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AOT outlines $61.5 million FY26 funding gap; proposes highway cuts, use of cash‑fund match
Summary
At a Feb. 26 House Transportation Committee hearing, Agency of Transportation officials said they started the FY26 budget process with $61.5 million in known pressures and outlined a mix of one‑time funds, proposed project delays and operational cuts to balance the year.
Candace Elmquist, chief financial officer for the Vermont Agency of Transportation, told the House Transportation Committee on Feb. 26 that the agency began the FY26 budget process facing a $46,000,000 one‑time revenue hole and other known pressures totaling about $61,500,000.
The shortfall, Elmquist said, has been addressed through a mix of revenue and reductions: $10.3 million from the revenue forecast, $20.25 million from the JTAC/JTOC appropriation historically allocated to public safety, a $12,500,000 reserve from a state cash fund earmarked as state match for projects funded via the Infrastructure Investment and Jobs Act (IIJA), $14,000,000 in proposed budget reductions (largely highway projects) and an additional $4,500,000 the agency said it is committed to finding by July.
"On this slide, I was talking about a $46,000,000 1 time revenue hole that we had when we started the FY 26…
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