DIVISION OF FINANCE FINANCIAL & STATISTICAL REPORT

Transcription

1 Division of Finance Annual Accomplishments Report DIVISION OF FINANCE FINANCIAL & STATISTICAL REPORT Fiscal Year 2017 John R. Kasich, Ohio Governor Jerry Wray, ODOT Director

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3 September 22, 2017 To the Honorable John R. Kasich, Governor Members of the Ohio General Assembly Citizens of the State of Ohio On behalf of the Ohio Department of Transportation (ODOT), I am pleased to submit the department s financial report for fiscal year There has been a transformation going on at ODOT over the past six years. We are doing more with less thanks to better training, better focus, better technology, and an ever-improving culture of professionalism and production. Our people truly embody Excellence in Government and we have become one of the leading transportation agencies in the nation. While many states have fallen badly behind in highway repairs and improvements, since 2011 Ohio has invested an unprecedented $12.6 billion on nearly 6,200 transportation projects to improve safety and keep people and goods moving in Ohio. With the passing of Ohio s new transportation budget this year, the progress continues by investing $2.3 billion in 2017, which means the Kasich administration will have invested $16 billion in our transportation system by the time the governor leaves office. Ohio has one of the nation s largest transportation systems and our mission is simple; to provide the easy movement of people and goods from place to place. For centuries that meant building new highways, bridges, and interchanges. However, we can no longer build our way out of congestion. Using existing technology, there is a smarter, safer and more efficient way to manage traffic. The state transportation budget, which passed April 2017, includes investment of $45 million in the Transportation Research Center in central Ohio to expand capabilities for self-driving research and creates several new smart highways around the state where new technologies can be safely tested in real-life traffic situations. Finally, for the first time in decades, a long-term federal highway bill, or FAST Act, was approved. The bill authorizes $305 billion over fiscal years 2016 through 2020 for highway, motor vehicle safety, public transportation, and other transportation related investments. For Ohio, we ll receive an average of $1.4 billion per fiscal year to manage our vital transportation network. Jerry Wray ODOT Director

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5 TABLE OF CONTENTS TRANSPORTATION FUNDING SOURCES AND APPROPRIATION USES... 1 TRANSPORTATION FUNDING SOURCES STATE... 4 FEDERAL... 8 BONDS TRANSPORTATION APPROPRIATION USES OPERATING CAPITAL STATE INFRASTRUCTURE BANK LOAN PROGRAM BACKGROUND ACCOUNTS FUND BALANCES BANK LOANS AND BONDS AVAILABLE BALANCES LOAN/BOND LOCATION MAP PROJECTS DESCRIPTIONS PROJECT LOCATIONS APPENDIX OHIO DEPARTMENT OF TRANSPORTATION, CENTRAL OFFICE AND DISTRICT LOCATIONS STATE MOTOR FUEL TAX SOURCE AND DISTRIBUTION STATE VEHICLE REGISTRATION FEES FEDERAL AID HIGHWAY APPORTIONMENT FORMULAS FEDERAL TRANSIT PROGRAM APPORTIONMENT FORMULAS MAINTENANCE RESPONSIBILITIES CONTRACTS AWARDED IN OHIO S PUBLIC TRANSPORTATION SYSTEMS MAP OHIO S GENERAL AVIATION AIRPORTS - MAP OHIO S RAILROAD SYSTEM - MAP TRANSPORTATION FUNDING SOURCES... 48

6 Transportation Funding Sources and Appropriation Uses ODOT has three primary funding sources: State, Federal and Bond Revenue. These sources are used by ODOT to preserve the existing state infrastructure, provide funding for local infrastructure, complete major/new projects, provide funding for public transit, aviation and rail projects and cover the department s operating costs. Additionally, funds are provided through the SIB and local government participation. OHIO DEPARTMENT OF TRANSPORTATION State Fiscal Years 2013 through 2017 (With Regard to Fund Year) (1) (Includes Public Transit, Aviation, and Rail Commission Programs) FUNDING SOURCES (Amounts in Millions) STATE FUNDING SOURCES Total State Motor Fuel Tax Revenue $ 1,799 $1,815 $ 1,854 $ 1,874 $1,908 e Refunds & Transfers $ (68) $ (64) $ (62) $ (73) $ (72) e Local Share $ (609) $ (621) $ (626) $ (625) $ (636) e State Agency Draws $ (54) $ (43) $ (43) $ (43) $ (39) State Bond Debt Retirement $ (124) $ (133) $ (140) $ (120) $ (127) Total Deductions $ (855) $ (861) $ (872) $ (861) $ (874) Other ODOT Income $ 137 $ 150 $ 169 $ 135 $ 119 Ohio Turnpike Bond Appropriations $ - $ 630 $ 300 $ 280 $ 170 GRF (Aviation, Transit, Rail) $ 10 $ 10 $ 10 $ 15 $ 15 SSR (Aviation, Transit, Rail) $ 3 $ 2 $ 3 $ 2 $ 10 Federal GARVEE Bond Debt - State Match $ (26) $ (25) $ (25) $ (26) $ (25) TOTAL FROM STATE FUNDING SOURCES $ 1,067 $ 1,720 $ 1,440 $ 1,419 $ 1,324 FEDERAL FUNDING SOURCES Dedicated Federal (HP, APD, Demo, Disc., ER) $ 1 $ 1 $ 37 $ 17 $ 75 Federal Highway Core Program $ 1,308 $ 1,311 $ 1,316 $ 1,407 $ 1,362 FAA, FTA, FRA, (Aviation, Transit, Rail) $ 40 $ 31 $ 36 $ 39 $ 44 Federal GARVEE Bond Debt $ (134) $ (142) $ (144) $ (151) $ (126) TOTAL FROM FEDERAL FUNDING SOURCES $ 1,215 $ 1,201 $ 1,245 $ 1,312 $ 1,354 BOND FUNDING SOURCES State Highway $ 163 $ 178 $ 141 $ 130 $ 182 Federal (GARVEE) $ 87 $ 71 $ 134 $ 157 $ 201 Facilities Bonds (Encumbered) $ - $ - $ 0 $ 74 $ 4 TOTAL FROM BOND FUNDING SOURCES $ 250 $ 249 $ 276 $ 361 $ 387 State Infrastructure Bank (Net of SIB Bond Debt Reserve) $ 8 $ 46 $ 61 $ 31 $ 12 Funding Provided by Local Government Participation $ 55 $ 76 $ 69 $ 80 $ 48 Funding Carried Forward $ 2,373 $ 1,957 $ 1,740 $ 1,605 $ 1,898 TOTAL FUNDING SOURCES FOR ODOT $ 4,969 $ 5,249 $ 4,830 $ 4,807 $ 5,023 (1) Actual usage of legislatively approved appropriations for that fund year, established in the approved Legislative Budget, without regard to when the activity occurred. e = estimated 1

7 Transportation Funding Sources and Appropriation Uses OHIO DEPARTMENT OF TRANSPORTATION State Fiscal Years 2013 through 2017 (With Regard to Fund Year) (1) (Includes Public Transit, Aviation, and Rail Commission Programs) APPROPRIATION USES (Amounts in Millions) HIGHWAY OPERATING Payroll/Personal Services $ 427 $ 439 $ 423 $ 438 $ 470 Maintenance Contracts, etc. $ 21 $ 33 $ 21 $ 44 $ 39 Other Operating $ 274 $ 318 $ 355 $ 277 $ 272 Lands & Buildings Facilities Bonds $ - $ - $ 0 $ 74 $ 4 Hilltop Debt Service $ - $ - $ - $ - $ - OBA Debt Service $ - $ - $ - $ 8 $ 8 NON-HIGHWAY OPERATING (3) Payroll/Personal Services $ 3 $ 3 $ 3 $ 3 $ 4 Maintenance & Equipment $ 0 $ 0 $ 0 $ 0 1 TOTAL OPERATING $ 725 $ 793 $ 803 $ 845 $ 798 $ (2) CAPITAL PROGRAMS System Preservation $ 1,296 $ 1,243 $ 1,072 $ 1,250 $ 1,449 Local Preservation $ 299 $ 328 $ 375 $ 354 $ 322 Emergency $ 33 $ 9 $ 61 $ 44 $ 23 Special Federal $ 60 $ 42 $ 94 $ 23 $ 89 Major / New $ 440 $ 892 $ 605 $ 196 $ 457 Planning and Research $ 41 $ 38 $ 37 $ 35 $ 39 ARRA Stimulus - FHWA (DOT & Locals) $ 1 $ 2 $ 0 $ - $ - ARRA Stimulus - FHWA (MPOs) $ 1.1 $ 0.0 $ - $ - $ - ARRA Stimulus - FTA $ 1 $ 0 $ - $ - $ - ARRA Stimulus - AGR $ 0.8 $ 0.0 $ - $ - $ - SIB Highways $ 8 $ 45 $ 61 $ 31 $ 12 SIB Aviation, Public Transit, Rail $ 0 $ 1 $ 0 $ - $ - Local Match $ 55 $ 76 $ 69 $ 80 $ 48 TOTAL CAPITAL $ 2,236 $ 2,676 $ 2,376 $ 2,013 $ 2,439 GRANT & LOAN PROGRAMS Aviation $ 3 $ 1 $ 1 $ 6 $ 5 Transit $ 43 $ 36 $ 41 $ 44 $ 48 Rail $ 4 $ 3 $ 4 $ 2 $ 4 TOTAL GRANT / LOAN $ 50 $ 40 $ 46 $ 52 $ 57 TOTAL APPROPRIATION USES FOR ODOT $ 3,012 $ 3,509 $ 3,225 $ 2,909 $ 3,294 Funding to be Carried Forward $ 1,957 $ 1,740 $ 1,605 $ 1,898 $ 1,729 GRAND TOTAL APPROPRIATIONS USES FOR ODOT $ 4,969 $ 5,249 $ 4,830 $ 4,807 $ 5,023 (1) Actual usage of legislatively approved appropriations for that fund year, established in the approved Legislative Budget, without regard to when the activity occurred. (2) Fiscal Years 2013 through 2016 had expenditures less than $500,000 and will not show on this chart due to rounding. (3) The Non-Highway Operating uses consist of GRF, State Special Revenue (SSR), and FTA funding sources. 2

