Missouri Department of Transportation
Financial Snapshot
An appendix to the Citizen’s Guide to Transportation Funding in Missouri
November 2018
Financial
Snapshot
About the Financial Snapshot
The Financial Snapshot provides answers to frequently asked questions regarding MoDOT’s finances. The document also serves as an appendix to the Citizen’s Guide to Transportation Funding in Missouri.
www.modot.org/financial-statements
If you have any questions concerning this report, please contact MoDOT’s Financial Services Division at (573) 526-8106.
MoDOT’s Mission
Our mission is to provide a world-class transportation system that is safe, innovative, reliable and dedicated to a prosperous Missouri.
Financial Snapshot - November 2018
Table of Contents
Transportation Funding
Revenue for Roads and Bridges, Multimodal, Highway Safety - Table 3
MoDOT Revenue for Roads and Bridges, Multimodal, Highway Safety - Table 4
MoDOT Expenditures for Roads and Bridges, Multimodal, Highway Safety - Table 5
Summary of State and Federal Funds 6
Federal Aid Apportionments based on Fixing America’s Surface Transportation (FAST) Act 7
Ratio of Federal Highway Trust Fund Payments Into Fund vs. Apportionments and
Allocations Out of Fund 9
Summary of State Road Bond Financing Program 10
Highway User Fees to Focal Governments by Fiscal Year 1 1
Transportation Facts
Summary of MoDOT’s External and Internal Expenditures 12
Summary of MoDOT’s Expenditures by County 13
Summary of Actual and Projected Construction Awards and Contractor Payments 14
Missouri’s State and Federal Fuel Tax Rates and Fuel Tax History 15
Missouri Vehicle Registrations and Ficensed Drivers Fiscal Year 2018 16
Net Motor Fuel Gallons Taxed 17
Distribution of Highway User Fees Fiscal Year 2018 18
Potential Transportation Revenue Options - Motor Fuel Tax 19
Potential Transportation Revenue Options - Sales Tax 20
Potential Transportation Revenue Options - Motor Vehicle and Driver Ficensing Fees and Alternative Fuel Decal Fees 2 1
Potential Transportation Revenue Options - $100 million, $250 million and $500 million 22
Potential Transportation Revenue Options - $100 million and $250 million 23
Road and Bridge Funding Flowchart 24
Financial Snapshot - November 2018
2
Transportation Funding
Revenue for Roads and Bridges, Multimodal, Highway Safety Fiscal Year 2018 (Dollars in thousands)
Cities &
|
Missouri User Fees and Other Revenue (60.7%) |
State |
Counties |
Total |
% |
|
Motor Vehicle Fuel Tax |
$517,832 |
$188,001 |
$705,833 |
44.6 |
|
Aviation Fuel Tax |
259 |
0 |
259 |
0.0 |
|
Motor Vehicle Sales Tax |
367,111 |
59,290 |
426,401 |
27.0 |
|
Jet Fuel Sales Tax |
6,839 |
0 |
6,839 |
0.4 |
|
Motor Vehicle and Driver’s Licensing Fees |
296,825 |
29,577 |
326,402 |
20.6 |
|
Multimodal and Highway Safety Fees |
2,602 |
0 |
2,602 |
0.2 |
|
Interest and Miscellaneous |
113,708 |
0 |
113,708 |
7.2 |
|
Total Revenue |
$1,305,176 |
$276,868 |
$1,582,044 |
100.0 |
|
Federal Revenue (38.8%) |
State |
Cities & Counties |
Total |
% |
|
Federal Reimbursement |
$879,472 |
$115,788 |
$995,260 |
98.5 |
|
Federal Grants |
15,517 |
0 |
15,517 |
1.5 |
|
Total Revenue |
$894,989 |
$115,788 |
$1,010,777 |
100.0 |
|
Missouri General Revenue (0.5%) |
State |
Cities & Counties |
Total |
% |
|
State General Revenue Fund |
$11,808 |
$0 |
$11,808 |
100.0 |
|
Total Revenue |
$11,808 |
$0 |
$11,808 |
100.0 |
Financial Snapshot - November 2018
3
Transportation Funding
MoDOT Revenue for Roads and Bridges, Multimodal, Highway Safety
(Dollars in thousands)
MoDOT’s funding comes from both state and federal sources. Most of the money is dedicated by federal law or the state constitution and statutes to specific purposes. Included below are the funds available for roads and bridges and other transportation modes.
|
Revenue (Road and Bridge) |
2014 |
2015 |
2016 |
2017 |
2018 |
|
Fuel Tax1 |
$488,800 |
$494,649 |
$511,786 |
$510,950 |
$517,832 |
|
Vehicle/Driver’s Licensing Fees1 |
271,142 |
279,455 |
289,009 |
285,635 |
296,825 |
|
Motor Vehicle Sales Tax1 |
304,365 |
323,105 |
337,965 |
356,552 |
362,237 |
|
Interest and Miscellaneous2 |
123,339 |
102,388 |
116,466 |
75,465 |
110,312 |
|
Federal Reimbursement3’4’5 |
831,066 |
760,239 |
827,843 |
844,194 |
935,017 |
|
Total Revenue |
$2,018,712 $1,959,836 |
$2,083,069 |
$2,072,796 $2,222,223 |
||
|
Revenue (Multimodal) |
2014 |
2015 |
2016 |
2017 |
2018 |
|
Aviation Fuel1 |
$244 |
$247 |
$251 |
$255 |
$259 |
|
Fees1 |
2,067 |
2,353 |
1,758 |
2,171 |
2,327 |
|
Sales Taxes1 |
10,003 |
10,092 |
8,894 |
8,699 |
11,713 |
|
State General Revenue Fund6 |
13,502 |
13,938 |
17,943 |
19,486 |
11,808 |
|
Interest and Miscellaneous2 |
1,572 |
2,745 |
2,707 |
2,000 |
3,380 |
|
Federal Reimbursement3 4 4 |
65,226 |
56,686 |
64,167 |
61,739 |
60,243 |
|
Total Revenue8 |
$92,614 |
$86,061 |
$95,720 |
$94,350 |
$89,730 |
|
Revenue (Highway Safety) |
2014 |
2015 |
2016 |
2017 |
2018 |
|
Fees7 |
$359 |
$328 |
$314 |
$305 |
$275 |
|
Interest and Miscellaneous2 |
20 |
4 |
8 |
7 |
16 |
|
Federal Grants3 |
32,404 |
36,351 |
18,908 |
18,745 |
15,517 |
|
Total Revenue9 |
$32,783 |
$36,683 |
$19,230 |
$19,057 |
$15,808 |
Notes:
1 User fees.
2 Includes interest earned on invested funds, sale of surplus property and excess right of way and construction cost reimbursements from local and other state governments.
