Under Virginia’s transportation funding allocation structure, funds for highway construction are those that exist after all other obligations are met (debt service, maintenance, rail & public transportation, administration, transfers other agencies, and the port and airport trust funds).
And with changes made during the recent General Assembly session diverting more money to maintenance for state of good repair efforts and to transit, even fewer dollars remain for highway construction. And the six-year trend is downward.
The latest projections for the FY2016 to FY2021 Six-Year Improvement Program show $1.7 billion for statewide construction funds in FY2016, followed by a decline of over 36% ($612 million) to $1.1 billion in FY2021, a cumulative loss in potential state highway construction funds of over $2,000,000,000 (that’s billion with a B).
Preliminary Construction* Allocations* FY2016-2021
FY 16 1,695.8
FY 17 1,409.1
* Allocations do not reflect SYIP funding for highways that may be programmed for rail and public transportation.
Click here to review a presentation on the state’s six year financial outlook.
Fewer State Highway Construction Dollars
Another Reason Why the Regional Authority
Must Invest Our Regional Funds Wisely