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CVTA staff reports tax revenue milestone, previews bond‑issuance planning
Summary
CVTA staff told the finance committee the working capital reserve will be fully funded by next month and that regional tax receipts will top $1 billion by June. Staff also outlined responsibilities for TAC and a finance directors working group as the authority explores bond issuance and next regional funding rounds.
Central Virginia Transportation Authority staff reported May 14 that the working capital reserve is on track to be fully funded by the June meeting and that regionwide tax receipts will surpass $1 billion by that time.
Mister Parsons, CVTA staff, highlighted those milestones while presenting the tax collections and allocation report and said the finance team and fiscal agent are…
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