Monday, March 21, 2011

Current Transportation Financing

Providing transportation facilities and programs requires public funding. Job and population growth increases the demand for travel and will require additional investment to meet travel increases while maintaining the quality of life of the community

How does the city currently finance transportation?

Transportation finance for the city is provided through two sources, the Transportation Fund and the Transportation Excise Tax Fund. Revenue sources for the Transportation Fund include the 0.006 local city sales tax dedicated for transportation purposes, federal funds, Highway Users Tax, County Road and Bridge funds and State Highway Maintenance Funds. The Transportation Development Excise Tax Fund is supported by a transportation related excise tax, levied against new construction for development related infrastructure needs. Of these sources of revenue, the primary contributions are from the city transportation sales tax (59%), federal funds (15%), Highway Users Tax (11%), and Transportation Excise Tax (4%).

While the city has an annual budget for it's funding of transportation, city spending on transportation is only a portion of all the spending that occurs to support transportation. The Regional Transit District (RTD) and Colorado Department of Transportation (CDOT) both make significant investments in the regional and local transportation system. As part of understanding the current funding of transportation, all the funding for transportation was collected, including that from RTD and CDOT, and is presented under “summary of total revenues (see link below). This total revenues and spending on transportation can be compared to the revenue sources and spending by the City of Boulder itself, provided in the “summary of revenues” for Boulder (see link below). As both regional and city funding of transportation are highly dependent on sales tax revenue, the recent declines in local and regional sales tax collection has a significant affect on transportation investment in Boulder.

    * Summary of total revenues generated and total expenditures made on transportation services and improvements in Boulder in 2002. (see Revenue-Expenditures)
    * More detailed summary of transportation funding sources in Boulder in 2002. ( Transportation Finance Matrix)

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