8 Transportation Funding Sources and Appropriation Uses STATEMENT OF CASH BALANCES ACTIVITY BETWEEN JULY 1st AND JUNE 30th FOR FISCAL YEARS 2016 AND 2017 (Without Regard to Fund Year) (1) (Amounts Expressed in Thousands) Net Change % Changed FY 2016 FY / / 2017 BEGINNING CASH BALANCE $1,475,436 $1,274,760 ($200,676) -13.6% REVENUE AND RECEIPTS Bond Revenue (Includes Premiums/Discounts) $275,244 $255,000 ($20,244) -7.4% Motor Vehicle Fuel Tax (net of all draws) $994,565 $1,020,636 $26, % Motor Vehicle Fuel Use Tax - IFTA $36,155 $39,100 $2, % Turnpike Bonds $311,952 $214,415 ($97,537) -31.3% Registrations, License fees, Permits $38,340 $42,674 $4, % Investment Income $7,605 $11,361 $3, % Federal Aid (Highway Related Receipts) $1,336,804 $1,449,162 $112, % Federal Aid - Stimulus (Highway, Forest Highway, Transit) $9,857 $0 ($9,857) % Federal Aid (Transit, Aviation, and Rail) $33,450 $23,718 ($9,732) -29.1% Local Government Participation $58,351 $77,992 $19, % SIB Loan Revenue (Repayments and Fees) $85,355 $21,699 ($63,655) -74.6% Rail Loan Revenue (Repayments and Fees) $939 $751 ($188) -20.0% From General Revenue $10,891 $10,882 ($9) -0.1% Other ODOT Income $55,679 $32,012 ($23,666) -42.5% GRAND TOTAL REVENUE AND RECEIPTS: $3,255,187 $3,199,403 ($55,784) -1.7% TOTAL CASH AVAILABLE $4,730,623 $4,474,162 ($256,460) -5.4% DISBURSEMENTS OPERATING PERSONAL SERVICE Payroll (Includes Fringe, Overtime, Early Retirement, etc.) $415,355 $429,737 $14, % Purchased Personal Services $25,311 $39,987 $14, % Other (Tuition, Seminars, Awards) $56 $40 ($16) -29.2% Subtotal Personal Service $440,722 $469,764 $29, % SUPPLIES AND MAINTENANCE General Maintenance Data Processing and Communication Equipment (Maintenance and Supplie $4,149 $4,406 $ % Motor Vehicle and Aircraft Expense (Fuel, Lubricants, Tires, Parts, Repair $41,746 $37,769 ($3,977) -9.5% Utilities (Natural Gas, Oil, Electric, Water/Sewage, Telephone) $22,570 $23,650 $1, % Building Maintenance (Repairs, Housekeeping, Supplies, etc.) $11,647 $12,139 $ % Office Supplies and Equipment (Repairs, Maintenance, etc.) $3,685 $2,921 ($764) -20.7% All Other General Maintenance and Supplies $23,295 $27,465 $4, % Subtotal General Maintenance $107,092 $108,349 $1, % Roadway Maintenance Lands and Buildings (includes Rest Area Janitorial) $72,425 $84,321 $11, % Roadway and Traffic Control Materials $29,971 $30,007 $36 0.1% Roads, Bridges, Trails, Walks, Ground Structures (includes Landscaping) $2,206 $3,192 $ % Snow & Ice Materials $64,625 $27,472 ($37,153) -57.5% Subtotal Roadway Maintenance $169,228 $144,993 ($24,235) -14.3% EQUIPMENT Rolling Stock (Trucks, Loaders, Trailers, Testing, Aerial, etc.) $46,934 $40,034 ($6,900) -14.7% Data Processing and Communication $14,820 $10,044 ($4,776) -32.2% Motor Vehicles/Aircraft (Autos, Vans, Buses, Trucks-1-ton, Airplanes, etc. $12,356 $11,379 ($977) -7.9% Other (Not Otherwise Listed) $5,000 $3,892 ($1,109) -22.2% Subtotal Equipment $79,111 $65,349 ($13,762) -17.4% CAPITAL HIGHWAY CONSTRUCTION System Preservation $1,322,724 $1,403,263 $80, % Local Preservation $378,786 $359,535 ($19,251) -5.1% Special Federal $42,920 $57,697 $14, % Major / New $266,254 $188,457 ($77,797) -29.2% GARVEE Bonds $83,450 $111,235 $27, % Rail Crossings / Transload Facilities $12,083 $11,268 ($814) -6.7% Statewide Programs $311,789 $211,776 ($100,013) -32.1% Subtotal Highway Construction $2,418,005 $2,343,231 ($74,774) -3.1% SUBSIDIES (Grants to Local Governments) Public Transportation $39,882 $34,864 ($5,018) -12.6% Aviation $720 $4,075 $3, % Rail $1,632 $1,571 ($61) -3.8% Other $4,435 $2,178 ($2,257) -50.9% Subtotal Subsidies $46,670 $42,689 ($3,981) -8.5% LOANS (Governmental/Non-Governmental Entities) $4,891 $7,895 $3,004 $ 61.4% BOND PAYMENTS (Principal and Interest) $185,669 $159,875 ($25,794) -13.9% MISCELLANEOUS $2,680 $2,281 ($400) -14.9% REFUNDS $1,795 $3,465 $1, % GRAND TOTAL DISBURSEMENTS: $3,455,863 $3,347,889 ($107,974) -3.1% ENDING CASH BALANCE: $1,274,760 $1,126,273 ($148,486) -11.6% (1) All activity posted between the first day of the fiscal year (July 1) and the last day of the fiscal year (June 30) without regard to the fund year appropriated. 3

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10 Transportation Funding Sources

11 Transportation Funding Sources: State The State Motor Fuel tax comprises approximately 91% of the total state revenue ODOT receives. The chart below represents the distribution of the 28 per gallon State Motor Fuel Tax. One penny of Motor Fuel Tax equates to approximately $65.6 million in revenue which would be distributed as shown below. The 28 fuel tax is comprised of a sum of five separate levies. After 2% is allocated to the Highway Operating Fund, the actual amount necessary to pay motor fuel tax refunds is transferred to the Tax Refund Fund, 0.275% is allocated to the Department of Taxation, 0.875% is allocated to the Waterways Safety Fund and 0.125% to the Wildlife Boater Angler Fund. The balance of the proceeds are distributed as follows: Ohio Department of Transportation Motor Fuel Tax Distribution Effective July 1, 2016 thru June 30, 2017 Levy ORC Section * Per O.R.C (Source: Ohio Department of Taxation, Annual Report) per Gallon State Municipal County Township LTIP % 45.0% 30.0% 25.0% 0.0% 0.0% Amount % 67.5% 7.5% 7.5% 17.5% 0.0% / Amount % 81.3% 8.0% 7.0% 3.8% 0.0% 3 ** Amount % 100.0% 0.0% 0.0% 0.0% 0.0% Amount LTIP % 0.0% 0.0% 0.0% 0.0% 100.0% Amount % 75.0% 10.7% 9.3% 5.0% 0.0% 5a Amount % 72.32% 10.33% 8.96% 4.82% 3.57% Total 28 Amount * See appendix (p 35) for explanation. First ORC section listed enacts tax, second ORC section enacts distribution. ** % share allocation shown is prior to distribution of special formula allocation for large townships, that requires equal reduction from state, municipal, and county share. For FY 2017, this was about $6.6M total. In addition to revenue from the cents per gallon tax, $166 M from the former Highway Patrol Draw was added to this section and distributed to local governments in proportion to the % shares shown. 4

12 Transportation Funding Sources: State The graph above illustrates the economic trends in motor fuel usage over the past 20 years. Overall motor fuel gallons consumed were relatively flat from FY04 through FY07. From FY07 through FY09, consumption decreased by 4.2%. The trend has been increased fuel consumption since FY09. From FY09 to FY17, consumption increased by 6.9%. 5