3 User fees and transfers from the General Fund and Leaking Underground Storage Tank (L.U.S.T.) Fund.
4 Includes reimbursement for American Recovery and Reinvestment Act (ARRA) projects.
5 Includes federal funds that flow through MoDOT to local governments and agencies.
6 Appropriated by the Missouri General Assembly.
7 Includes motorcycle instruction permit fees and fees collected by the courts from violators of state laws or municipal or county ordinances.
8 Includes the following funds: Multimodal Operations -Federal, State Transportation, Aviation Trust, State Transportation Assistance Revolving, Grade Crossing Safety Account, Railroad Expense, Light Rail Safety and General Revenue.
’includes the following funds: Highway Safety Federal, Motor Carrier Safety Assistance Program-Federal and the Motorcycle Safety Trust Fund.
Source: MoDOT.
Financial Snapshot - November 2018
4
Transportation Funding
MoDOT Expenditures for Roads and Bridges, Multimodal, Highway Safety
(Dollars in thousands)
MoDOT’s largest expenditure category is the construction program. The construction program expenditures include contractor payments, engineering, reimbursement to local entities for acceleration of projects, right of way payments, and federal pass-through to local public agencies. Other State Agencies represents appropriations to the Missouri State Highway Patrol and the Department of Revenue.
|
Expenditures (Road and Bridge) |
2014 |
2015 |
2016 |
2017 |
2018 |
|
Construction Program1 |
$907,269 |
$912,784 |
$818,994 |
$810,814 |
$944,266 |
|
Construction Operating Costs2 |
127,002 |
130,552 |
126,880 |
129,147 |
128,336 |
|
Maintenance2 |
443,939 |
435,085 |
430,236 |
449,262 |
462,987 |
|
Fleet, Facilities & Info. Systems2 |
70,095 |
67,118 |
78,854 |
74,924 |
78,990 |
|
Debt Service3 |
292,930 |
288,009 |
280,237 |
412,523 |
289,617 |
|
Administration2 |
48,405 |
50,718 |
51,564 |
50,732 |
52,101 |
|
Other State Agencies4 |
233,307 |
250,109 |
250,272 |
261,491 |
261,228 |
|
Total Expenditures |
$2,122,947 |
$2,134,375 |
$2,037,037 |
$2,188,893 |
$2,217,525 |
|
Expenditures (Multimodal) |
2014 |
2015 |
2016 |
2017 |
2018 |
|
Operating Costs2 |
$2,341 |
$2,610 |
$2,625 |
$2,707 |
$3,016 |
|
Transit |
29,379 |
36,509 |
34,644 |
30,425 |
34,560 |
|
Rail |
23,430 |
16,485 |
18,726 |
17,304 |
13,314 |
|
Aviation |
30,153 |
27,558 |
35,275 |
38,718 |
37,094 |
|
Port -Waterway |
3,279 |
3,307 |
6,220 |
4,464 |
2,149 |
|
STAR Fund Loan |
0 |
0 |
1 |
301 |
814 |
|
Freight |
850 |
650 |
850 |
1,000 |
956 |
|
Total Expenditures |
$89,432 |
$87,119 |
$98,341 |
$94,919 |
$91,903 |
|
Expenditures (Highway Safety) |
2014 |
2015 |
2016 |
2017 |
2018 |
|
Operating Costs2 |
$514 |
$497 |
$522 |
$521 |
$529 |
|
Safety Programs |
15,541 |
14,980 |
18,465 |
18,532 |
15,466 |
|
Total Expenditures |
$16,055 |
$15,477 |
$18,987 |
$19,053 |
$15,995 |
Notes:
1 Includes contractor payments to construct and design roads and bridges, payments to purchase right of way and federal funds that flow through MoDOT to local governments.
2 Includes personal services and fringe benefits of MoDOT employees and expense & equipment costs.
3 Includes the principal and interest payments for funds borrowed by the Missouri Highways and Transportation Commission (MHTC). In 2017, $1 17.8 million of bonds were paid-off early, saving future interest cost of $29.4 million.
4 Includes appropriated expenditures of the Missouri State Highway Patrol and Missouri Department of Revenue. 2018 includes $3.7 million for the bicentennial license plate reissuance.
Source: MoDOT.
Financial Snapshot - November 2018
5
Transportation Funding
Summary of State and Federal Funds
_ Fund _ Source of Funds _
State Road Fund Federal Highway Administration reimbursements; licenses, permits,
and fees for motor vehicles and drivers; state sales tax on motor vehicles; cost reimbursements; and other miscellaneous fees [Section 226.220 RSMo.]
State Road Bond Fund State sales tax on motor vehicles [Section 226.210 RSMo.]
State Highways and Motor fuel tax and licenses, permits and fees for motor vehicles and
Transportation Department drivers [Section 226.200 RSMo.]
Fund
Aviation Trust Fund
State Transportation Fund
Grade Crossing Safety Account
Railroad Expense Fund
State Transportation Assistance Revolving (STAR) Fund
Motorcycle Safety Trust Fund
Multimodal Operations Federal Fund
Motor Carrier Safety Assistance Federal Fund
Highway Safety Federal Fund
User fees of 9 cents per gallon on aviation gasoline and a portion of the state sales tax collected on jet fuel [Section 155.090 RSMo.]
Two percent of one -half of the state sales tax on motor vehicles [Section 226.225 RSMo.]
Owner of a motor vehicle pays a fee of twenty-five cents each year when the person registers or renews the registration of a motor vehicle [Section 389.612 RSMo.]
Assessments collected from the railroads [Section 622.015 RSMo.]
This fund accounts for loans to any political subdivision of the state or to any public or private not-for-profit organization for the planning, acquisition, development and construction of facilities for air, water, rail or public transportation, the purchase of vehicles for transportation of elderly and disabled persons, or the purchase of rolling stock for transit purposes. Loan repayments are deposited into this fund and are used to make additional loans under the revolving loan program. [Section 226.191 RSMo.]
Motorcycle instruction permit fees and a $ 1 surcharge from all criminal cases including violations of any municipal or county ordinance or any violation of criminal or traffic laws of the state. [Section 302.137 RSMo. & Section 302.140 RSMo.]
Federal grant monies associated with Multimodal programs
Federal grant monies associated with the Motor Carrier Safety Assistance Program
Federal grant monies associated with Highway Safety programs
Financial Snapshot - November 2018
6
Transportation Funding
Federal Aid Apportionments based on Fixing America’s Surface Transportation (FAST) Act (Dollars in millions)
Federal funds are generated by the federal fuel tax - 18.4 cents per gallon for gasoline and 24.4 cents per gallon for diesel. Federal fuel taxes are deposited into the Highway Trust Fund, and apportioned back to states via federal authorization bills. The amount Missouri is apportioned is reduced by the congressionally imposed obligation limitation, which places a ceiling on the amount we can commit to projects. Historically, approximately 99 percent of apportionments are available to obligate. Federal funds are received on a reimbursement basis. MoDOT and local public agencies spend state and local funds to build projects and request reimbursement from the Federal Highway Administration. Apportionments shown below include the amounts that by law are distributed to local public agencies.
