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TPO reports $178.6M in FY2024 obligations, LSTBG anomaly tied to swaps with TDOT
Summary
The Knoxville Regional TPO reviewed its Annual Listing of Obligated Projects for fiscal year 2024, reporting $178.6 million in obligations—significantly higher than the $124.5 million programmed—driven by a large local STBG obligation and TDOT swaps.
The Knoxville Regional Transportation Planning Organization Technical Committee on Jan. 14 reviewed the Annual Listing of Obligated Projects for fiscal year 2024 and heard that obligations totaled about $178.6 million across 53 projects and project groupings, exceeding the $124.5 million programmed for the year.
The variation matters because obligations represent funds actually obligated and available to move projects into construction or advanced phases; obligations can therefore differ from what was programmed in a particular TIP year due to prior‑year projects obligating late or funding swaps.
Craig Conger, TPO staff, told the committee that the green line (obligations) on staff’s chart exceeded the blue line (programmed amounts) for the first time in a decade, in part because TDOT obligated large projects and because the region used a funding swap arrangement. Conger said TDOT accounted for roughly $86.7 million (48.5 percent) of the obligations; locally managed STBG obligations totaled about $65.3 million. Other leading funding sources included Federal Highway obligations at about $167 million and FTA obligations near $11.5 million in calendar year terms.
By project type, state routes accounted for roughly 53% of obligations (about $94 million), followed by interstate projects at $34 million and local routes at $18.8 million. Notable obligations that closed in FY2024 included a major NHS preservation and operations grouping ($50.9 million), relocated Alcoa Highway near the airport ($28.4 million), funding flexed to purchase electric buses (~$7.2 million), South Waterfront roadway construction (~$6.8 million), Carpenter’s Grade Road construction (~$6.0 million), Maryville construction (~$6.0 million), and a $5.0 million obligation for Washington Pike.
Conger and the committee noted that some unusual funding sources (HIP special allocations) and the LSTBG swap arrangement produced the atypical totals for the year. He also presented rollover balances: for example, LSTBG rolled forward roughly $54 million and allocations and programmed totals were summarized for TAP and Carbon Reduction programs; staff said detailed tables and supporting spreadsheets are available on the TPO website.
Committee members thanked Conger for the federally required report and general transparency; no formal action was taken on the obligated listing at the meeting.