13 Transportation Funding Sources: State The above graph illustrates changes in gasoline consumption attributed to changes in gasoline prices and economic conditions. In FY08, the sharp rise in the average price of a gallon of gasoline from $1.32 in FY02 to $3.20, along with a struggling economy, adversely impacted gasoline consumption. Gasoline consumption decreased from a peak of 5.12 billion gallons in FY04 to 4.94 billion gallons in FY08. In FY09, the average price of gasoline dropped to $2.57/gallon, while gasoline consumed decreased to 4.88 billion gallons. This can be attributed to the economic uncertainty created by a struggling economy. The momentum of a strengthening economy resulted in an increase in gasoline consumption in FY11 (4.93 billion gallons) despite an increase in the average price of gasoline ($3.19/gallon). Gasoline prices rose to an average of $3.6/gallon in FY13, resulting in a decrease in consumption. Consumption remained relatively unchanged until fuel prices began a sharp and sustained descent from FY14 through FY16. Gasoline prices dropped to $2.22 in FY16 and gasoline consumption rose to 5.0 billion gallons. In FY17, gasoline prices rose slightly to $2.29 and gasoline consumption was 5.1 billion gallons. The graph above illustrates the effect that fuel price fluctuations have on the number of miles driven on Ohio roadways. As prices rise sharply, miles traveled decrease, and as prices fall sharply, miles traveled increase. Note that the percent change is for a 12-month period, as compared to the previous 12-month period. During FY12 - FY14, prices remained relatively high. A dramatic drop in fuel prices during the summer and winter of FY15 led to a spike in miles traveled. Miles traveled continued to increase throughout FY16 as fuel prices remained low. There was a slight increase in fuel prices during the third quarter of FY17, and the twelve month average of miles traveled is trending downward. 6

14 Transportation Funding Sources: State MOTOR FUEL TAX - $1,908 Million VEHICLE REGISTRATIONS - $726 Million TRUCK REGISTRATIONS/PERMITS - $148 Million MOTOR FUEL USE TAX - $39 Million PETROLEUM ACTIVITY TAX - $102 Million TOTAL TO ODOT - $1,202 Billion (DEBT SERVICE) - $127 Million e = estimate Source/Allocation FY 2013 FY 2014 FY 2015 FY 2016 FY 2017 ODOT $1,068 $1,086 $1,123 $1,132 $1,161 Local Government (Includes LTIP) e State Highway Patrol 16 Refunds & Transfers e Other State Agencies Total Motor Fuel Tax $1,799 $1,815 $1,854 $1,874 $1,908 e Local Government $397 $391 $404 $412 $413 Public Safety (includes Deputy Registrars State Highway Patrol ODOT OTHER Total Vehicle Registrations / Titles $707 $704 $722 $715 $726 Local Government (57.4%) $83 $87 $90 $94 $85 State Highway Patrol* ODOT Truck Registrations (42.6%)* Total Truck Registrations/Permits $145 $151 $157 $163 $148 ODOT $36 $17 $35 $36 $39 Total Motor Fuel Use Tax $36 $17 $35 $36 $39 Public Works $92 $69 $53 $102 ODOT Total Petroleum Activity Tax** $122 $95 $72 $102 Total $2,687 $2,808 $2,863 $2,860 $2,924 Total Allocated to ODOT $1,141 $1,168 $1,214 $1,189 $1,202 Total for ODOT Debt Service (124) (133) (140) (120) (127) Net for ODOT Highway Programs $1,017 $1,035 $1,074 $1,069 $1,075 * In FY12-15, a portion of the 42.6% of Truck Registrations was redirected from ODOT to State Highway Patrol. Beginning in FY16, full amount to Highway Patrol. ** PAT Tax on motor fuel limited to highway purposes since Dec FY14 amounts reflect CAT Tax transferred to PAT since Dec

15 Transportation Funding Sources: Federal Along with the State Motor Fuel Tax, there is Federal Motor Fuel Tax collected that contributes to the preservation, rebuilding, and expansion of the nation's highway system, as well as providing funding for public transit systems. From 2008 to 2017, there have also been $143.6 Billion in Federal General Revenue Fund Transfers into the Highway Trust Fund. Below is how both sources are distributed, based on percent share of contributions to Highway Trust Fund. $1.96 Billion Federal Funding Ohio s FY 2016 Federal Highway Formula funding levels are based on Fixing America s Surface Transportation Act (FAST Act), H.R.22, 114 th Congress, signed into law on December 4, In January, 2016, the Highway Account received a transfer of $51.9 billion from the General Fund pursuant to section of P.L and a transfer of $100 million from the Leaking Underground Storage Tank Trust Fund pursuant to section of the same law. The Mass Transit Account received a transfer of $18.1 billion from the General Fund. The FAST Act authorizes a total combined amount of $39.7 billion in FY 2016, $40.5 billion in FY 2017, $41.4 billion in FY 2018, $42.4 billion in FY 2019, and $43.4 billion in FY 2020 in contract authority. In FY 2017, Ohio received $1.5 billion in funding from the Highway Account and $186 million from the Mass Transit Account. Because Ohio did not receive a full 3.76% share of the available funding, $89 million of FHWA funding and $171 million of Federal Transit funding was provided to other states or used by FHWA for other purposes. $919 Million for Ohio DOT Highway Programs not Earmarked Funds used for ODOT's Interstate Maintenance, Major New, Safety and System Preservation Programs. $126 Million for Debt Service This represents the Federal funding needed for the 2017 debt service on the GARVEE bonds issued for various Major New, Major Rehabilitation, Major Bridge, and Ohio Bridge Partnership Projects. $399 Million for Local Programs Although ODOT was required to pass-through about $107 million in Federal Funding to local governments, by discretion ODOT provided $399 million to local governments, including funding for Metropolitan Planning Organizations, city and county pavements and bridges, and various enhancement projects. $35 million is used for various paving projects on state routes within urban areas, and $23.6 million was provided for Local Public Transit Assistance. (See page 9 for details) $186 Million for Mass Transit About $186 million, in total, was made available to Ohio for Mass Transit Programs, from the Mass Transit Account of the Federal Highway Trust Fund. $60 Million for Emergency Relief FHWA provides funds for emergency repairs and permanent repairs on Federal-aid highways that have suffered serious damage as a result of natural disasters or catastrophic failure from an external cause. $260 Million Not Available to Ohio DOT Not all federal trust fund excise tax revenues attributed to Ohio are returned to Ohio. As a result, about $89 million from the Highway Account and $171 million from the Mass Transit Account were provided to other states or used by FHWA for other purposes. Not all of the Federal Motor Fuel tax is distributed to the Highway Trust Fund. One tenth of one cent per gallon of all fuel sold is distributed to the Leaking Underground Storage Tank Fund. For Ohio, this means $6 million of Motor Fuel Taxes were diverted away from Highway & Transit programs. 8

16 Transportation Funding Sources: Federal $214.8 Million - MPO / Large Cities ODOT was required to pass through about $107 million in Surface Transportation Block Grant Program (STBGP) and Transportation Alternatives (TA) funds to Ohio s urban areas. In addition to the required suballocation, ODOT also provides additional STBGP funds, Congestion Mitigation & Air Quality funds, and Transportation Alternatives funds, which in total, amounts to almost twice the required $4 Million - Safe Routes to School The purpose of this program is to enable and encourage children, including those with disabilities, to walk and bicycle to school; to make walking and bicycling to school safe and more appealing; and to facilitate the planning, development and implementation of projects that will improve safety, and reduce traffic, fuel consumption, and air pollution in the vicinity of schools. $35 Million - Urban Paving Initiative This annual allocation is provided to ODOT s districts to pay for resurfacing on state routes within municipalities. The districts prioritize projects based on pavement condition ratings. $10.1 Million - Small Cities This program provides funds by application to Ohio s 58 small cities for road, safety and signal projects on the Federal-aid system. $23 Million - Local Public Transit Assistance Funds provided in FY17 consist of Transit Preservation Partnership ($17m) and Transit Urban Operational ($6m) to maintain Ohio transit systems and to help urban transit agencies with operational costs. $3.5 Million - National Highway Freight Program This program improves the efficiency of freight movement. $5.0 Million Ohio Bridge Partnership Funds are available to assist counties and cities to repair and replace county and city-owned bridges. $11.0 Million Transportation Alternatives Funds are available for ODOT-owned/maintained facilities, and to local governments outside MPOs by an annual application process for projects that enhance surface transportation sites. Funding categories are Historic & Archaeological, Scenic & Environmental, and Bicycle & Pedestrian. $34.4 Million - County Local Bridge ODOT passes through money to counties to spend on off-system bridges. This amounts to about $29 million for FY17, and then adds additional bridge funds to help counties eliminate bridge deficiencies. These funds are administered by the County Engineer s Association of Ohio. $28.6 Million - County STBGP Funds are provided to counties for projects that can be used for road and bridge work, and safety projects. These funds are administered by the County Engineer s Association of Ohio. $10.1 Million - Municipal Bridge Municipal corporations may apply for federal funds for bridge replacement or bridge rehabilitation. $20.0 Million - Local Major Bridge ODOT passes Federal funds to counties and municipalities to provide for bridge replacement or major bridge rehabilitation projects. ODOT works with Ohio's County Engineers to identify candidate projects. 9

17 Transportation Funding Sources: Federal Federal Donor/Donee States The map below shows the range of "cents-per-dollar" rates of return for each State for the Formula Obligation Limitation provided from the Highway Account as compared to excise tax contributions into the Highway Account. Most states have recently been receiving formula obligation limitation in excess of their excise tax contributions, requiring the transfer of a total of $114.7 Billion in GRF and Leaking Underground Storage Tank Fund transfers into the Highway Account over the last 9 years, including $51.9 billion in FY 2016 per the recently passed FAST Act. Calculations compare the dollars of FY17 formula obligation limitation each state received from the Highway Account, to the FY15 estimated contribution into the Highway Account. 10

