An Act To Make Allocations from Maine Turnpike Authority Funds for the Maine Turnpike Authority for the Calendar Year Ending December 31, 2006
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, 2006 must be segregated, apportioned and disbursed as designated in the following schedule.
MAINE TURNPIKE AUTHORITY 2006
Administration
Personal Services $996,991
All Other 1,358,986
__________
Total $2,355,977
Accounts and Controls
Personal Services $2,451,015
All Other 1,231,095
__________
Total $3,682,110
Highway Maintenance
Personal Services $3,526,732
All Other 2,938,693
__________
Total $6,465,425
Equipment Maintenance
Personal Services $919,913
All Other 1,314,329
__________
Total $2,234,242
Fare Collection
Personal Services $10,623,785
All Other 4,655,927
__________
Total $15,279,712
Public Safety and Special Services
Personal Services $443,312
All Other 5,877,548
__________
Total $6,320,860
Building Maintenance
Personal Services $598,621
All Other 613,481
__________
Total $1,212,102
Subtotal of Line Items Budgeted $37,550,428
General Contingency - 5% of line items budgeted for 2006 (10% allowed) 1,877,521
MAINE TURNPIKE AUTHORITY __________
TOTAL REVENUE FUNDS $39,427,949
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 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 2006 that are necessary for capital expenditures and reserves and to meet the requirements of any resolution authorizing bonds of the Maine Turnpike Authority during 2006, 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,
subsections 1 and 2.
2006
Debt Service Fund $21,882,842
Reserve Maintenance Fund 16,000,000
General Reserve Fund, to be
applied as follows:
Capital Improvements 9,063,449
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
2,463,548
__________
TOTAL $49,409,839
Effective June 29, 2005.
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