Funding Review
It is critical to understand the financial limitations of the study area early in the planning process before the development and assessment of transportation projects. The funding review provides a snapshot of existing revenue and expenditures as well as a preliminary estimate of future funding available to implement projects included in the TSP. The preliminary financial review should take place before assessing future transportation system needs and developing solutions to address those needs. The funding review can then be the foundation for a jurisdiction’s Capital Improvement Program.
Funding Review for Metropolitan Areas
For cities and counties in metropolitan areas and Metro, OAR 660-012-0115 requires specific funding projections for the funding review.
Shall
The funding review
shall include:
- The identification of all funding sources that the city or county expects to use over the planning period to operate, maintain, or construct the transportation system. These sources include, but are not limited to:
- Local, regional, state, and federal funding sources; and
- Sources expected from any transportation facility or service operator within the planning area, such as transit providers.
- For each funding source identified, the following will be documented:
- The expected funding over the remainder of the planning period;
- The purpose of the source of funding and any key limitations on the use of the funding; and
- Reasons that the funding source is expected to be available during the planning period. These reasons may include, but are not limited to, that the funding is provided by:
- Transportation facility pricing revenues, including parking revenues;
- Tax or bond revenues;
- Fees, charges, or other local revenues;
- Grants given using a formula or other regular disbursement;
- Regional funds from a Metropolitan Planning Organization; or
- A source that previously provided funds to the city or county and can reasonably expected to provide more in the future.
- The city or county shall use the list of funding sources to determine the amount of funding expected to be available to develop transportation projects over the planning period. Funding to maintain and operate the transportation system or used for purposes other than development of transportation projects, shall be excluded. The transportation system plan shall clearly describe the amounts that are included and excluded.
Funding Review for Non-Metropolitan Areas
For cities and counties outside of metropolitan areas and Metro, the funding review will include the following:
Shall
The funding review
shall include:
- The identification of current and historical (most recent 5-10 year period) revenue sources that have funded the maintenance and improvement of the transportation system within the study area. These sources will vary by jurisdiction, but will likely include:
- Oregon highway revenue apportionment
- State gas tax revenue share
- Surface Transportation Block Grant (if applicable)
- Transportation System Development Charges (if applicable) and/or development applications
- General Fund revenues
- Miscellaneous revenues (interest, city fees, etc.)
- Grant income
- The identification of historical expenditures that have supported the transportation system within the study area. These expenditures will vary by jurisdiction, but can likely be broken down into one or more of the following categories:
- Maintenance of the transportation network
- Capital improvements
- Personnel services
- Debt services
- Preparation of planning period funding and expenditure forecasts. For many smaller jurisdictions, the projection of revenue and expenditure information using historical trends is the most common and readily available method. Caution should be used as this method assumes historical trends will continue in the future, which is not always the case.