18 Transportation Funding Sources: Bonds ODOT uses two types of Highway Bonds: those that are retired with State Highway Revenue, and those that are retired with a combination of Federal Highway Revenue and State Highway Revenue. Both types of bonds are issued by the Treasurer of State s Office. Currently, ODOT State Highway bonds are issued under the authority of Section 2m, Article VIII, of the Ohio Constitution (ORC Section thru ), and Federal Highway bonds are issued under the authority of Section 13, Article VIII of the Ohio Constitution (ORC Section ). The current authority in Section 2m allows no more than $220 million of State Highway Capital Improvement Bonds to be issued in any fiscal year, plus any unused authority from prior years, and not more than $1.2 billion in principal amount thereof can be outstanding at any one time. Debt Service draws on State Motor Fuel Tax Revenues for debt owed in any one fiscal year begins with September of that fiscal year. Highway Capital Improvement Bonds are issued for the purpose of acquisition, construction, reconstruction, expansion, improvement, planning and equipping of highways, including those on the state highway system and urban extensions thereof, those within or leading to public parks or recreation areas, and those within or leading to municipal corporations, and for participation in such highway capital improvements with municipal corporations, counties, townships, or other governmental entities as designated by law. The American Reinvestment & Recovery Act (ARRA) provided for provisions that allowed state and local governments to take advantage of a new federal subsidy that provided for reimbursement of up to 35% of the total annual interest costs paid. This provision is known as Build America Bonds (BABs) the intent of which was to encourage state and local investment to further advance the economic recovery. ODOT had one state bond issuance in Fiscal Year 2010 which took full advantage of the BABs subsidy. In addition, ODOT had one State and one Federal bond issuance in Fiscal Year 2011 that took partial advantage of the BABs subsidy. Section 2m - Highway Capital Improvements Obligations BONDING AUTHORITY BALANCES Fiscal Section 2m / Article VIII General Section 2m Balance of Year Ohio Constitution Assembly General Assembly Not Authorized by Bonds General Assembly Bonding Authority Bill No. Issue Authority General Assembly Issued Issue Authority 1996 $220,000,000 SB 257 $340,000,000 $0 $340,000, $220,000,000 $100,000,000 $175,000,000 $165,000, $220,000,000 SB 230 $432,500,000 $0 $597,500, $220,000,000 $7,500,000 $400,000,000 $197,500, $220,000,000 HB 163 $320,000,000 $225,000,000 $292,500, $220,000,000 $120,000,000 $200,000,000 $92,500, $220,000,000 HB 73 $257,500,000 $0 $350,000, $220,000,000 $182,500,000 $135,000,000 $215,000, $220,000,000 HB 87 $420,000,000 $160,000,000 $475,000, $220,000,000 $20,000,000 $140,000,000 $335,000, $220,000,000 HB 68 $360,000,000 $180,000,000 $515,000, $220,000,000 $80,000,000 $190,000,000 $325,000, $220,000,000 HB 67 $290,000,000 $140,000,000 $475,000, $220,000,000 $150,000,000 $0 $475,000, $220,000,000 HB 2 $352,000,000 $170,000,000 $657,000, $220,000,000 $88,000,000 $175,000,000 $482,000, $220,000,000 HB 114 $123,000,000 $0 $605,000, $220,000,000 $317,000,000 $154,405,000 $450,595, $220,000,000 HB 51 $220,000,000 $249,005,000 $421,590, $220,000,000 $220,000,000 $0 $421,590, $220,000,000 HB 53 $313,000,000 $228,000,000 $506,590, $220,000,000 $127,000,000 $0 $506,590,000 TOTAL $4,840,000,000 TOTAL $3,428,000,000 $1,412,000,000 $2,921,410,000 $506,590,000 11

19 Transportation Funding Sources: Bonds ODOT's policy regarding State bond debt is to have no more than 20% of State revenue dedicated to debt service. * The debt service amount is based on the debt service payment schedule. It does not include offsets due to investment income or premiums. 12

20 Transportation Funding Sources: Bonds The second type of bonds is GARVEE Bonds, Federal Grant Anticipation Revenue Vehicles. A GARVEE bond is a debt financing instrument authorized to receive Federal reimbursement of debt service and related financing costs under Section 122 of Title 23, United States Code. GARVEEs can be issued by a state, a political subdivision of a state, or a public authority. States can receive Federal-aid reimbursements for a wide array of debt-related costs incurred in connection with an eligible debt financing instrument, such as a bond, note, certificate, mortgage, or lease. Reimbursable debt-related costs include interest payments, retirement of principal and any other cost incidental to the sale of an eligible debt instrument. * The debt service dollar amount is based on the debt service payment schedule and is not reduced by proceeds from bond premiums or investment income earned. In addition, it includes both the state portion and federal portions of the GARVEE debt service. ODOT's policy regarding Federal bond debt is to have no more than 20% of Federal revenue dedicated to debt service. 13

21 Transportation Funding Sources: Bonds A portion of State and Federal Motor Fuel Tax revenue is used to pay down ODOT s total bond debt (principal and interest). At the end of FY 2017, ODOT had approximately $1.9 billion dollars in outstanding principal and interest, where 61% represents the state bond debt and 39% represents federal bond debt. In addition to the highway bonds shown above, in January 2015 ODOT issued $84.3 million in Capital Facilities Lease- Appropriations Bonds. The purpose of the Bonds is to pay for the cost of constructing various outposts and equipment storage and full service facilities, statewide. These bonds mature in 2030, with debt service in FY 2017 totaling $8.1 million. 14

22 Transportation Funding Sources: Operating Overall, operating expenses decreased in FY17 by $46.7m or 5.5% compared to FY16. Payroll and personal services increased by $32.9m or 7.5%. This is primarily the result of a 2.5% pay increase and other payroll-related fringe benefits in addition to ODOT s participation in the OAKS enterprise Project. The Department s staff level has been reduced from 7,800 employees in FY94 to 4,895 employees in FY17. The Department has continued to scrutinize the filling of positions to hold down operating costs. The agency has the authority to hire 5,115 employees. The savings from not filling these vacancies is used to help cover the increased operating costs in other areas such as fuel, salt, and utilities, in addition to redirecting funds to the capital program. Employee levels equal the number of permanent appointment types as of the last payroll paid out during that fiscal year (PPE mid-june). Permanent appointment types include Full-time Permanent, Part-time Permanent and Full-time Interim Internal employees. The Department has managed to maintain the largest construction program in Ohio history with personnel levels at or near a 30 year low. 15

23 Transportation Funding Sources: Operating Payroll is the largest component of operating expenses. The increase in overtime in 2014 was the result of a severe snow and ice season as the last two winters have been mild. The gross wages increased significantly from FY 2015 due to a 2.5% pay raise in FY 2016 and FY Employer paid benefits have increased from FY 2016 to FY 2017 due to a rise in health care. FISCAL YEAR Employer Fringe $39.9 $37.0 $36.7 $41.4 $ Employer Paid Benefits $124.0 $128.9 $126.1 $128.8 $134.1 Overtime $12.3 $18.4 $14.7 $12.0 $ Gross Wages $229.6 $227.4 $224.6 $232.7 $ Total Payroll $405.8 $411.7 $402.2 $415.0 $ ) Employer Fringe and Gross Wages increased in 2016 due to a one-time $750 employee bonus payment and a 2.5% wage increase increased due to 2.5% wage increase. 2) Overtime was higher than usual in fiscal year 2014 due to a harsher snow and ice season. 16

24 Transportation Funding Sources: Operating FISCAL YEAR Health Care, Dental, Vision, Life $53.9 $59.0 $58.5 $56.5 $63.3 PERS $39.8 $39.8 $38.8 $39.8 $41.6 Workers' Comp $8.4 $8.1 $8.0 $7.7 $4.2 All Other $21.9 $21.9 $20.8 $24.8 $25.1 Total $124.0 $128.9 $126.1 $128.8 $ ) In 2014, healthcare costs increased 10.4% part of the increase in total cost for FY 2014 was due to the fact that there were no health deductions for 2 pay periods in FY In 2015, healthcare costs decreased.80%. In 2016, healthcare costs decreased by roughly 3.4%. In 2017, healthcare costs increased by approximately 13%. 2) In 2016, a slight increase in PERS costs were associated with the $750 bonus payment and a 2.5% wage increase within the fiscal year. In 2017, a slight increase to PERS costs was associated with a continued 2.5% wage increase along with ODOT hiring 44 additional employees within the fiscal year. 3) Annual fluctuations in ODOT's Workers' Compensation rates are the primary cause for variances from year to year. In 2014, it fell to %; and in 2015, it rose to %; in 2016, it fell to %. In 2017, Workers' Compensation rate decreased to %, as the BWC's actuarial is working towards reducing premiums the department pays in order to more evenly distribute claims filed for BWC payments on behalf of ODOT. 4) The Others benefit category includes a Premium for Disability, Accrued Leave Fund, Collective Bargaining, Medicare, EEO (Equal Employment Opportunity), HMO Communications Surcharge, Child Care Voucher Contribution, EAP (Employee Assistance Program), Workforce Development Fund, OBM Accounting, Human Resource Charge, Parental Leave Benefit Fund, Enterprise Services and Unemployment Compensation. 17

25 Transportation Funding Sources: Operating The fluctuation in overtime hours is largely dependent on the severity of Ohio s winters. Fiscal year 2014 and 2015 were higher than normal due to a harsh winter with multiple snow and ice events, while fiscal year 2016 and 2017 were milder and required less overtime for the department. Fiscal Year Overtime Dollars Total Gross Pay* % of Overtime out of Total Gross Pay 2013 $12.3 $ % 2014 $18.4 $ % 2015 $14.7 $ % 2016 $12.0 $ % 2017 $13.0 $ % *Total Gross Pay = Gross Wages+Overtime+Fringe Benefits 18

