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
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Financing Process
The Transportation Trust Fund Authority (TTFA) raises cash to reimburse
the New Jersey Department of Transportation (NJDOT) and NJ TRANSIT for Transportation Trust Fund capital project
expenditures previously authorized by the Legislature in the
annual Appropriations Act. The flow
of funds encompasses the receipt of appropriation revenues
from the State, payment for debt service obligations and combining
the remaining appropriation revenues with bond proceeds to meet
the cash flow need of the Transportation Trust Fund program.
Currently, Appropriation
revenues include all or portions of taxes applied on motor
fuels, petroleum
product gross receipts and vehicle
sales, which are all constitutionally dedicated to the TTFA.
The Legislature has also statutorily dedicated the proceeds
of the "Good
Driver" motor vehicle registration surcharge, heavy
truck registration fees, and contributions from the two
highway toll
road authorities. The Authority issues "state contract"
bonds
with maturities up to 31 years within the bonding cap established by the Legislature.
Audited financial
statements are published each year by an external auditing
firm which summarizes the Authority's revenue, bonding and expenditure
results for the preceding 12 month period. |
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