Road Funds Quarterly Report

By ROLAND W. BURRIS
Comptroller, State of Illinois

The available balance in the Road Funds (Road and State Construction Account Fund) was $309 million at the end of September 1987, $68 million more than the balance of $241 million at the end of September 1986, $19 million more than the balance of $290 million at the end of June 1987, and the highest end of September balance in the history of the Road Funds (the previous high was the $241 million at the end of September last year).

Total Road Funds revenues in the first quarter of fiscal 1988 were $436 million, $63 million or 12.6% less than comparable revenues received in three months of fiscal 1987. Revenues from state sources were up $7 million (2.3%) while revenues from federal sources were down $70 million or 35.7% (due in part to decreased spending for highway construction).

Total expenditures from the Road Funds in three

ROAD FUNDS TRANSACTIONS (millions)
	Three Months		Change
	FY 1987	FY 1988	Amount	Percent
Available Balance
Beginning .......................................	$218	$290	$+72
REVENUES:
State Sources:
Cash Receipts:
Road Fund ....................................	$140	$152	$+12
State Construction
Account Fund ...............................	61	56	- 5
Total, Cash Receipts .......................	$201	$208	$ + 7	+ 3.5%
Transfers In:
From Motor Fuel Tax Fund:
Road Fund ....................................	$ 38	$ 37	$- 1
State Construction
Account Fund ...............................	64	65	+ 1
Total, Transfers In .........................	$102	$102	$. . .
Total, State Sources ........................	$303	$310	$+ 7	+ 2.3%
Federal Aid ...............................	109	126	-70	-35.7%
TOTAL, REVENUES .....................	$499	$436	$-63	-12.6%
EXPENDITURES:
Warrants Issued:
Highway Construction:
Road Fund ....................................	$146	$ 73	$-73
State Construction
Account Fund ...............................	132	130	- 2
Total, Highway
Construction ............................	$278	$203	$-75	-27.0%
Road Fund:
Operations ..................................	149	166	+17	+11.4
Awards and Grants ..........................	12	10	-2	-16.7
Other ........................................	2	2
Total, Warrants Issued .....................	$441	$381	$-60	-13.6%
Transfers Out:
Road Fund:
Debt Service Fund ...........................	35	36	+1	+2.9
TOTAL, EXPENDITURES ........................	$476	$417	$-59	-12.4%
Available Balance Ending ...........................	$241	$309	$+68

The month end available balance in the Road Funds has been at a record level for twelve consecutive months (establishing a new high for the end of each month).

November 1987 / Illinois Municipal Review / Page 25

months of fiscal 1988 were $417 million, $59 million or 12.4% less than comparable spending in the first quarter of fiscal 1987. Spending for highway construction decreased by $75 million ($73 million from the Road Fund and $2 million from the State Construction Account Fund), awards and grants spending down $2 million, while operations spending increased by $17 million (11.4%) and transfers out for debt service increased by $1 million.

At the end of September 1987, the Comptroller's records reflect total Road Funds appropriations of $2.313 billion for fiscal 1988 — $138 million less than total appropriations of $2.451 billion for fiscal 1987. In addition to these appropriations from the Road Funds, there are appropriations of $194 million ($196 million in fiscal 1987) from the Transportation Bond Series A Fund and $175 million ($114 million in fiscal 1987) from the Build Illinois Bond Fund for highway/waterway construction purposes.

			ROAD FUNDS
		Available Balances — End of Month
				(millions)
Month	1978	1979	1980	1981	1982	1983	1984	1985	1986	1987	1988
July .................	$130	$125	$48	$81	$28	$109	$103	$208	$189	$310	$348
August ..............	120	119	46	63	31	72	144	170	176	269	326
September ...........	110	103	19	42	50	78	121	140	142	241	309
October .............	114	127	35	22	40	64	87	114	127	219
November ...........	102	81	28	29	24	38	86	106	97	198
December ...........	90	55	34	25	49	43	66	99	137	207
January ..............	110	76	47	7	60	51	81	117	141	226
February ............	139	71	36	4	44	55	85	118	167	234
March ...............	136	96	39	4	52	62	102	126	194	264
April ................	134	82	36	2	50	61	113	128	224	279
May .................	122	55	20	11	48	57	115	123	219	288
June .................	115	52	27	4	63	70	135	119	218	290

Page 26 / Illinois Municipal Review / November 1987