26 Transportation Funding Sources: Operating Along with its full-time employees, ODOT uses outside services to complete tasks such as design work for construction projects, construction inspections, right of way acquisition and administrative services. These costs have averaged 58.50% in relation to ODOT s total payroll costs for the past five years. 19

27 Transportation Funding Sources: Operating Professional Contracts Encumbered for the Following Services Design Environmental Right of Way $150 $80 $16 $70 $14 $120 $60 $12 Millions $90 $60 Millions $50 $40 $30 Millions $10 $8 $6 $20 $4 $30 $10 $2 $ Fiscal Year $ Fiscal Year $ Fiscal Year Millions Studies $44 $40 $36 $32 $28 $24 $20 $16 $12 $8 $4 $ Fiscal Year Millions Personal Services $50 $40 $30 $20 $10 $ Fiscal Year Millions Construction Inspection $50 $40 $30 $20 $10 $ Fiscal Year Management Review Bridge Inspection Research Millions $3.00 $2.50 $2.00 $1.50 $1.00 $0.50 $ Fiscal Year Millions $6 $5 $4 $3 $2 $1 $ Fiscal Year Millions $11 $10 $9 $8 $7 $6 $5 $4 $3 $2 $1 $ Fiscal Year *Note: Encumbrances are with regard to fund year and represent the encumbered balance as of the reporting date. Personal Services - The amount of funds encumbered for this category has increased 42.7% or $18.0M during Fiscal Year 2017 when compared to Fiscal Year The following project(s) contributed to a majority of the increase in encumbered dollars: D28 - $10.0M OAKS Enterprise, Supplement 1 for 7/1/16-6/30/17. Environmental - The amount of funds encumbered for this category has increased 25.6% or $15.8M during Fiscal Year 2017 when compared to Fiscal Year The following project(s) contributed to a majority of the increase in encumbered amounts: D6 - $3.6M Hard shoulder running installation of IR-670 between 4 th Street and IR-270. D4 - $2.6M Bridge replacement of the SR-8 structure with 2 new major bridge structures over the Cuyahoga river valley between Glenwood and Perkins Avenues. 20

28 Transportation Funding Sources: Capital (1) Actual usage of legislatively approved appropriations for that fund year, established in the approved Legislative Budget, without regard to when the activity actually occurred MPO $ $ $ $ $ County Bridge Ohio Turnpike Mitigation City Bridge Local Major Bridge Ohio Bridge Partnership Rural County Small Cities Enhancements Safe Routes to School Transportation Improvement Dist Urban Paving (2) LOCAL PROGRAM TOTAL $ $ $ $ $ (2) ODOT Budgeted figures attributed to Urban Paving in accordance with the Urban Paving Policy. Urban Paving is typically $35 million. For additional information about funding sources for local governments entities, see page 48 of the Appendix (Transportation Funding Sources). 21

29 Transportation Funding Sources: Capital *Total FY 17 Contracts Awarded by Transit and Aviation = $228.8m. The totals in the above chart DO NOT include Preliminary Engineering or Right of Way. Brief descriptions of each category can be found in the Appendix on page 42. With contracts awarded over the past few years reaching record breaking numbers, capital expenditures have followed suit, averaging $2.3 billion of actual expenditures for the past five years Right of Way $ 118 $ 84 $ 138 $ 89 $ 80 Preliminary Engineering $ 166 $ 231 $ 212 $ 214 $ 184 Construction $ 1,786 $ 1,830 $ 1,956 $ 2,115 $ 2,079 Highway Related Total $ 2,070 $ 2,145 $ 2,306 $ 2,418 $ 2,343 Transit $ 43 $ 35 $ 47 $ 76 $ 226 Aviation $ 1 $ 1 $ 1 $ 6 $ 3 Modal Total $ 43 $ 36 $ 48 $ 82 $ 229 Grand Total $ 2,113 $ 2,180 $ 2,354 $ 2,500 $ 2,572 22

30 Transportation Funding Sources: Capital ODOT s actual capital dollar outlay for infrastructure has increased over the past 20 years; however, actual buying power ( real dollar value due to inflation) has remained stagnant over the same time period. If adjusted for inflation using the CPI, Highway and Maintenance contracts have actually increased by approximately $70.5m since FY 1998 based on real dollar value. Using the ODOT internal BART (Bid Analysis Review Team) index, real dollar value for Highway and Maintenance contracts has decreased roughly $267m since FY The chart below shows this trend by taking the actual dollar amount of contracts sold for each fiscal year (which are shown in millions in the table below the graph) and comparing it with an amount that has been adjusted for inflation over the same period of time (this graph is using a Consumer Price Index base for , and a (BART) Producer Price Index base for 2001). *CPI Index Base Year = 100% *BART Index Base Year 2001 = 100% 1994 dollar value comparison Fiscal Year $ Awarded (Millions) $957 $1,154 $1,235 $1,169 $1,239 $1,069 $1,071 $1,158 $1,299 $1,387 Fiscal Year $ Awarded (Millions) $1,238 $1,297 $1,615 $1,434 $1,388 $1,552 $2,068 $2,094 $1,584 $1,544 23

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32 State Infrastructure Bank

33 State Infrastructure Bank Loan Program Background The State Infrastructure Bank (SIB) program was capitalized with two authorizations from the Ohio State Legislature totaling $40 million in GRF funds, $10 million in State Motor Fuel Tax funds, and $87 million from Federal Title XXIII Highway funds. Any highway or transit project eligible under Title XXIII, as well as aviation, rail and other intermodal projects are eligible for direct loan funding under the SIB. Bond Program Background With the assistance of the Ohio Treasurer s office, the Ohio Department of Transportation established two investment grade bond funds to leverage the SIB funds available to assist political entities. Both funds are structured with an open master indenture which allows bonds to be issued as needed, on a project-by-project basis. With each bond fund, all repayments from the existing GRF and Title 23 loan portfolio accounts are pledged to support any borrower repayment shortfall. This pledge is followed by cash in each respective account and lastly the program reserve bond fund will be accessed in the event of a borrower defaulting or having a shortfall in their payment. In May 2016, the State Transportation Infrastructure Bond Fund (GRF account) was upgraded from a Fitch rating of AAto a Standard & Poor s rating of AA+. The rating of AA+ was affirmed by Standard & Poor s in May 2017 with a bond issuance to Licking County Transportation Improvement District. With this issuance the bond reserve requirement was reduced from 10% to 5% to increase the capacity of this program. The bond program was established in September The program funds projects that do not qualify as federal eligible. The program has approximately $60.75m in bond issuance capacity available. The Federal Title XXIII Transportation Infrastructure Bond Fund (Title 23 account) was established in July The program carries an AA rating from Fitch. This bond was reaffirmed by Fitch Ratings in June This bond fund program is for projects that are Title XXIII federal eligible. Currently, the bond program has approximately $93.67m in issuance capacity available. Both programs are authorized in the Ohio Revised Code, Sections and Administration ODOT is the primary decision maker for SIB projects. Within ODOT, the SIB Loan Committee manages the approval process. ODOT s Division of Finance promulgates the application process and is the contact source for information on the program. The Division of Finance receives applications, reviews, and makes recommendations to the SIB Loan Committee. ODOT administers the loans using prudent financial guidelines and policies related to desirability, timing, and relative risk of the project. ODOT does not intend to undertake projects which are of limited public use or could be funded in full by private financial institutions SIB Snapshot The portfolio of the SIB for Fiscal Year 2017 included thirteen loans for a total of $28,415,323. Since inception, the SIB program has issued 206 loans in the amount of $604.0 million and nine bond issuances in the amount of $58.3 million; totaling $662.2 million for the SIB loan and bond programs. The bank has assisted communities with 182 highway, four railroad, two transit, fourteen aviation, one bikeway and twelve other infrastructure projects. 24

34 State Infrastructure Bank SIB ACCOUNTS FUND 2120 Federal Funding Known as First Generation, this funding originally capitalized the SIB. It is used for Title 23 eligible projects (highway or transit). Use of this funding requires that the borrower follow all federal mandates. Federal funds cover only 80% of the project costs and a 20% match of Motor Fuel Tax (MFT) SIB funds or a local match must be used. Title 23 (Second generation funds or Washed funds) This funding is known as Second Generation, or Washed funds and may be used on projects that are Title 23 eligible. All other federal requirements are removed with these funds yet all state guidelines must be followed. This funding is used for 100% of the funding for projects and has no required state match. Motor Fuel Tax (MFT) The state Motor Fuel Tax fund is used as the non-federal match to a Title 23 federally eligible project (20% share), or as 100% pure state funds for local roadway projects. Constitutionally, these funds cannot be used for any other transportation mode. FUND 2130 General Revenue Fund (GRF) The GRF account is used to support industrial parks, service roads, railroad projects, aviation projects and local roads or for any infrastructure related project that is not Title 23 eligible. SIB BOND PROGRAM ACCOUNTS The bond programs were created to generate additional financing for political subdivisions and to fund larger transportation projects. Bonds are issued on behalf of the SIB borrower by the ODOT Division of Finance in conjunction with the State Treasurer s office. State Transportation Infrastructure (GRF) Bond Fund The projects eligible for this program include local roadways, rail, water, and aviation. This bond fund is another source of funding for projects that do not qualify under Title 23 regulations. Federal Title XXIII Transportation Infrastructure Bond Fund Under this program, a bond issuance must be Title 23 federal eligible, highways and transit related project. A project may be funded 100% and has no required state match. For additional information about funding sources for local government entities, see page 48 of the Appendix (Transportation Funding Sources). 25