2010 2011 2012 2013 2014 2015 2016 2017 2018
Federal Fiscal Year
The following chart lists the amounts apportioned to Missouri in each category under MAP-2 1 and FAST Acts. The FAST Act was signed into law by the President on December 4, 2015 and provides funding for surface transportation programs for federal fiscal years 2016, 2017, 2018, 2019 and 2020 The total apportionments under the FAST Act are significantly more than under the previous federal funding act, MAP-21. However, Section 1438 of the FAST Act rescinds $7.6 billion of unobligated balances on July 1, 2020. Missouri’s estimated share is $200 million.
Financial Snapshot - November 2018
7
|
Apportionment Category |
2014 |
2015 |
2016 |
2017 |
2018 |
|
National Highway Performance (NHPP) |
$539.0 |
$539.2 |
$549.6 |
$558.3 |
$570.1 |
|
Surface Transportation (STP) |
251.0 |
251.6 |
257.2 |
260.1 |
270.1 |
|
Highway Safety Improvement (HSIP) |
54.1 |
54.1 |
51.9 |
55.8 |
57.0 |
|
National Highway Freight (NHFP) |
0.0 |
0.0 |
27.1 |
25.7 |
28.1 |
|
Congestion Mitigation & Air Quality (CMAQ) |
22.6 |
22.6 |
23.0 |
23.3 |
23.9 |
|
Statewide Planning & Research (SPR) |
18.5 |
18.1 |
19.4 |
19.7 |
19.7 |
|
Transportation Alternatives (TAP) |
17.9 |
17.9 |
18.3 |
18.3 |
18.6 |
|
Rail/Highway Crossings |
5.5 |
5.5 |
8.6 |
5.7 |
5.8 |
|
Metropolitan Planning (MP) |
4.9 |
4.9 |
5.2 |
5.2 |
5.4 |
|
Recreational Trails |
1.7 |
1.6 |
1.6 |
1.7 |
1.6 |
|
Total |
$915.2 |
$915.5 |
$961.9 |
$973.8 $1,000.3 |
|
|
Obligation Limitation |
$903.6 |
$907.0 |
$970.1 |
$959.0 |
$990.9 |
Apportionments are subject to Obligation Limitation. Obligation Limitation is a restriction, or “ceiling” on the amount of federal assistance that may be committed during a specified time period. Historically, Missouri’s obligation limitation has averaged 99 percent. So, as an example, with 2018 apportionments of $1,000.3 million, we would be able to commit and spend about $990.9 million on projects.
The apportionment categories under the FAST Act are as follows:
• National Highway Performance is the construction, reconstruction, resurfacing, restoration and rehabilitation of highways and bridges on National Highway System (NHS) routes which are routes designated by Congress as roadways important to the nation’s economy, defense and mobility.
• Surface Transportation is the construction, reconstruction, rehabilitation, resurfacing, restoration and operational improvements of highways and bridges.
• Highway Safety Improvement is for highway safety improvements to eliminate roadway hazards.
• National Highway Freight includes improvements to the National Highway Freight Network (NHFN) that increase the efficiency of freight movement.
• Congestion Mitigation & Air Quality includes traffic management, monitoring and congestion relief strategies to assist areas designated as non-attainment under the Clean Air Act Amendments of 1990.
• Statewide Planning & Research includes transportation planning activities to develop the statewide transportation improvement program. It also includes studies, research and training on engineering standards and construction materials.
• Transportation Alternatives is for the construction of on-road and off-road facilities for pedestrians, bicyclists and other non-motorized forms of transportation and infrastructure- related projects that provide safe routes for non-drivers, including children, older adults and individuals with disabilities to access daily needs.
• Rail/Highway Crossings is for highway safety improvements to mitigate hazards caused by rail-highway grade crossings.
• Metropolitan Planning is for transportation planning activities to develop metropolitan area transportation plans and transportation improvement programs.
• Recreational Trails is for the development, construction, maintenance and rehabilitation of trails and trail facilities.
Source: Prepared by MoDOT based on amounts received under MAP-21 and FAST Acts.
Financial Snapshot - November 2018
8
Transportation Funding
Ratio of Federal Highway Trust Fund Payments Into Fund vs. Apportionments and Allocations Out of Fund (Dollars in thousands)
The chart below shows Missouri has received more funding from the Highway Trust Fund than was contributed in highway taxes into the Fund. For example, in fiscal year 2016, Missouri received $1.14 for every dollar contributed into the Highway Trust Fund.
Ratio of Federal Highway Trust Fund Payments Into the Fund vs. Apportionments and
Allocations Out of the Fund1
|
Surrounding States |
2008 |
2009 |
2010 |
2011 |
2012 |
2013 |
2014 |
2015 |
2016 |
|
Arkansas |
1.42 |
1.58 |
1.52 |
1.42 |
1.21 |
1.29 |
1.23 |
1.15 |
1.23 |
|
Illinois |
1.29 |
1.36 |
1.36 |
1.30 |
1.09 |
1.23 |
1.15 |
1.11 |
1.14 |
|
Iowa |
1.22 |
1.37 |
1.34 |
1.21 |
1.06 |
1.08 |
1.09 |
1.00 |
1.06 |
|
Kansas |
1.28 |
1.31 |
1.37 |
1.17 |
1.02 |
1.10 |
1.03 |
0.98 |
1.03 |
|
Kentucky |
1.26 |
1.41 |
1.38 |
1.24 |
1.07 |
1.35 |
1.12 |
1.06 |
1.12 |
|
Missouri |
1.31 |
1.39 |
1.45 |
1.34 |
1.17 |
1.23 |
1.17 |
1.10 |
1.14 |
|
Nebraska |
1.31 |
1.36 |
1.42 |
1.23 |
1.03 |
1.13 |
1.03 |
0.96 |
1.01 |
|
Oklahoma |
1.37 |
1.41 |
1.42 |
1.28 |
1.08 |
1.15 |
1.07 |
1.00 |
1.10 |
|
Tennessee |
1.23 |
1.29 |
1.35 |
1.26 |
1.02 |
1.14 |
1.06 |
1.00 |
1.03 |
Notes:
1 Payments into the Fund include only the net highway user tax receipts and fines and penalties deposited in the Highway Account of the Federal Highway Trust Fund. Payments do not include transfers from the General Fund and Leaking Underground Storage Tank (L.U.S.T.) Fund totaling $1 14.8 billion from 2008 to 2016. Apportionments and allocations out of the fund includes all funds apportioned or allocated from the Highway Trust Fund except where FHWA does not directly allocate the funds to the states, e.g. portions of Indian Reservation Roads and safety programs.
