Road Fund Balance at Highest Mid-Year Level In History

Comptroller Roland W. Burris reported recently the balance in the state's Road Funds was $137 million at the end of December, the highest mid-year balance in the history of the Funds. The six month revenue total was $38 million higher than the balance of $99 million one year ago, which at the time was also a record.

Total Road Funds revenues in the first half of fiscal 1986 were $923 million, $87 million or 10.4 percent higher than comparable revenues for the same period one year ago. Revenues from state sources increased by $33 million or 6.7 percent, while revenues from federal sources increased by $54 million or 15.7 percent.

Total Road Funds expenditures in the first six months of fiscal 1986 were $905 million, an increase of $33 million or 3.8 percent over comparable spending for the six months of fiscal 1985. Operations spending increased by $22 million or 9.3 percent, transfers out for debt service increased $4 million, highway construction increased $2 million, while all other warrants issued increased $5 million.

The available balance of $137 million in the Road Funds at the end of December, coupled with strong revenue and expenditure levels during the six-month period, indicate a sound fiscal condition through the end of FY 1986. And based upon this position, the General Assembly may wish to reconsider whether additional funding for highway purposes from the new Build Illinois bonds may be necessary. •

Page 20 / Illinois Municipal Review / Febuary 1986