35 State Infrastructure Bank OHIO DEPARTMENT OF TRANSPORTATION STATE INFRASTRUCTURE BANK FUNDS 2120 AND 2130 COMBINED STATEMENT OF REVENUES AND EXPENDITURES IN FUND BALANCES FOR YEAR ENDING JUNE 30, 2017 Beginning Cash Balance: $ 126,536,161 Revenues: Investment Earnings $ 1,027,536 Principal Loan Repayment (GRF) 2,624,033 Interest Payment on Loan (GRF) 780,589 Principal Loan Repayment (FHWA) 6,094,474 Interest Payment on Loan (FHWA) 83,389 Principal Loan Repayment (2nd Generation) 9,046,884 Interest Payment on Loan (2nd Generation) 1,630,632 Principal Loan Repayment (State Motor Fuel) 1,284,919 Interest Payment on Loan (State Motor Fuel) 117,518 Transfer In - Fund 7002 to SIB Fund ,000,000 Administrative Fees 36,941 Total Revenues $ 27,726,916 Expenditures: Federal Highway Funds $ 18,653,977 General Revenue Funds 4,295,346 Motor Fuel Tax Funds 7,904,192 Second Generation/Title 23 Funds 18,143,526 Administrative Fees - Court Claims / Refunds 0 Total Expenditures $ 48,997,041 Ending Cash Balance $ 105,266,036 26

36 State Infrastructure Bank OHIO DEPARTMENT OF TRANSPORTATION STATE INFRASTRUCTURE BANK BALANCE SHEET FOR FUNDS 2120 AND 2130 FOR YEAR ENDING JUNE 30, 2017 Assets and Other Debits Assets: Uncommitted Cash $ 13,329,211 Cash Reserve for Approved Loans Already Encumbered 34,903,357 Cash Reserve for Approved Loans Not Yet Encumbered 57,033,468 Total Cash on Hand $ 105,266,036 Receivables: Loans Already Disbursed: Principal Due $ 123,960,664 Interest Due 22,503,435 Administrative Fees 25,853 Total Receivables $ 146,489,951 Total Assets $ 251,755,988 Equity Original Seed Money Federal $ 87,000,000 GRF 40,000,000 Motor Fuel Tax 15,000,000 Total $ 142,000,000 Investment Earnings $ 56,912,446 Interest from Loans 52,843,541 Total Equity $ 251,755,988 27

37 State Infrastructure Bank State Fiscal Year Total * # of Loans $ of Approved Loans (in millions) $ $6.0 $9.0 $6.9 $19.8 $5.3 $20.8 $72.0 $70.4 $15.9 $28.4 $604.0 # of Bonds $ of Approved Bonds (in millions) $6.8 $11.7 $9.4 $17.7 $7.9 $4.7 $58.3 Number of Loans: 206 Amount of Approved Loans: $604.0 Number of Bonds: 9 Amount of Approved Bonds: $58.3 Total: 215 Total: $662.2 * Annual amounts may not equal to total due to rounding. Excludes loans that were approved, but cancelled prior to closing on the loan. 28

38 State Infrastructure Bank There were a total of 13 State Infrastructure Bank loans approved in FY 2017, for $28.4 million. The 13 loans were for roadway related projects. There was one bond approved and issued out of the State Infrastructure Bank for FY17. This brings the final number of loans/bonds in the SIB portfolio as of FY 2017 to 215, totaling approximately $662.2 million, since the inception of the program. SIB LOANS AND BONDS ISSUED SINCE PROGRAM INCEPTION APPROVED, ACTIVE AND PAID OFF LOANS AND BONDS as of June 30, 2017 ODOT District Authorized % of Funds Approved * Active Paid off Approved * Active Paid-off District Location Loans Bonds Amount loaned/bonded Loans Loans Loans Bonds Bonds Bonds 1 Lima 9 $5,718, % Bowling Green 13 1 $35,993, % Ashland 22 1 $30,416, % Akron/Canton 37 2 $80,111, % Jacksontown 16 1 $51,991, % Columbus 10 1 $87,017, % Dayton 24 1 $57,745, % Cincinnati 14 2 $110,334, % Chillicothe 7 $10,226, % Marietta 7 $7,135, % New Philadelphia 21 $20,428, % Cleveland 26 $165,117, % $662,237, % Average loan amount is $2,931,927 Average bond amount is $6,473,333 *Approved loans or bonds means the SIB loan committee has approved but closing documents have not been executed. SIB Loans Approved in FY 2017 BORROWER PROJECT LOAN AMOUNT Twinsburg Township Marwell Estates road reconstruction project $2,040,698 Montgomery County TID/Brookville Martket Street extension project $1,976,000 Montgomery County TID Austin Road enchancement project $704,000 Tuscarawas, Village Local roadway rehabilitation $98,046 Martins Ferry 8th Street slip repair $192,000 Holmes County County Road repaving program $2,508,000 German Township Eby Road repaving project $102,000 Brunswick/NOACA North Carpenter Road $9,712,000 Cleveland/NOACA Tower City bridge project $8,300,000 Lorain 12 Local road rehabilitation $1,547,329 Toledo Lucas County Port Authority Downtown Toledo parking enhancement & improvements $604,000 East Liverpool Garfield St/St. Clair retaining walls project and repaving of lo $302,000 Carey Two access roads improvements and paving $329,250 TOTAL $28,415,323 Note: The loan amount reflects the total principal approved by the SIB committee. It does not reflect the actual amount disbursed during the fiscal year. SIB Bond Approved in FY 2017 BORROWER PROJECT LOAN AMOUNT Licking County TID State Route 310 widening $4,745,000 TOTAL $4,745,000 29

39 State Infrastructure Bank The graph below depicts the SIB cash balances as of June 30, 2017 available for future loans. These amounts represent the uncommitted cash balances for Federal, Title 23, State Motor Fuel Tax, and General Revenue Fund accounts. Note: Total available to lend is calculated net of debt service totaling $1,079,

40 State Infrastructure Bank 31

41 State Infrastructure Bank STATE INFRASTRUCTURE BANK (SIB) PROJECTS SIB projects include those found below and are depicted on the next page. Jackson County Bridge projects With a SIB loan the county advanced two bridge replacement projects by two years. The county engineer was concerned with the deficient condition of the bridges and reduced weight limits. The first replaced structure is located on County Road 13 over Black Fork stream which flows into the Ohio River. The new bridge is a single span prestressed concrete on cap pile abutments. The second bridge replaced was over Bucklick Creek on Township Road 505. The original bridge was built in 1901 and rehabilitated in The new structure is also a single span bridge. Total Project Costs: $944,000 SIB Loan Amount: $944,000 Licking County Transportation Improvement District (TID) State Route 310 The project improves State Route 310 from Interstate 70 to State Route 40 in order to accommodate increased traffic from the construction of an Amazon fulfillment center. The new facility has exceeded the original estimate of 1500 new fulltime jobs and 4500 seasonal positions. The road improvements include widening from two lanes to five lanes with traffic signal improvements. This project was funded through the SIB General Revenue Fund bond program. The bonds were issued at a rate of 3.16% with a 25 year term. Total Project Costs: $7,800,000 SIB Bond Amount: $4,745,000 German Township (Montgomery County) Eby Road The repaving of Eby Road between State Route 4 and the Butler County line for 0.7 miles. Project work included the milling and 2 removal of asphalt and repaving the road with 2.5 of hot mix asphalt. Total Project Costs: $102,000 SIB Loan Amount: $102,000 City of Columbus (Franklin County) Hamilton Road S Curve The project entailed relocating a portion of existing N. Hamilton Road beginning north of Preserve Boulevard and connecting at the intersection of E. Dublin Granville Road with the construction of an S-Curve roadway and three roundabouts. The new roadway opened up an area that is currently farmland which will be used for a $250 million mixed-use development. The S-Curve will serve to alleviate existing traffic issues in the area as well as facilitate the development of office, residential and other commercial uses. This project was funded through the SIB General Revenue Fund bond program. The bonds were issued at a rate of 2.97% with a 20 year term. Total Project Costs: $11,780,000 SIB Bond Amount: $7,900,000 City of Lorain (Lorain County) State Route 57 and various local roads Lorain obtained a SIB loan for the rehabilitation, repair, and repaving of various roads in and around the city. The financing for their local repaving program was in conjunction with an Ohio Public Works Commission grant. The remaining funds were the local match for the State Route 57 repaving project. These projects are a continuing program to bring the City s roads up to an acceptable level of service. Total Project Costs: $3,033,228 SIB Loan Amount: $1,633,000 32

42 State Infrastructure Bank STATE INFRASTRUCTURE BANK PROJECTS City of Columbus Hamilton Road S Curve Before City of Lorain Local Road Maintenance After Licking County TID State Route 310 widening German Township Eby Road Jackson County Bridge Replacements 33

