Transportation Subcommittee 2014-15 fiscal year budget highlights. - Page 1 |
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Fiscal Research Division Fiscal Brief Budget Overview Transportation Transportation Subcommittee 2014-15 Fiscal Year Budget Highlights October 9, 2014 The North Carolina General Assembly House and Senate Appropriations Subcommittees on Transportation (Transportation Subcommittees) develop and recommend the budgets for the Department of Transportation (DOT) and certain transportation-related programs and services administered by other State agencies. Development and maintenance of the State’s transportation system are supported by the Highway Fund and Highway Trust Fund, which are mostly comprised of revenues from the motor fuels tax, highway use tax, Division of Motor Vehicles fees, and federal funds. Actual Actual Actual Certified FY 2011-12 FY 2012-13 FY 2013-14 FY 2014-15 Expenditures 7,406,346,883 8,212,689,355 8,572,339,451 7,853,143,648 Less: Receipts 4,906,938,869 5,099,644,302 5,527,790,107 4,706,608,222 Net Appropriations $2,499,408,014 $3,113,045,053 $3,044,549,344 $3,146,535,426 Positions (FTE) 13,154.0 13,122.0 13,025.0 12,393.0 Actual and Enacted Expenditures and Receipts 1 1 Department or Division level budget and FTE information is provided at the end of this budget brief. Certified FY 2014-15 Highway Fund and Highway Trust Fund net appropriations total $3.15 billion, a 4.1 percent increase over the budget enacted by the 2013 General Assembly. Combined appropriations fund 12,663 full-time equivalent positions (FTE). The chart below shows the budget by purpose. S.L. 2014-100, Appropriations Act of 2014 (S.B. 744), appropriates $1.98 billion to the Highway Fund and $1.16 billion to the Highway Trust Fund in FY 2014- 15. Legislative adjustments to the FY 2014-15 Highway Fund budget increase spending by $68 million, in accordance with projected revenues. Highway Trust Fund adjustments increase spending by $57 million due to higher Highway Use Tax projections and increased Motor Fuel Tax consumption. The Joint Conference Committee Report reflects the continued focus on highway maintenance in the Highway Fund and funding the Strategic Transportation Investments fund in the Highway Trust Fund. This Fiscal Brief provides a summary of the adjusted FY 2014-15 budget for Transportation. Construction 35% Maintenance 34% DMV 4% Intermodal 5% State Aid 5% Reserves, Transfers, Debt, & Other 11% Admin. 5% Highway Fund & Highway Trust Fund Net Appropriations FY 2014-15 $3.15 Billion
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Title | Transportation Subcommittee 2014-15 fiscal year budget highlights. - Page 1 |
Full Text | Fiscal Research Division Fiscal Brief Budget Overview Transportation Transportation Subcommittee 2014-15 Fiscal Year Budget Highlights October 9, 2014 The North Carolina General Assembly House and Senate Appropriations Subcommittees on Transportation (Transportation Subcommittees) develop and recommend the budgets for the Department of Transportation (DOT) and certain transportation-related programs and services administered by other State agencies. Development and maintenance of the State’s transportation system are supported by the Highway Fund and Highway Trust Fund, which are mostly comprised of revenues from the motor fuels tax, highway use tax, Division of Motor Vehicles fees, and federal funds. Actual Actual Actual Certified FY 2011-12 FY 2012-13 FY 2013-14 FY 2014-15 Expenditures 7,406,346,883 8,212,689,355 8,572,339,451 7,853,143,648 Less: Receipts 4,906,938,869 5,099,644,302 5,527,790,107 4,706,608,222 Net Appropriations $2,499,408,014 $3,113,045,053 $3,044,549,344 $3,146,535,426 Positions (FTE) 13,154.0 13,122.0 13,025.0 12,393.0 Actual and Enacted Expenditures and Receipts 1 1 Department or Division level budget and FTE information is provided at the end of this budget brief. Certified FY 2014-15 Highway Fund and Highway Trust Fund net appropriations total $3.15 billion, a 4.1 percent increase over the budget enacted by the 2013 General Assembly. Combined appropriations fund 12,663 full-time equivalent positions (FTE). The chart below shows the budget by purpose. S.L. 2014-100, Appropriations Act of 2014 (S.B. 744), appropriates $1.98 billion to the Highway Fund and $1.16 billion to the Highway Trust Fund in FY 2014- 15. Legislative adjustments to the FY 2014-15 Highway Fund budget increase spending by $68 million, in accordance with projected revenues. Highway Trust Fund adjustments increase spending by $57 million due to higher Highway Use Tax projections and increased Motor Fuel Tax consumption. The Joint Conference Committee Report reflects the continued focus on highway maintenance in the Highway Fund and funding the Strategic Transportation Investments fund in the Highway Trust Fund. This Fiscal Brief provides a summary of the adjusted FY 2014-15 budget for Transportation. Construction 35% Maintenance 34% DMV 4% Intermodal 5% State Aid 5% Reserves, Transfers, Debt, & Other 11% Admin. 5% Highway Fund & Highway Trust Fund Net Appropriations FY 2014-15 $3.15 Billion |