B
Financial Plan Documentation
Appendix B: Financial Plan Documentation
Introduction
Transportation funding has undergone significant transformation from
relying on federal and state funds, to increased dependence on local
funds over the past 25 years. In general, federal and state formula
funding programs are not increasing as fast as the inflationary
increases in construction, operating, and maintenance costs and the
increases in demand for new facilities. Given this trend, the region has
utilized various financing options to implement regionally significant
projects.
Revenue Sources
State and federal planning regulations require the development of
a Revenue Constrained plan. Such a plan is based on current and
reasonably available sources and levels of federal, state, and local
transportation revenue, projected out to the year 2035. Chapter 3,
the Financial Element, identifies major Federal, State, regional, and
local funding sources anticipated being available during the life of the
plan. A full list and description of funding sources is included in this
appendix.
Federal Revenues
On July 6, 2012, President Obama signed into law a new two-year
transportation authorization, entitled Moving Ahead for Progress in the
21st Century (MAP-21). The first highway authorization enacted since
2005, MAP-21 eliminated several funding programs, consolidating
them into a few core sources in an effort to create a streamlined,
performance-based and multimodal program to address the
challenges facing the U.S. transportation system.
Federal revenue sources for the region total just over $1 billion,
14 percent of the region’s total forecast revenue through 2035.
The region qualifies for federal revenue from almost 20 different
programs. However, just two of these programs constitute close to 50
percent of all federal revenue: the Regional Surface Transportation
Program and the Urbanized Area Formula Program (Section 5307).
The federal revenue sources are detailed below.
Regional Surface Transportation Program
• Total Revenue: $223.5M
• Assumption: RSTP apportionment forecast summary.
Highway Bridge Program (HBP)
• Total Revenue: $102M
• Assumption: Annual average of awarded project list from FFY
Moving Forward Monterey Bay 2035
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Appendix B: Financial Plan Documentation
12 to FYY 13.
Highway Safety Improvement Program
(HSIP)
• Total Revenue: $22.8M
• Assumption: Annual average of the HSIP
funds received during the last 5-year period.
FEMA/CALEMA/ER - Emergency Road
Repair Funding
• Total Revenue: $61.6M
• Assumption: Average received in recent
years for emergency repairs on local roads
Transportation Alternatives Program
• Total Revenue: $6.7M
• Assumption: Based on SB 99/AB 101
(2013), regions projected share based on
STIP formulas.
Earmarks
• Total Revenue: $3.5M
Assumption: Reflects funds previously
approved for specific project. No new
earmarks assumed.
Metropolitan Planning (FTA 5303)
• Total Revenue: $.23M
• Assumption: Population based formula
funds.
FTA 5304
• Total Revenue: $2.4M
• Assumption: Annual average of transit
planning funds received during the last five
years.
Urbanized Area Formula Program (FTA
5307)
• Total Revenue: $252.5M
• Assumption: Population based transit
formula funds for urbanized areas.
Moving Forward Monterey Bay 2035
Fixed Guideway Capital Investments
Grants (FTA 5309)
• Total Revenue: $54.0M
• Assumption: New Starts funding totaling $75
million each for TAMC commuter rail project
and Monterey Branch Line project.
Enhanced Mobility of Seniors &
Individuals with Disabilities (FTA 5310)
• Total Revenue: $7.0M
• Assumption: Population based formula
funds.
Rural Area Formula Grants (FTA 5311)
• Total Revenue: $16.8M
• Assumption: Population based transit
formula funds for nonurbanized areas.
Intercity Bus (FTA 5311F)
• Total Revenue: $28.2M
• Assumption: Formula funds for intercity bus.
Safety Authority (FTA 5329)
• Total Revenue: $12.4M
• Assumption: Population based transit
formula funds for transit safety and oversight
programs. New program under MAP-21.
Bus and Bus Facilities Formula Grants (FTA
5339)
• Total Revenue: $44.0M
• Assumption: Population based transit
formula grants for bus and bus facilities.
