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Section 4: Cash Forecasting

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Overview

Funding for projects and programs included in the UTP is provided from five primary sources. In order of magnitude, these are the following:

  • federal aid
  • state appropriations
  • local participation (city and county governments)
  • bond sales (toll roads)
  • private participation (businesses, individuals, organizations, etc.).

Other sources of funding include transportation corporations, road utility districts, county road districts, and the state infrastructure bank.

This section discusses Funding Predictions and the Funding Predictions.

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Funding Predictions

Federal-aid funding is predicted by considering the programs and funding authorized in current federal law and funds appropriated by Congress. Funding beyond the current authorization is estimated using the best available information.

State funding is predicted based on short-term funding projections provided periodically by the State Comptroller’s office. Longer term funding projections are developed using demographic information, travel trends, and predicted fuel consumption.

A computerized cash-flow model is used to predict the availability of funds for the UTP planning horizon. Input includes the predicted federal-aid funding, the predicted state funding, the federal-aid matching requirements, the cost of operating TxDOT, the cost of operating and maintaining the highway system, and current contractual obligations. The model allows researchers to analyze various scenarios of funding options, program funding levels, and letting schedules.

Cash forecasting is a function of the Finance Division.

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Financial Planning Group

The Financial Planning Group (FPG) is composed of the following:

  • Deputy Executive Director
  • Assistant Executive Director for Engineering Operations
  • Assistant Executive Director for Support Operations
  • Director of the Finance Division
  • Director of the Design Division
  • Director of Funds Management (Finance Division)
  • Director of the Transportation Planning and Programming Division
  • Director of Programming and Scheduling (Transportation Planning and Programming Division)
  • Director of the Right of Way Division
  • Director of the Legislative Affairs Office.

This group meets periodically to review the projected revenues, expenditures, program funding levels, and cash flow forecasts associated with various funding strategies and to recommend program levels and the size of the construction program.

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