njhome    |    citizen    |    business    |    government    |    services A to Z    |    departments   
New Jersey Transportation Trust Fund Authority  
      
Overview

About TTFA
Members
Meetings
Legislation

Business Partners
Financial Advisors
Underwriters
Trustees
Bond Counsel
Printing Services
External Auditor

Frequently Asked
Questions


Financing Process
Flow of Funds
Appropriation Revenues
Bonds
Audited Financial Statements

Future Financing
Next Bond Sale
Annual Financial Plan
Long-Term Financing Capacity

GARVEE Bonds

NJDOT/NJ TRANSIT
Capital Program



The Transportation Trust Fund provides funding for New Jersey's transportation system

Overview

The New Jersey Transportation Trust Fund Authority (TTFA) is an independent agency of New Jersey state government whose stated mission is to finance the cost of “planning, acquisition, engineering, construction, reconstruction, repair, resurfacing, and rehabilitation of the state’s transportation system.”

The Authority consists of seven members, two ex-officio and five public members appointed by the Governor. Board meetings are scheduled on an as needed basis and notices of the meetings are published in the newspapers and on this Web site. The meetings are conducted at New Jersey Department of Transportation (NJDOT) Headquarters in Ewing, NJ and are open to the public.

Quick Facts (Updated 6-30-13)
Current State Contract Outstanding Bonds

$14.4 billion

Current State Contract Debt Service Outstanding $28.4 billion
Max. Bond Maturity 31 years
Appropriated Revenue $970.9 million
Current State Contract Debt Service $877.3 million

Current NJ Transit EDA Debt Service

$93.6 million
  Total TTFA/NJT Debt service $970.9 million
Current Statutory Bond Cap Available $326.3 million
Current Credit Ratings S&P A-
Moody's A2
Fitch A-
State Gasoline Tax 10.5 cents
State Diesel Tax 13.5 cents
Motor Fuel Tax Dedicated for Transportation 10.5 cents=$535M
Motor Fuel Tax Appropriated to TTFA $520.0 Million

*FY 13 Appropriation Act appropriated $1,094.5 million. The lower amount shown on the chart reflects a mid-year lapse to the general fund.


The Authority’s financing process is directed at issuing sufficient bonds to reimburse NJDOT/NJ TRANSIT Capital Program expenditures previously requested and authorized by the Legislature.

The level of bonding needed is based on the Authority's appropriation revenues and current debt schedule. Audited financial statements are prepared each year summarizing the Authority’s financing activity and current financial position.

The Authority was created in 1984 by legislation that has been amended several times. The current Transportation Trust Fund Statute (NJSA 27:1B-21.2) and dedication of revenues found in the State Constitution serve as the blueprint for all Authority actions.

 
Open Public Records Act privacy notice | legal statement 
contact ttfa | accessibility statement 
njhome