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RTC CFO reports fuel tax revenues flat and diesel tax receipts starting in 2023
Summary
RTC CFO Mary Kane presented the Regional Street and Highway Fund quarterly financial report, noting relatively flat fuel tax receipts over recent fiscal years and that diesel fuel tax receipts began in 2023; commissioners approved the report by voice vote.
Mary Kane, introduced as the RTC’s new chief financial officer, presented the quarterly financial report covering balance sheet, accounts payable, revenue streams and monthly diesel and motor‑vehicle tax receipts dating back to fiscal year 2020.
Kane walked the commission through the income statement and noted that some revenues received in the current fiscal year are not available for spending until the next fiscal year. Commissioners highlighted page 5, which showed a long‑term flat trend for the gas tax that supports road functions; the chair observed operating costs for materials and services have risen while gas‑tax revenue remained essentially flat.
Kane said the jurisdiction began collecting the optional diesel fuel tax in 2023; diesel receipts show modest gains but state projections do not anticipate significant increases through FY2027. After questions, a commissioner moved to approve the quarterly financial report as presented; the commission voted aye and the motion carried.
The report also included a per‑entity page showing starting balances on July 1, current apportionments based on prior year receipts, year‑to‑date expenditures and ending available balances as of March 30.