43 Appendix

44 Appendix 34

45 Appendix SOURCE AND DISTRIBUTION OF OHIO 28 PER GALLON MOTOR FUEL TAX The motor vehicle fuel tax is composed of five separate levies. Each of these levies is distributed in a different manner. Prior to any distributions, the following transfers or deposits of receipts are made: (1) Monthly amount necessary to pay motor fuel tax refunds. (2) 2% of previous month's receipts to the credit of the Highway Operating Fund (Fund 7002). (HB 53 - Sec st GA) (3) 0.875% to the Waterways Safety Fund (RC Section , , ) (4) 0.125% to the Wildlife Boater Angler Fund (RC Section , ). (5) 0.275% to the Motor Fuel Tax Administration Fund (RC Section ). Taken from levy only - prior to distribution: (6) Monthly amount of tax used as a credit against fuel use tax (IFTA) to Highway Operating Fund (RC Section (B)) (7) An amount equal to five cents per gallon times the number of gallons sold at stations operated by the Ohio Turnpike Commission to the Commission for turnpike projects (RC Section (C)(2)). (8) Monthly $100,000 allocation to the Grade Crossing Fund (RC Section , ). Rate Per Gallon Percent of Percent of Cent Share and Code Section 28 Total Tax Levied Disposition of Revenue Distribution $0.02 (ORC Section ) (R.C. Section ) 7.1% 45.0% to the state Highway Operating Fund (Fund 7002). $ % to municipalities from the Gasoline Excise Tax Fund (Fund 7060), $0.006 according to their proportionate share of motor vehicle registrations. 25.0% to all counties in equal amounts from the Gasoline Excise Tax Fund (Fund 7060) $0.005 $0.020 $0.02 (ORC Section , ) (R.C. Section ) 7.1% 67.5% to the state Highway Operating Fund (Fund 7002). $ % to municipalities from the Gasoline Excise Tax Fund (Fund 7060), $0.002 according to their proportionate share of motor vehicle registrations. 7.5% to counties in equal amounts from the Gasoline Excise Tax Fund (Fund 7060). $ % to all townships in equal amounts from the Gasoline Excise Tax Fund (Fund 7060 $0.004 $0.020 $0.08 (ORC Section ) (R.C. Section ) 28.6% 81.25% to the state Highway Operating Fund (Fund 7002). (1) $ % to the Gasoline Excise Tax Fund (Fund 7060): 42.86% to municipalities / proportionate share of mv registrations. (1) $ % to counties in equal amounts. (1) $ % to townships depending on new formula amount. $0.003 $0.080 (1) 1/3 of New Formula Amount deducted and allocated to Large Townships Each 1/3 share was approximately $2.2 m in FY $0.01 (ORC Section ) (R.C. Section ) 3.6% 100.0% to the state for highway bond retirement funds, as long as required; $0.010 thereafter, 100% to the state Highway Operating Fund (Fund 7002). (ORC Section ) 6.7% or 1 cent of the 15 cents goes to the Local Transportation $0.15 Improvement Program Fund (Fund 7052; RC Section ) $0.010 (R.C. Section ): 53.6% The remaining 14 cents is distributed as follows: 75.0% to the state Highway Operating Fund (Fund 7002), except those amounts $0.105 certified annually by Treasurer of State for "Issue 2" bond retirement are deposited in the Highway Capital Improvements Bond Retirement Fund (Fund 7072; RC Section ) rather than the Highway Operating Fund. 10.7% to municipalities from the State & Local Highway Distribution Fund (Fund 7068), $0.015 according to their proportionate share of motor vehicle registrations. 9.3% to all counties in equal amounts from the State & Local $0.013 Highway Distribution Fund (Fund 7068). 5.0% to all townships in equal amounts from the State & Local $0.007 Highway Distribution Fund (Fund 7068). $0.150 $ % $0.280 Note: For FY17, after revenue is deposited according to the above formula, the following annual transfer amounts were required out of the Highway Operating Fund (7002); $166 million to Gasoline Excise Tax Fund (7060); $16 million to Roadwork Development Fund (4W00); $400,000 to Deputy Inspector General for ODOT Fund (5FA0) $39,199 to Energy Strategy Development Fund (5EG0) 35

46 Appendix DISTRIBUTION OF STATE MOTOR VEHICLE REGISTRATION FEES ORC 4501, 4503 & 4504 PASSENGER VEHICLE $31 (plus $3.50 registrar fee) DISTRIBUTION BASIS $11 To Department of Public Safety - State Highway Patrol $20 Balance Distributed as Follows: 34% To County or Municipality in which vehicle is registered 61% 5% Divided Equally Among Counties 47% To County in which vehicle is registered 9% To Counties in ratio of total county mileage under jurisdiction of County Commissioners to total county road mileage in state. 5% To Townships in ratio of total township mileage under jurisdiction of each township to total township road mileage in state. COMMERCIAL TRUCKS AND TRACTORS (Gross Vehicle Weights of 26,001 lbs. or more) OHIO FEES RANGE FROM $385 TO $1,370 AND VARY ACCORDING TO WEIGHT $30 To Department of Public Safety - State Highway Patrol Balance Distributed as Follows: 42.6% To Department of Public Safety - State Highway Patrol * 57.4% To Local Governments as Follows: 34% To County or Municipality in which vehicle is registered * Per HB53 131st General Assembly, ORC LOCAL PERMISSIVE FEES ** 61% 5% Divided Equally Among Counties 47% To County in which vehicle is registered 9% To Counties in ratio of total county mileage under jurisdiction of County Commissioners to total county road mileage in state. 5% To Townships in ratio of total township mileage under jurisdiction of each township to total township road mileage in state. THREE LEVIES at $5 up to $15 To Counties that assess fee *** ONE LEVY at $5 To Townships that assess fee FOUR LEVIES at $5 up to $20 To Municipalities that assess fee ** $20 is the maximum permissive tax amount, which can be a combination of county, township and/or municipal levies. *** However, if the county enacts ORC , 50% of collections from municipality residents is distributed to the municipality, and 30% of collections from non-municipal residents is distributed to the township, or, if the county enacts , 30% of collections from non-municipal residents is distributed to the township. (May be increased or decreased by township resolution and county approval. 36

47 Appendix APPORTIONMENT FORMULAS - FEDERAL-AID HIGHWAY PROGRAM Fixing America s Surface Transportation Act was signed into law (P.L ) December 4, 2015 Statutory citation: FAST ACT 1101, 1104; 23 U.S.C. 104, 130 Overview The FAST Act builds on the changes made by MAP-21, improving mobility on highways, creating jobs, supporting economic growth and accelerating project delivery and promoting innovation. As with MAP-21, the FAST Act authorizes a single amount for each year which is apportioned among the States and then divided among individual apportioned programs. Total funding for Federal-aid highway formula programs The FAST Act authorizes a total nationwide combined amount of Federal funding for FY 2016 through FY 2020 in contract authority ($39.7 billion in FY 2016; $40.5 billion in FY 2017; $41.4 billion in FY 2018; $42.4 billion in FY 2019, and $43.4 billion in FY 2020). The FAST Act funds the five formula programs established through MAP-21 and a sixth newly created program: National Highway Performance Program (NHPP); Surface Transportation Block Grant Program (STBGP, formerly Surface Transportation Program); Highway Safety Improvement Program (HSIP); Congestion Mitigation and Air Quality Improvement Program (CMAQ); Metropolitan Planning Program; and The new National Highway Freight Program (NHFP). Division of total apportioned amount among States The FAST Act requires FHWA to reserve from the total amount authorized for the apportioned programs: 1) An amount to supplement the base apportionment for NHPP for each of FY 2019 and FY ) An amount to supplement the base apportionment for STBGP for each of FY ) The remainder is the base apportionment. FHWA calculates a State s initial apportionment for supplemental NHPP, supplemental STBGP and base apportionment. In FY16, the initial State apportionment is the same apportionment that it received in FY15. Each State s initial amounts are adjusted to ensure that the state receives at least 95% of the dollar amount of its contributions to the Highway Account of the Highway Trust Fund (HTF). Division of a State's apportionment among programs After determining the three amounts for a State (supplemental NHPP, supplemental STBG, and base apportionment), FHWA divides the amounts among the State s individual formula programs in the manner below: 37

48 Appendix 2B Metropolitan Planning [23 U.S.C. 104(b)(5) (D) & (6)] 3 NHPP [23 U.S.C. 104(b)(1)] STBG [23 U.S.C. 104(b)(2)] Funded in an amount equal to the State's base apportionment (net of step #1); plus the State s NHFP funding (under step #1), multiplied by the following ratio: The remainder of the State s base apportionment (net of amounts under steps #1 through #2B) is divided based on the following proportions: State's FY09 Metro Planning $ State's total FY09 apportionments 63.7% to NHPP 29.3% to STBG 7.0% to HSIP 4A HSIP [23 U.S.C. 104(b)(3)] Railway Highway Crossings set-aside [23 USC 130; 126 of Division L of Pub. L ] and then the NHPP and STBG amounts are increased by the supplemental NHPP and STBG amounts calculated above. Funded with an amount set aside from the States initial HSIP amounts prior to apportionment based on apportionment formula under 23 U.S.C. 130; and such that the national total for the program is as follows: FY $ millions B Safety-related activities setaside 2 [ 1519(a) of Pub. L , as amended by the FAST Act] Funded via set-aside from the States initial HSIP amounts prior to apportionment determined proportionally based on the initial HSIP amounts; and such that the national total is $3.5 million each fiscal year. 1 The FAST Act set aside $225M for FY2016; the FY 2016 Appropriations Act increased this set-aside to $350M. 2 Set-aside amount is not provided to States as apportionments, but instead funds an allocated program for safety-related activities and clearinghouses. Therefore, the FHWA does not include it in the tables in its apportionment notice. 38

