Get Full Government Meeting Transcripts, Videos, & Alerts Forever!
Get email alerts on the Fund Estimate topic
No spam. Unsubscribe anytime.
Final fund estimate shows $3.4B STIP capacity, $11.4B SHOPP target over five years; bond allocations nearing completion
Summary
Caltrans presented the final 2014 fund estimate: STIP capacity of about $3.4 billion over the five‑year period and SHOPP target of about $11.4 billion; bond program allocations are winding down and a potential $120 million of administrative set‑aside for Prop 1B could be freed for projects pending budget authority.
Caltrans staff presented the final 2014 fund estimate and allocation capacity for the 2013–14 STIP cycle.
Lede: The department reported roughly $3.4 billion of STIP capacity over the five‑year fund estimate period and about $11.4 billion of SHOPP (state highway operation and protection program) target capacity. Bond program allocations are near exhaustion and staff identified up to $120 million in administrative set‑aside from Proposition 1B that may be reallocated to projects pending budget authority.
Key points - Allocation capacity: Caltrans presented allocation capacity by program — SHOPP (about $11.4 billion across five years), STIP (about $3.4 billion), Traffic Congestion Relief Program and Proposition 1B figures. Bonds remain but are nearing exhaustion with roughly $800 million unallocated across bond programs.
- Advanced construction (AC): To cover potential shortfalls and allow committed STIP projects to proceed, staff described using federal advanced construction authority to maintain project delivery without exceeding annual obligation authority.
- Public Transportation Account (PTA): A two‑year cash forecast shows PTA balances drawing down over two years due to prior project spending, with a loan repayment expected to stabilize the account in later years.
- Administrative set‑aside: Caltrans reviewed a conservative 2% administrative set‑aside for Prop 1B and reported preliminary analysis indicating up to $120 million could be made available for projects if budget authority allows; one small program (local bridge seismic retrofit) requires the full 3% because of high administrative workload.
Ending The commission adopted the fund estimate at the meeting and Caltrans said it will publish the fund estimate book (with assumptions and narrative) within 30 days.