Source: Federal Highway Statistics Series 2016.
Financial Snapshot - November 2018
9
Transportation Funding
Summary of State Road Bond Financing Program (Dollars in millions)
Bond financing allowed MoDOT to provide much needed infrastructure improvements to the traveling public sooner than traditional funding allowed. Building projects sooner results in cost savings by reducing project inflation costs, while advancing economic development, improving safety and addressing congestion. The Missouri General Assembly authorized MoDOT to borrow $2.25 billion in 2000. MoDOT borrowed $907 million from fiscal years 2001-2004, referred to as senior lien debt.
Voters approved Amendment 3 in 2004 authorizing MoDOT to borrow funds by depositing vehicle sales taxes previously deposited in the state’s General Revenue Fund into a newly created State Road Bond Fund. The Amendment 3 revenues are designated for the payment of debt principal and interest. MoDOT borrowed $1.98 billion from fiscal years 2006-2010.
In fiscal year 2009, MoDOT borrowed $143 million for a portion of the new Interstate 64, a design-build project in the St. Louis region. This debt is referred to as Grant Anticipation Revenue Vehicle (GARVEE) bonds. In fiscal year 2010, MoDOT borrowed an additional $100 million for the new Mississippi River Bridge project and $685 million for the Safe and Sound Bridge Improvement Program.
The borrowed funds, shown below, do not include refunding bonds.
|
CO |
uo |
Os |
i— H |
CO |
uo |
Os |
i— H |
CO |
DO |
O |
Os |
— |
CO |
|||
|
o |
o |
o |
o |
o |
— i |
i-H |
i— < |
i— » |
i— < |
(N |
<N |
<N |
<N |
<N |
co |
co |
|
o |
o |
o |
o |
o |
o |
o |
o |
o |
O |
O |
O |
O |
O |
O |
o |
o |
|
<N |
<N |
<N |
<N |
<N |
<N |
<N |
<N |
<N |
<N |
<N |
<N |
<N |
<N |
<N |
<N |
<N |
State Fiscal Year
| _ Borrowed Funds _ Annual Payments _ |
Note:
The MHTC has $1.8 billion of bonds outstanding as of June 30, 2018. The average interest rate (true interest cost) on all outstanding debt combined is 2.86 percent.
Source: MoDOT.
Financial Snapshot - November 2018
10
Transportation Funding
Highway User Fees to Local Governments by Fiscal Year (Dollars in thousands)
The state does not receive all of the revenue generated by state highway user taxes and fees. The state constitution. Article IV, directs the Department of Revenue to distribute portions of the state motor fuel tax, motor vehicle sales and use taxes, and motor vehicle and driver licensing fees to cities and counties. The charts below show a six year history of transportation revenue sharing with local entities.
Cities
|
Motor Fuel Revenue |
Vehicle Sales Tax |
Motor Vehicle Fees |
Total |
|
|
2013 |
99,433 |
25,112 |
16,961 |
141,506 |
|
2014 |
100,077 |
28,340 |
16,059 |
144,476 |
|
2015 |
103,909 |
31,433 |
16,932 |
152,274 |
|
2016 |
104,130 |
33,285 |
17,343 |
154,758 |
|
2017 |
105,590 |
34,519 |
17,047 |
157,156 |
|
2018 |
105,364 |
35,574 |
17,746 |
158,684 |
|
Counties |
||||
|
Motor Fuel |
Vehicle Sales |
Motor Vehicle |
||
|
Revenue |
Tax |
Fees |
Total |
|
|
2013 |
77,980 |
16,741 |
11,307 |
106,028 |
|
2014 |
78,484 |
18,893 |
10,706 |
108,083 |
|
2015 |
81,487 |
20,956 |
11,288 |
113,731 |
|
2016 |
81,663 |
22,190 |
11,562 |
115,415 |
|
2017 |
82,815 |
23,012 |
11,365 |
117,192 |
|
2018 |
82,637 |
23,716 |
11,831 |
118,184 |
|
Total |
||||
|
Motor Fuel |
Vehicle Sales |
Motor Vehicle |
||
|
Revenue |
Tax |
Fees |
Total |
|
|
2013 |
177,413 |
41,853 |
28,268 |
247,534 |
|
2014 |
178,561 |
47,233 |
26,765 |
252,559 |
|
2015 |
185,396 |
52,389 |
28,220 |
266,005 |
|
2016 |
185,793 |
55,475 |
28,905 |
270,173 |
|
2017 |
188,405 |
57,531 |
28,412 |
274,348 |
|
2018 |
188,001 |
59,290 |
29,577 |
276,868 |
Source: Prepared by MoDOT based on Missouri Department of Revenue data.
Financial Snapshot - November 2018
11
Transportation Facts
Summary of MoDOT’s External and Internal Expenditures (Dollars in thousands)
The majority of MoDOT’s expenditures are payments to vendors. The payments are for goods and services needed to build and maintain Missouri’s transportation infrastructure. Whether it is payments to contractors, the purchase of equipment and supplies, design services or travel costs, these outward focused expenditures are an investment in Missouri’s economy, and drive economic opportunity in the state. Internally focused expenditures include employee salaries and benefits, and program distributions to other state agencies and universities.
|
Expenditures (External) |
2014 |
2015 |
2016 |
2017 |
2018 |
|
Construction Projects |
$761,481 |
$763,552 |
$671,228 |
$644,073 |
$798,122 |
|
Debt Service and Leases |
299,741 |
289,111 |
287,584 |
413,177 |
289,971 |
|
Program Distributions1 |
215,605 |
232,524 |
244,743 |
249,804 |
214,618 |
|
Supplies |
140,039 |
131,543 |
126,699 |
134,841 |
143,258 |
|
Services |
88,818 |
75,730 |
60,871 |
80,423 |
92,959 |
|
Equipment |
39,605 |
34,361 |
49,037 |
46,847 |
47,904 |
|
Miscellaneous |
36,148 |
38,624 |
40,816 |
36,594 |
38,516 |
|
Fuel and Utilities |
9,248 |
9,106 |
8,761 |
8,797 |
9,376 |
|
Refunds |
1,629 |
2,862 |
3,653 |
2,625 |
3,803 |
|
Professional Development |
1,387 |
1,495 |
3,780 |
1,944 |
1,575 |
|
Travel2 |
1,504 |
1,383 |
1,397 |
1,569 |
1,474 |
|
Total Expenditures |
$1,595,205 |
$1,580,291 |
$1,498,569 |
$1,620,694 |
$1,641,576 |
|
80% |
80% |
79% |
79% |
80% |
|
|
Expenditures (Internal) |
2014 |
2015 |
2016 |
2017 |
2018 |
|
Salaries and Benefits |
$392,393 |
$400,454 |
$398,886 |
$413,212 |
$416,405 |
|
Program Distributions3 |
7,057 |
5,699 |
6,180 |
7,011 |
5,768 |
|
Travel4 |
472 |
418 |
458 |
457 |
446 |
|
Total Expenditures |
$399,922 |
$406,571 |
$405,524 |
$420,680 |
$422,619 |
|
19% |
20% |
20% |
21% |
20% |
|
|
Other State Agencies |
$233,307 |
$250,109 |
$250,272 |
$261,491 |
$261,228 |
|
Total |
$2,228,434 |
$2,236,971 |
$2,154,365 |
$2,302,865 |
$2,325,423 |
Notes:
