HP1053
LD 1546
Session - 127th Maine Legislature
 
LR 2587
Item 1
Bill Tracking, Additional Documents Chamber Status

An Act To Make Allocations from Maine Turnpike Authority Funds for the Maine Turnpike Authority for the Calendar Year Ending December 31, 2017

Be it enacted by the People of the State of Maine as follows:

Sec. 1. Allocation. Gross revenues of the Maine Turnpike Authority for the calendar year ending December 31, 2017 must be segregated, apportioned and disbursed as designated in the following schedule.
MAINE TURNPIKE AUTHORITY 2017
Administration
Personal Services $1,192,301
All Other 1,577,041
inline graphic sline.gif
TOTAL $2,769,342
Accounts and Controls
Personal Services $2,937,083
All Other 1,308,454
inline graphic sline.gif
TOTAL $4,245,537
Highway Maintenance
Personal Services $4,438,021
All Other 3,073,874
inline graphic sline.gif
TOTAL $7,511,895
Equipment Maintenance
Personal Services $1,180,371
All Other 2,198,603
inline graphic sline.gif
TOTAL $3,378,974
Fare Collection
Personal Services $9,962,825
All Other 3,897,096
inline graphic sline.gif
TOTAL $13,859,921
Public Safety and Special Services
Personal Services $502,612
All Other 6,331,155
inline graphic sline.gif
TOTAL $6,833,767
Building Maintenance
Personal Services $561,819
All Other 567,685
inline graphic sline.gif
TOTAL $1,129,504
Subtotal of Line Items Budgeted $39,728,940
General Contingency - 10% of line items budgeted for 2017 (10% allowed) $3,972,894
MAINE TURNPIKE AUTHORITY inline graphic sline.gif
TOTAL REVENUE FUNDS $43,701,834

Sec. 2. Transfer of allocations. Any balance of the allocation for "General Contingency" made by the Legislature for the Maine Turnpike Authority may be transferred at any time prior to the closing of the books to any other allocation or subdivision of any other allocation made by the Legislature for the use of the Maine Turnpike Authority for the same calendar year. Any balance of any other allocation or subdivision of any other allocation made by the Legislature for the Maine Turnpike Authority that at any time is not required for the purpose named in the allocation or subdivision may be transferred at any time prior to the closing of the books to any other allocation or subdivision of any other allocation made by the Legislature for the use of the Maine Turnpike Authority for the same calendar year subject to review by the joint standing committee of the Legislature having jurisdiction over transportation matters. Financial statements describing the transfer, other than a transfer from "General Contingency," must be submitted by the Maine Turnpike Authority to the Office of Fiscal and Program Review 30 days before the transfer is to be implemented. In the case of extraordinary emergency transfers, the 30-day prior submission requirement may be waived by vote of the committee. These financial statements must include information specifying the accounts that are affected, amounts to be transferred, a description of the transfer and a detailed explanation as to why the transfer is needed.

Sec. 3. Encumbered balance at year-end. At the end of each calendar year, encumbered balances may be carried to the next calendar year.

Sec. 4. Supplemental information. As required by the Maine Revised Statutes, Title 23, section 1961, subsection 6, the following statement of the revenues in 2017 that are necessary for capital expenditures and reserves and to meet the requirements of any resolution authorizing bonds of the Maine Turnpike Authority during 2017, including debt service and the maintenance of reserves for debt service and reserve maintenance, is submitted.
Turnpike Revenue Bond Resolution Adopted April 18, 1991; Issuance of Bonds Authorized Pursuant to the Maine Revised Statutes, Title 23, section 1968, subsection 1 and former subsection 2 2017
Debt Service Fund $33,643,865
Reserve Maintenance Fund 36,500,000
General Reserve Fund, to be applied as follows:
Capital Improvements 20,859,681
Debt Service Fund under the General Special Obligation Bond Resolution Adopted May 15, 1996; Issuance of Bonds Authorized Pursuant to the Maine Revised Statutes, Title 23, section 1968, subsection 2-A 3,698,300
inline graphic sline.gif
TOTAL $94,701,846

summary

This bill makes allocations from gross revenues of the Maine Turnpike Authority for the payment of the authority's operating expenses for the calendar year ending December 31, 2017 in accordance with the requirements of the Maine Revised Statutes, Title 23, section 1961, subsection 6.


Top of Page