49 Appendix APPORTIONMENT FORMULAS - FEDERAL TRANSIT PROGRAM Fixing America s Surface Transportation Act was signed into law (P.L ) December 4, 2015 PROGRAM FACTORS WEIGHT STATUTE (Title 49 U.S. Code) Enhanced Mobility of Seniors and Individuals with Disabilities Formula Grants - Funds are apportioned for urbanized and rural areas based on the number of seniors and individuals with disabilities according to the latest available U.S. Census data. - Also adopts former New Freedom funding allocations: 100% 5310 FAST Section 3006(b) To designated recipients in urbanized areas 60% Rural Areas Formula Grants Urbanized Area Formula Grants Metropolitan and Statewide Planning Programs State of Good Repair Formula Grants Bus and Bus Facilities Formula Grants Illustrative State Safety Oversight Formula Grants Public Transportation Innovation (Research) with a population over 200,000. To states for small urbanized areas. To states for rural areas. - State s land area/population in rural areas. - State s land area/revenue vehicle miles/ lowincome individuals in rural areas with populations less than 50, Population areas of 50, ,999: based on population and population density, number of lowincome individuals, and levels of transit service. - Population areas of 200,000 or more: based on bus revenue vehicle miles, bus passenger miles, fixed guideway revenue miles and fixed guideway route miles along with population and population density. Provides funding and procedural requirements for multimodal transportation planning in metropolitan areas and states that is cooperative, continuous and comprehensive, resulting in long-range plans and short-range programs of transportation investment priorities. Fixed Guideway: 50% based on old SAFETEA-LU formula for Fixed Guideway Rail Modernization Program, and 50% based on high intensity fixed guideway funds for revenue vehicle miles and directional route miles reported to NTD. Motorbus: Based on revenue vehicle miles and directional route miles of buses reported to NTD. - Fixed amount for each state ($1.75M) - Remaining amount based on population and service factors using the Section 5307 Urbanized Area Formula Program apportionment. Base Tier: Fixed amount provided per eligible state. Oversight Modal Tier: Fixed amount per rail mode per each Rail Fixed Guideway Public Transportation System. Service Tier: Based on vehicle passenger miles, vehicle revenue miles and directional route miles. FAST authorized $20M from the General Fund, through discretionary fund applications selected for the purpose of advancing innovative public transportation research and development. 20% 20% 83.15% 16.85% 5311 FAST Section % 5307, 5340 FAST Section 3004, % 5303, 5304 FAST Section Planning Programs 97.15% 2.85% 100% 20% 20% 60% 5337 FAST Section , 5339(b) FAST Section (e) FAST Section 3013, 3020, 3021, % 5312 FAST Section

50 Appendix MAINTENANCE RESPONSIBILTY GUIDELINES 40

51 Appendix BRIDGE MAINTENANCE RESPONSIBILITY GUIDELINES 41

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53 Appendix Contracts Awarded by State Fiscal Year Definitions Pavement - All Projects relating to resurfacing any road for which ODOT is responsible. These include interstate highways and state highways under ODOT s umbrella of responsibility. Bridges/Culverts - All projects where the majority of the work on that project is for repairing, rebuilding, or building new bridges and/or culverts. Major / New Construction - Projects that have gone before the Transportation Review Advisory Council (TRAC) and have been approved. These are large projects such as building a new bypass, constructing a new interchange, or rebuilding an existing road from the ground up. Local Government - Projects on highways (mostly interstates) that run through municipalities, of which the municipalities have a share in maintaining. This is not to be confused with Local Let Projects (non-traditional) where ODOT only provides the funds (mostly federal) to local political divisions for them to award. Design / Build - These are projects that are awarded to one company to do all of the preliminary engineering and design work as well as perform the construction portion of the project. 42

54 Appendix CONTRACTS AWARDED FY 2017 (Amounts expressed in millions) WORK TYPE DISTRICT 1 DISTRICT 2 DISTRICT 3 DISTRICT 4 DISTRICT 5 DISTRICT 6 PAVEMENT $25.44 $59.81 $61.10 $88.42 $62.22 $ LANE (miles) GREATER THAN 2-LANES (miles) INTERSTATE (lane miles) MILEAGE BRIDGES $12.39 $13.46 $25.04 $13.24 $21.33 $24.13 TOTAL STRUCTURES CULVERTS $2.91 $0.00 $2.18 $0.43 $0.71 $1.50 MAJOR NEW / MAJOR REHAB $ $1.65 $0.00 $11.24 $0.00 $ LOCAL GOVERNMENT PROJECTS $0.43 $0.12 $0.00 $1.26 $1.94 $0.19 LOCAL GOV'T - LOCAL LET $8.06 $24.95 $32.05 $35.68 $3.11 $67.46 SAFETY UP-GRADING $0.88 $9.78 $2.29 $10.01 $3.67 $12.60 GUARDRAILS $0.00 $0.00 $0.00 $0.00 $0.00 $0.79 HERBICIDAL SPRAY $0.14 $0.00 $0.00 $0.00 $0.00 $0.00 MOWING $0.00 $0.00 $1.48 $0.00 $0.00 $0.82 NOISE BARRIERS/ WALLS $0.00 $0.87 $0.00 $0.64 $0.00 $0.85 RAISED PAVEMENT MARKINGS $1.53 $2.18 $1.77 $2.86 $1.56 $3.09 RAIL $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 REST AREAS $0.00 $2.05 $0.00 $0.00 $0.00 $0.00 STATE PARKS (Metro, ODNR) $0.00 $0.00 $0.00 $0.06 $0.00 $0.00 EMERGENCIES $0.49 $1.46 $1.10 $1.27 $0.00 $2.86 MISCELLANEOUS (1) $3.09 $1.58 $21.97 $2.15 $6.33 $6.88 HIGHWAY RELATED TOTAL $ $ $ $ $ $ TRANSIT (2) $6.69 $29.01 $19.99 $4.88 $47.27 $10.02 AVIATION $0.00 $0.01 $0.00 $0.68 $0.28 $1.46 MODAL TOTAL $6.69 $29.02 $19.99 $5.55 $47.55 $11.48 GRAND TOTAL $ $ $ $ $ $ The Highway Information furnished in this report is from the award sheets issued by the Office of Contracts and Ellis and the dollars reflected are Construction only and do not include PE or RW costs. Modal information was provided by Transit and Aviation. (1) These projects consist of bridge/highway cleaning, crack-sealing, pavement repair, railroad separation, salt domes, slide / slip correction / stabilization / facilities projects, tree removal, spot improvement, etc. (2) These totals include all transit program contract amounts. 43

55 Appendix CONTRACTS AWARDED FY 2017 (Amounts expressed in millions) WORK TYPE DISTRICT 7 DISTRICT 8 DISTRICT 9 DISTRICT 10 DISTRICT 11 DISTRICT 12 TOTAL PAVEMENT: $51.18 $87.40 $22.54 $43.47 $27.28 $39.00 $ LANE (miles) , GREATER THAN 2-LANES (miles) INTERSTATE (lane miles) , MILEAGE , BRIDGES $26.01 $37.44 $19.43 $10.47 $25.34 $81.40 $ TOTAL STRUCTURES CULVERTS $2.03 $2.51 $4.81 $5.54 $1.44 $1.95 $25.99 MAJOR NEW / MAJOR REHAB $0.00 $96.75 $0.87 $0.00 $10.33 $0.00 $ LOCAL GOVERNMENT PROJECTS $1.08 $3.59 $0.10 $1.02 $1.02 $0.00 $10.75 LOCAL GOV'T - LOCAL LET $29.08 $55.70 $1.92 $2.40 $8.56 $59.71 $ SAFETY UP-GRADING $9.24 $9.36 $3.27 $5.13 $5.14 $10.98 $82.36 GUARDRAILS $0.40 $0.00 $1.38 $1.59 $0.00 $1.25 $5.41 HERBICIDAL SPRAY $0.22 $0.00 $0.09 $0.13 $0.20 $0.00 $0.78 MOWING $0.00 $1.22 $0.94 $0.00 $0.00 $0.00 $4.46 NOISE BARRIERS/ WALLS $0.00 $1.35 $0.00 $0.00 $0.00 $8.98 $12.68 RAISED PAVEMENT MARKINGS $2.50 $2.87 $2.08 $2.04 $1.97 $1.94 $26.39 RAIL $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 REST AREAS $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $2.05 STATE PARKS (Metro, ODNR) $0.33 $0.00 $0.00 $0.00 $0.00 $0.00 $0.39 EMERGENCIES $0.00 $2.45 $6.16 $4.42 $7.31 $0.00 $27.54 MISCELLANEOUS (1) $3.40 $8.24 $2.71 $9.18 $1.34 $1.59 $68.47 HIGHWAY RELATED TOTAL $ $ $66.30 $85.38 $89.93 $ $1, TRANSIT (2) $22.21 $5.57 $20.81 $30.03 $19.12 $10.17 $ AVIATION $0.41 $0.10 $0.00 $0.00 $0.00 $0.05 $2.98 MODAL TOTAL $22.62 $5.67 $20.81 $30.03 $19.12 $10.22 $ GRAND TOTAL $ $ $87.12 $ $ $ $2, The Highway Information furnished in this report is from the award sheets issued by the Office of Contracts and Ellis and the dollars reflected are Construction only and do not include PE or RW costs. Modal information was provided by Transit and Aviation. (1) These projects consist of bridge/highway cleaning, crack-sealing, pavement repair, railroad separation, salt domes, slide / slip correction / stabilization / facilities projects, tree removal, spot improvement, etc. (2) These totals include all transit program contract amounts. 44

56 Appendix 45

57 Appendix 46

58 Appendix 47