1 Payments or federal funds passed through to cities, counties and other political subdivsions.
2 Payments to vendors.
3 Payments or federal funds passed through to other state agencies and universities.
4 Employee reimbursements.
Source: MoDOT
Financial Snapshot - November 2018
12
Transportation Facts
Summary of MoDOT’s Expenditures1 by County Fiscal Year 2018 (Dollars in thousands)
|
Andrew |
$8,365 |
|
Atchison |
7,140 |
|
Buchanan |
30,462 |
|
Caldwell |
2,759 |
|
Carroll |
2,938 |
|
Chariton |
2,353 |
|
Clinton |
3,448 |
|
Daviess |
5,289 |
|
DeKalb |
8,557 |
|
Gentry |
5,660 |
|
Grundy |
2,276 |
|
Harrison |
5,622 |
|
Holt |
12,512 |
|
Linn |
4,671 |
|
Livingston |
3,130 |
|
Mercer |
6,530 |
|
Nodaway |
6,901 |
|
Putnam |
4,572 |
|
Sullivan |
5,902 |
|
Worth |
3,071 |
|
Subtotal-Northwest2 |
$132,158 |
|
Adair |
6,708 |
|
Audrain |
5,340 |
|
Clark |
3,612 |
|
Knox |
4,184 |
|
Lewis |
7,315 |
|
Lincoln |
12,852 |
|
Macon |
8,702 |
|
Marion |
25,367 |
|
Monroe |
2,134 |
|
Montgomery |
7,123 |
|
Pike |
47,190 |
|
Ralls |
7,917 |
|
Randolph |
3,892 |
|
Schuyler |
1,733 |
|
Scotland |
2,167 |
|
Shelby |
3,135 |
|
Warren |
11,984 |
|
Subtotal-Northeast2 |
$161,355 |
|
Cass |
19,247 |
|
Clay |
43,454 |
|
Jackson |
137,476 |
|
Johnson |
17,203 |
|
Lafayette |
16,629 |
|
Pettis |
10,034 |
|
Platte |
33,605 |
|
Ray |
4,293 |
|
Saline |
11,944 |
|
Subtotal-Kansas City2 |
$293,885 |
|
Boone |
$22,895 |
|
Callaway |
16,087 |
|
Camden |
17,941 |
|
Cole |
41,509 |
|
Cooper |
9,112 |
|
Crawford |
7,902 |
|
Dent |
7,268 |
|
Gasconade |
9,488 |
|
Howard |
3,116 |
|
Laclede |
10,973 |
|
Maries |
3,447 |
|
Miller |
8,345 |
|
Moniteau |
1,597 |
|
Morgan |
5,512 |
|
Osage |
6,083 |
|
Phelps |
14,763 |
|
Pulaski |
5,610 |
|
Washington |
7,717 |
|
Subtotal-Central2 |
$199,365 |
|
Franklin |
63,454 |
|
Jefferson |
34,018 |
|
St. Charles |
54,105 |
|
St. Louis City |
68,147 |
|
St. Louis County |
167,758 |
|
Subtotal-St. Louis2 |
$387,482 |
|
Barry |
3,635 |
|
Barton |
2,325 |
|
Bates |
4,262 |
|
Benton |
5,200 |
|
Cedar |
4,099 |
|
Christian |
8,313 |
|
Dade |
2,930 |
|
Dallas |
1,605 |
|
Greene |
71,759 |
|
Henry |
8,050 |
|
Hickory |
2,705 |
|
Jasper |
21,526 |
|
Lawrence |
11,590 |
|
McDonald |
7,255 |
|
Newton |
6,999 |
|
Polk |
5,461 |
|
St. Clair |
2,554 |
|
Stone |
3,714 |
|
Taney |
23,450 |
|
Vernon |
5,911 |
|
Webster |
11,771 |
|
Subtotal-Southwest2 |
$215,114 |
|
Bollinger |
$6,596 |
|
Butler |
7,922 |
|
Cape Girardeau |
9,844 |
|
Carter |
2,903 |
|
Douglas |
3,942 |
|
Dunklin |
7,850 |
|
Howell |
10,921 |
|
Iron |
5,865 |
|
Madison |
5,092 |
|
Mississippi |
4,180 |
|
New Madrid |
6,028 |
|
Oregon |
5,180 |
|
Ozark |
9,579 |
|
Pemiscot |
6,670 |
|
Perry |
3,760 |
|
Reynolds |
3,172 |
|
Ripley |
3,068 |
|
Scott |
33,938 |
|
Shannon |
6,605 |
|
St. Francois |
4,532 |
|
St. Genevieve |
4,124 |
|
Stoddard |
9,019 |
|
Texas |
14,376 |
|
Wayne |
9,131 |
|
Wright |
6,810 |
|
Subtotal-Southeast2 |
$191,107 |
|
Statewide Support2,3 |
162,910 |
|
Other2,4 |
31,202 |
|
Debt Service |
289,617 |
|
Other State Agencies |
261,228 |
|
Total |
$2,325,423 |
|
Notes: |
1 Expenditures for road and bridge ($2,217,525), multimodal ($91,903) and highway safety ($15,995) as shown on page 5.
2 Includes multimodal ($91,903) and federal pass through for cities and counties ($1 15,788), which are not included in the amounts spent by district as shown on page 24 of the Citizen’s Guide to Transportation Funding in Missouri.
