpired) | -2 | -2 | ......... |
| Change in obligated balance | ||||
| 72.40 | Obligated Balance, start of year | 67 | 45 | 23 |
| 73.45 | Recoveries of prior year obligations | -24 | -24 | ......... |
| 74.00 | Change in uncollected customer payments from Federal sources (unexpired) | 2 | 2 | ......... |
| 74.40 | Obligated balance, end of year Against gross financing authority only | 45 | 23 | 23 |
| 88.95 | Change in receivables from program accounts | -2 | -2 | ......... |
| 89.00 | Financing authority | ......... | ......... | ......... |
| 90.00 | Financing disbursements | ......... | ......... | ......... |