Very Small Starts
• Total Revenue: $25.0M
• Assumption:
FAA Airport Improvement Program (AIP)
• Total Revenue: $142.8M
• Assumption: Average annual FAA grants
from FYY 06 to FFY 11.
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Appendix B: Financial Plan Documentation
State Revenues
State revenue programs total $1.8 billion, or
24 percent of the region’s total forecast revenue
for the life of the plan. Over 84 percent of this
funding comes from two programs, which include
a combination of funds from the federal and state
highway trust fund accounts (fuel taxes and weight
fees) – SHOPP funding and the State Transportation
Improvement Program (STIP). The state revenue
sources are detailed below.
State Highways Operation and Protection
Program (SHOPP)
• Total Revenue: $1,221.4M
• Assumption: Average annual historical
funding.
State Transportation Improvement
Program
• Total Revenue: $275.4M
• Assumption: Based on statewide estimate
and percent for each county (Regional
Share); Programmed projects plus $10M
average per year (Interregional share).
Proposition 1B – Transportation Bond
Program
• Total Revenue: $36.4M
• Assumption: Includes only currently
programmed funds included. No future bond
funds.
Airport Improvement Program Match
• Total Revenue: $.31M
• Assumption: Average annual of past eight
years for each county.
Active Transportation Program
• Total Revenue: $59.4M
• Assumption: 10 percent rural competitive
portion using RPTA fund formula and
population based for statewide competitive
portion.
Moving Forward Monterey Bay 2035
California Aid to Airports Program
• Total Revenue: $1.13M
• Assumption: $10,000 annually for San
Benito and Santa Cruz counties. $30,000
annually for Monterey County.
Freeway Service Patrol
• Total Revenue: $10.1M
• Assumption: Based on funding received
in FY 12 for Monterey and Santa Cruz
counties.
SAFE
• Total Revenue: $14.7M
• Assumption: Average annual historical
funding.
State Transit Assistance
• Total Revenue: $174.0M
• Assumption: Annual average based on FY
13 estimates.
Regional Revenues
The regional revenue sources are detailed below.
AB 2766
• Total Revenue: $42.8M
• Assumption: Annual average based on FY
13 grants.
Local Revenues
At $4.6 billion, local revenues constitute 62 percent
of all transportation funding for the Monterey Bay
Area in the MTP/SCS. The local revenue sources
are detailed below.
City Transportation Sales Taxes (Capitola
& Santa Cruz)
• Total Revenue: $38.7M
• Assumption: Based on average designated
for transportation projects in annual city
budgets
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Appendix B: Financial Plan Documentation
City/County General Fund
• Total Revenue: $211.2M
• Assumption: Based on local jurisdictions
calculations.
Local Airport Revenues
• Total Revenue: $80.6M
• Assumption: Based on local jurisdictions
budgets.
Miscellaneous Local Revenues
• Total Revenue: $338.4M
calculations.
Tolls
• Total Revenue: $149.0M
• Assumption: Based on local jurisdictions
calculations.
Proposition 42
• Total Revenue: $.45M
• Assumption: Based on local jurisdictions
calculations.
• Assumption: Various.
Transportation Development Act
• Total Revenue: $479.1M
• Assumption: Historical annual average and
county auditor estimates for FY14
Gas Tax (Highway User Tax)
• Total Revenue: $756.7M
• Assumption: Historical annual average.
Transit Fares and Non-Fare Revenue
• Total Revenue: $652.0M
• Assumption: Based on past and project
farebox recovery data from the transit
operators.
Developer Fees
• Total Revenue: $613.6M
• Assumption: Based on local jurisdictions
calculations.
Local Transportation Sales Tax
• Total Revenue: $1,317.7M
• Assumption: Based on FY13 and FY14
revenues.
Lease Revenues
• Total Revenue: $5.5M
• Assumption: Based on local jurisdictions
Moving Forward Monterey Bay 2035
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