3 Expenditures for bridge design, safety inspection, administrative services, etc.
4 Expenditures associated with multiple counties or not identifiable to a specific county.
Source: MoDOT
Financial Snapshot - November 2018
13
Transportation Facts
Summary of Actual and Projected Construction Awards and Contractor Payments (Dollars in millions)
The graph below displays the relationship between construction awards and contractor payments. Prior to fiscal year (FY) 2011, MoDOT averaged annual construction awards of $1.2 billion. Most projects are not completed in the year awarded, but are built and paid for in subsequent years. For example, approximately $270 million of projected FY 2019 contractor payments is for projects awarded in FY 2019. The remainder is for projects awarded in prior years. Awards declined dramatically in FY 2011, but contractor payments remained high as the prior year projects were completed. The FY 2013 contractor payments declined because awards in FY 2011 and FY 2012 reduced significantly. Contruction awards and contractor payments equal in future years due to construction awards remaining steady at $900 million from 2019-2023. The information is based on the latest financial forecast that was used to develop the 2019-2023 Statewide Transportation Improvement Program (STIP).
Also, shown below are the negative impacts starting in 2021, if additional Federal Highway Trust Fund receipts are not approved by Congress.
Fiscal Year
^^•Construction Awards ‘^•^Contractor Payments
Source: MoDOT
Financial Snapshot - November 2018
14
Transportation Facts
Missouri’s State and Federal Fuel Tax Rates and Fuel Tax History
The largest source of transportation revenue is from the federal government through a fuel tax. The largest source of state transportation revenue is the fuel tax. The state motor fuel tax is not indexed to keep pace with inflation. No rate increases have occurred on the state or federal level since the 1990’s.
Cents per gallon
■ State Federal
Note:
1 The gasoline taxes are also levied on gasohol.
State Fuel Tax History:
• The first state fuel tax rate was 2 cents per gallon, established in 1924.
• Fuel tax rate increased to 3 cents per gallon in 1952.
• Fuel tax rate increased to 5 cents per gallon in 1961.
• Fuel tax rate increased to 7 cents per gallon August 13, 1972.
• Fuel tax rate increased to 11 cents per gallon effective June 1, 1987 (Proposition A).
• Fuel tax rate increased to 13 cents per gallon effective April 1, 1992.
• Fuel tax rate increased to 15 cents per gallon effective April 1, 1994.
• Fuel tax rate increased to its current rate of 17 cents per gallon effective April 1, 1996.
Federal Fuel Tax History:
• The first federal fuel tax rate was 1 cent per gallon for both gasoline and diesel, established in 1932.
• Fuel tax rate increased to 3 cents per gallon for both gasoline and diesel in 1956.
• Fuel tax rate increased to 4 cents per gallon for both gasoline and diesel in 1959.
• Fuel tax rate increased to 9 cents per gallon for both gasoline and diesel in 1983.
• Fuel tax rate increased to 15 cents per gallon for diesel in 1984.
• Fuel tax rate increased to 9.1 cents per gallon for gasoline and 15.1 cents per gallon for diesel in 1987.
• Fuel tax rate increased to 14.1 cents per gallon for gasoline and 20.1 cents per gallon for diesel in 1990.
• Fuel tax rate increased to its current rate of 18.4 cents per gallon for gasoline and 24.4 cents per gallon for diesel in
1993, with fluctuations in the rate of the tax in 1995, 1996 and 1997 with the current rate effective October 1, 1997.
Source: Prepared by MoDOT based on Missouri Department of Revenue and Federal Highway Administration data.
Financial Snapshot - November 2018
15
Transportation Facts
Missouri Vehicle Registrations and Licensed Drivers Fiscal Year 2018
|
Vehicle Type |
Number |
|
Passenger Cars |
3,784.366 |
|
Trucks |
1,505,083 |
|
Recreational Vehicles |
17,268 |
|
Buses |
22,564 |
|
Motorcycles/Tricycles |
156,277 |
|
Total |
5,485,558 |
|
Number of licensed drivers in Missouri |
|
|
Male |
2,066,910 |
|
Female |
2,182,669 |
|
Total |
4,249,579 |
Source: Prepared by MoDOT based on Missouri Department of Revenue and Federal Highway Administration data.
Financial Snapshot - November 2018
Transportation Facts
Net Motor Fuel Gallons Taxed (Gallons in millions)
Percent
|
Fiscal Year |
Gasoline |
Diesel |
Total |
change |
|
1991 |
2,633 |
592 |
3,225 |
-0.324 |
|
1992 |
2,679 |
604 |
3,283 |
1.781 |
|
1993 |
2,686 |
613 |
3,299 |
0.500 |
|
19942 |
2,766 |
697 |
3,463 |
4.953 |
|
1995 |
2,796 |
709 |
3,505 |
1.248 |
|
1996 |
2,837 |
772 |
3,609 |
2.968 |
|
1997 |
2,887 |
782 |
3,669 |
1.631 |
|
1998 |
2,931 |
802 |
3,733 |
1.775 |
|
19993 |
2,926 |
835 |
3,761 |
0.741 |
|
2000 |
3,056 |
916 |
3,972 |
5.582 |
|
2001 |
2,975 |
860 |
3,835 |
-3.441 |
|
2002 |
3,025 |
914 |
3,939 |
2.708 |
|
2003 |
3,083 |
923 |
4,006 |
1.702 |
|
2004 |
3,148 |
977 |
4,125 |
2.993 |
|
2005 |
3,158 |
1,025 |
4,183 |
1.395 |
|
2006 |
3,124 |
1,032 |
4,156 |
-0.635 |
|
2007 |
3,109 |
1,033 |
4,142 |
-0.347 |
|
2008 |
3,119 |
1,064 |
4,183 |
0.982 |
|
2009 |
3,068 |
934 |
4,002 |
-4.316 |
|
2010 |
3,086 |
946 |
4,032 |
0.750 |
|
2011 |
3,066 |
967 |
4,033 |
0.019 |
|
2012 |
3,025 |
951 |
3,976 |
-1.413 |
|
2013 |
2,973 |
946 |
3,919 |
-1.431 |
|
2014 |
2,969 |
957 |
3,926 |
0.171 |
|
2015 |
3,030 |
979 |
4,009 |
2.120 |
|
2016 |
3,101 |
1,006 |
4,107 |
2.457 |
|
2017 |
3,115 |
1,014 |
4,129 |
0.536 |
|
2018 |
3,106 |
1,040 |
4,146 |
0.412 |
Notes:
1 Gasoline gallons include gasohol, compressed natural gas and liquefied natural gas.
2 Beginning January 1, 1994. the Federal government moved the collection point to the terminal. All tax exempt diesel has to be dyed.
3 Beginning January 1, 1999. the State moved the collection point to the rack (terminal). Fiscal year 2000 was the first full year of collections at the terminal.
Source: Prepared by MoDOT based on Missouri Department of Revenue month of distribution data.
Financial Snapshot - November 2018
17
Transportation Facts
The following data shows the proportionate share between MoDOT, cities and counties of the three main revenue sources: motor fuel tax, motor vehicle sales tax and the motor vehicle and driver’s licensing fees. The Missouri State Highway Patrol (MSHP) and the Department of Revenue (DOR) receive appropriations from these revenues as well.
Distribution of Highway User Fees Fiscal Year 2018
Fuel Taxes Rates:
|
State: |
Gas / Gasohol |
Percent |
Diesel |
Percent |
|
State -Roads & Bridges, MSHP, DOR |
12.450 |
73.2% |
12.450 |
73.2% |
|
Cities1 |
2.550 |
15.0% |
2.550 |
15.0% |
|
Counties2 |
2.000 |
11.8% |
2.000 |
11.8% |
|
Total State |
17.000 |
17.000 |
||
|
Federal: |
||||
|
Underground Storage Tank |
0.100 |
0.6% |
0.100 |
0.4% |
|
Transit Account |
2.860 |
15.5% |
2.860 |
11.7% |
|
Highway Account |
15.440 |
83.9% |
21.440 |
87.9% |
|
Total Federal |
18.400 |
24.400 |
||
|
TOTAL FUEL TAX RATE |
35.400 |
41.400 |
||
|
State Motor Vehicle Sales Taxes: |
Sales |
Percent |
||
|
State -Roads & Bridges |
2.960% |
70.1% |
||
|
State-Other Transportation Modes |
0.040% |
0.9% |
||
|
Cities1 |
0.300% |
7.1% |
||
|
Counties2 |
0.200% |
4.7% |
||
|
School District Trust Fund |
0.500% |
11.8% |
||
|
Department of Conservation |
0.125% |
3.0% |
||
|
Department of Natural Resources |
0.100% |
2.4% |
||
|
TOTAL STATE TAX RATE |
4.225% |
|||
|
Fees prior to |
Fee Increases |
|||
|
State Motor Vehicle & Drivers Licensing Fees: |
1/1/80 |
after 1/1/80 |
||
|
State -Roads & Bridges, MSHP, DOR |
100% |
75% |
||
|
Cities1 |
- |
15% |
||
|
Counties2 |
- |
10% |
Notes:
1 City share is based on population.
2 County share is based on assessed rural land valuation and rural road mileage.
Source: MoDOT.
Financial Snapshot - November 2018
18
Transportation Facts
Potential Transportation Revenue Options-Motor Fuel Tax
Yield from Increasing Gas Excise Tax 1
|
5-Cents |
10-Cents |
15-Cents |
|
|
State (70%) City (15%) County (15%) |
$108,505,531 23,251,185 23,251,185 |
$217,011,063 46,502,370 46,502,370 |
$325,516,592 69,753,556 69,753,556 |
|
Total |
$155,007,901 |
$310,015,803 |
$465,023,704 |
|
Yield From Increasing Diesel Fuel Excise Tax 1 |
|||
|
5-Cents |
10-Cents |
15-Cents |
|
|
State (70%) City (15%) County (15%) |
$36,402,952 7,800,633 7,800,633 |
$72,805,905 15,601,265 15,601,265 |
$109,208,857 23,401,898 23,401,898 |
|
Total |
$52,004,218 |
$104,008,435 |
$156,012,653 |
Yield From Increasing All Motor Fuel Excise Tax 1
|
5-Cents |
10-Cents |
15-Cents |
|
|
State (70%) |
$144,908,483 |
$289,816,968 |
$434,725,449 |
|
City (15%) |
31,051,818 |
62,103,635 |
93,155,454 |
|
County (15%) |
31,051,818 |
62,103,635 |
93,155,454 |
|
Total |
$207,012,119 |
$414,024,238 |
$621,036,357 |
Yield From Implementing Sales Tax On Motor Fuel 2
|
1.0% |
3.0% |
5.0% |
|
|
State (70%) City (15%) County (15%) |
$68,143,705 14,602,223 14,602,223 |
$204,431,116 43,806,668 43,806,668 |
$340,718,527 73,011,113 73,011,113 |
|
Total |
$97,348,151 |
$292,044,452 |
$486,740,753 |
|
Yield From Implementing Consumer Price Index Adjustment On Motor Fuel 13 |
|||
|
Year-1 |
Year-2 |
Year-3 |
|
|
State (70%) City (15%) County (15%) |
$10,433,411 2,235,731 2,235,731 |
$20,866,822 4,471,462 4,471,462 |
$31,590,049 6,769,296 6,769,296 |
|
Total |
$14,904,873 |
$29,809,746 |
$45,128,641 |
Notes:
1 Potential yields are based on fiscal year 2018 net diesel gallons taxed of 1,040,084,353 and net gasoline and gasohol gallons taxed of 3,100,158,026.
2 Potential yields are based on the gasoline price per gallon of $2.65 and the diesel price per gallon of $2.93 as reported in the August 10, 2018 Missouri Energy Bulletin. Yields exclude federal and state motor fuel excise tax in the calculation.
3 Potential yields are based on an annual consumer price index of 2. 1 percent (15-year average).
Source: MoDOT.
Financial Snapshot - November 2018
19
Transportation Facts
Potential Transportation Revenue Options-Sales Tax
Yield From Increasing Motor Vehicle Sales Tax
|
0.10% |
0.25% |
0.75% |
1.00% |
|
|
State (87.5%) City (7.5%) County (5%) |
$10,707,639 917,798 611,865 |
$26,769,097 2,294,494 1,529,663 |
$80,307,291 6,883,482 4,588,988 |
$107,076,388 9,177,976 6,118,651 |
|
Total |
$12,237,302 |
$30,593,254 |
$91,779,761 |
$122,373,015 |
|
Yield From Increasing General Sales Tax (Excludes Motor Vehicle Sales Tax) |
||||
|
0.10% |
0.25% |
0.75% |
1.00% |
|
|
State (100%) City (0%) County (0%) |
$73,222,458 0 0 |
$183,056,145 0 0 |
$549,168,436 0 0 |
$732,224,581 0 0 |
|
Total |
$73,222,458 |
$183,056,145 |
$549,168,436 |
$732,224,581 |
|
Yield From Increasing General Sales Tax (Includes Motor Vehicle Sales Tax) |
||||
|
0.10% |
0.25% |
0.75% |
1.00% |
|
|
State (98.2%) City (1.1%) County (0.7%) |
$83,930,097 917,798 611,865 |
$209,825,242 2,294,494 1,529,663 |
$629,475,727 6,883,482 4,588,988 |
$839,300,969 9,177,976 6,118,651 |
|
Total |
$85,459,760 |
$213,649,399 |
$640,948,197 |
$854,597,596 |
Source: Prepared by MoDOT based on fiscal year 2018 receipts.
Financial Snapshot - November 2018
20
Transportation Facts
Potential Transportation Revenue Options -Motor Vehicle and Driver Licensing Fees and Alternative Fuel Decal Fees
Yield From Increasing All Passenger Car Fees
|
$5.00 |
$10.00 |
$25.00 |
$30.00 |
|
|
State (75%) |
$14,191,372 |
$28,382,745 |
$70,956,862 |
$85,148,235 |
|
City (15%) |
2,838,275 |
5,676,549 |
14,191,373 |
17,029,647 |
|
County (10%) |
1,892,183 |
3,784,366 |
9,460,915 |
11,353,098 |
|
Total |
$18,921,830 |
$37,843,660 |
$94,609,150 |
$113,530,980 |
Yield From Increasing All Truck & Bus Fees
|
$5.00 |
$10.00 |
$25.00 |
$30.00 |
|
|
State (75%) |
$5,728,676 |
$11,457,352 |
$28,643,381 |
$34,372,057 |
|
City (15%) |
1,145,735 |
2,291,471 |
5,728,676 |
6,874,412 |
|
County (10%) |
763,824 |
1,527,647 |
3,819,118 |
4,582,941 |
|
Total |
$7,638,235 |
$15,276,470 |
$38,191,175 |
$45,829,410 |
Yield From Increasing Driver Licensing Fees
|
$5.00 |
$10.00 |
$25.00 |
$30.00 |
|
|
State (75%) |
$4,177,905 |
$8,355,810 |
$20,889,525 |
$25,067,430 |
|
City (15%) |
835,581 |
1,671,162 |
4,177,905 |
5,013,486 |
|
County (10%) |
557,054 |
1,114,108 |
2,785,270 |
3,342,324 |
|
Total |
$5,570,540 |
$11,141,080 |
$27,852,700 |
$33,423,240 |
|
Yield From Increasing Alternative Fuel Decal Fees |
||||
|
10.00% |
20.00% |
30.00% |
40.00% |
|
|
State (75%) |
$32,637 |
$65,276 |
$97,913 |
$130,551 |
|
City (15%) |
6,528 |
13,055 |
19,583 |
26,110 |
|
County (10%) |
4,352 |
8,703 |
13,055 |
17,407 |
|
Total |
$43,517 |
$87,034 |
$130,551 |
$174,068 |
Yield From Converting All Passenger Car Fees from Horsepower to Miles per Gallon1
|
State (75%) |
$-1,341,033 |
|
City (15%) |
11,349,975 |
|
County (10%) |
7,566,650 |
|
Total |
$17,575,592 |
Notes:
1 Potential yields are based on a $24 base fee, an additional $6 per mile per gallon in excess of 29 miles per gallon and a $210 fee for electrical and other non-motor fuel vehicles.
Source: Prepared by MoDOT based on Missouri Department of Revenue passenger car, truck and bus registrations and driver license renewal information. Alternative fuel decal fee data is based on fiscal year 2018 revenue received.
Financial Snapshot - November 2018
21
Transportation Facts
Potential Transportation Revenue Options - $100 million, $250 million and $500 million
Yield from Increasing All Motor Fuel Excise Tax 1
|
2.5-Cents |
6- Cents |
12-Cents |
|
|
State (70%) |
$72,454,242 |
$173,890,181 |
$347,780,359 |
|
City (15%) |
15,525,909 |
37,262,181 |
74,524,363 |
|
County (15%) |
15,525,909 |
37,262,181 |
74,524,363 |
|
Total |
$103,506,060 |
$248,414,543 |
$496,829,085 |
Yield From Implementing Sales Tax On Motor Fuel 2
|
1.0% |
2.6% |
5.2% |
|
|
State (70%) |
$68,143,705 |
$177,173,634 |
$354,347,269 |
|
City (15%) |
14,602,223 |
37,965,779 |
75,931,557 |
|
County (15%) |
14,602,223 |
37,965,779 |
75,931,557 |
|
Total |
$97,348,151 |
$253,105,192 |
$506,210,383 |
Yield From Increasing Motor Vehicle Sales Tax
|
0.82% |
2.05% |
4.10% |
|
|
State (87.5%) |
$87,802,638 |
$219,506,596 |
$439,013,192 |
|
City (7.5%) |
7,525,940 |
18,814,851 |
37,629,702 |
|
County (5%) |
5,017,294 |
12,543,234 |
25,086,468 |
|
Total |
$100,345,872 |
$250,864,681 |
$501,729,362 |
Yield From Increasing General Sales Tax (Excludes Motor Vehicle Sales Tax)
|
0.14% |
0.34% |
0.68% |
|
|
State (100%) |
$102,511,441 |
$248,956,358 |
$497,912,715 |
|
City (0%) |
0 |
0 |
0 |
|
County (0%) |
0 |
0 |
0 |
|
Total |
$102,511,441 |
$248,956,358 |
$497,912,715 |
Yield From Increasing General Sales Tax (Includes Motor Vehicle Sales Tax)
|
0.12% |
0.29% |
0.58% |
|
|
State (98.2%) |
$100,716,117 |
$243,397,280 |
$486,794,563 |
|
City (1.1%) |
1,101,357 |
2,661,613 |
5,323,226 |
|
County (0.7%) |
734,238 |
1,774,409 |
3,548,817 |
|
Total |
$102,551,712 |
$247,833,302 |
$495,666,606 |
Notes:
1 Potential yields are based on fiscal year 2018 net diesel gallons taxed of 1,040,084,353 and net gasoline and gasohol gallons taxed of 3,100,158,026.
2 Potential yields are based on the gasoline price per gallon of $2.65 and the diesel price per gallon of $2.93 as reported in the August 10, 2018 Missouri Energy Bulletin. Yields exclude federal and state motor fuel excise tax in the calculation.
Source: Prepared by MoDOT based on fiscal year 2018 receipts.
Financial Snapshot - November 2018
22
Transportation Facts
Potential Transportation Revenue Options - $100 million and $250 million
Yield from Increasing All Passenger Car, Truck, Bus and Driver Licensing Fees
|
$15.50 |
$39.00 |
|
|
State (75%) |
$74,703,658 |
$187,964,040 |
|
City (15%) |
14,940,731 |
37,592,808 |
|
County (10%) |
9,960,487 |
25,061,871 |
|
Total |
$99,604,876 |
$250,618,719 |
Source: Prepared by MoDOT based on Missouri Department of Revenue passenger car, truck and bus registrations and driver license renewal information.
Financial Snapshot - November 2018
23
MISSOURI HIGHWAYS AND TRANSPORTATION COMMISSION (MHTC) Road and Bridge Funding - Summary
(Effective 7/5/2013)
Financial Snapshot - November 2018
24
'Requires certification by the Commissioner of Administration and the Missouri Highways and Transportation Commission. Source: MoDOT
X
Missouri Department of Transportation
Financial Services Division
573.526.8106
www.modot.org
1-888-ASK-MODOT