Caltrans Monthly Finance Report

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Caltrans Monthly Finance Report. Presented to the California Transportation Commission September 15, 2004. State Budget Update. The Budget for 2004-05 has been finalized. - PowerPoint PPT Presentation

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  • State Budget UpdateThe Budget for 2004-05 has been finalized. The following 24-month cash forecasts are final forecasts, based on the signed Budget Act, enacted trailer bills, and all budget related legislation.The following forecasts are the Departments official update and will heretofore be referred to as the September Forecast.

  • State Highway Account September ForecastChanges that affect the SHA cash forecast:$184M TCRP loan repayment assumed in June Forecast was reduced to $20M in the final Budget.Technical adjustments were made to the timing of certain revenue receipts.Minor adjustments were made to expenditures to reflect revised expenditure ratios.Removal of expenditures in FY 2005-06 of a one-time BCP that was inadvertently carried forward.Does not assume revenues resulting from the renegotiation of tribal gaming compacts.The SHA forecast does not assume that the ethanol impact is fully mitigated.

  • State Highway Account Cash Forecast

    24 month Graph

    FY 2004-05 Forecast Assumptions

    uMonthly cash balances for the Fund Estimate are averaged based on beginning and ending cash balances.

    uAssumes support expenditures as approved in the FY 2004-05 Budget Act.

    u$20 million payback from TCRF.

    uVote of $504 million in FY 2004-05

    uAssumes no votes beyond FY 2004-05.

    uAssumes Federal collection numbers as presented to the CTC in the May forecast.

    uDoes not assume early loan payback resulting from the renegotiation of tribal gaming compacts.

    Assumption Change from May ForecastAssumption Change from June Preliminary Forecast

    The May Forecast did not include a TCRF loan payback.$184 million payback from TCRF reduced to $20 million.

    uThe May Forecast assumed $1.9 B in allocationsuTechnical adjustments to timing of revenue receipts.

    uThe May Forecast did not include Finance Letters which were not publised untiluMinor adjustment to expenditures to reflect revised expenditure ratios.

    after presentation of the May Forecast.uRemoval of expenditures in FY 2005-06 of one-time BCP that was inadvertently

    carried forward.

    &L&"Times New Roman,Regular"&16Caltrans Monthly Finance Report&R&"Times New Roman,Regular"&16Agenda Item 3.1September 15, 2004

    &C&"Times New Roman,Regular"&16Attachment 1

    24 month Graph

    390530510510

    410520480480

    430450580410

    450230330190

    470360450310

    490340400280

    510290330190

    530300330190

    550460460320

    570290280140

    590460430290

    613380320190

    60040060

    590430290

    580260240

    5702900

    56080170

    55021090

    550250250

    54050110

    530290170

    5307030

    53080250

    520-90110

    2004 SHA Fund Estimate

    May Forecast

    June Forecast

    September Forecast

    STATE HIGHWAY ACCOUNT CASH FORECAST($ in millions)

    Available Cash

    STATE HIGHWAY ACCOUNT

    Adjusted Cash Balance as of June 30, 2004

    ($ in millions)

    20022003

    JulAugSepOctNovDecJanFebMarAprMayJune20032004

    JULYAUGSEPOCTNOVDECJANFEBMARAPRMAYJUN

    Beginning Cash Balance (SHA & TRA)$1,173$908$787$739$699$499$703$236$236$407$538$205$658$344$115$569$404$267$388$507$264$556$818$607

    Add:Receipts for Month$366$470$726$748$447$789$496$437$694$758$556$596232348840289269533426151667679137432

    Less:Disbursements for Month$631$591$774$788$647$585$963$437$523$626$889$469(546)(577)(387)(454)(407)(412)(307)(394)(375)(417)(348)(567)

    Ending Cash Balance$908$787$739$699$499$703$236$236$407$538$205$293$344$115$569$404$267$388$507$264$556$818$607$471

    Cash Reconciliation (Short-term loans and Transfers)

    Add:GF Short Term Loan$29$209$0$0$0$0$0$112$112$0$0$0

    Less:TRA Balance from Other Funds(32)(11)(25)(32)(86)(47)(52)(37)(65)(118)(42)(68)

    Less:TCRF Short Term Loan(307)(267)(246)(180)(140)(140)(140)(140)(114)(114)(114)(114)

    Less:PTA Short Term Loan(50)000(75)(75)(75)(75)(75)(75)(75)0

    Adjusted SHA Cash Balance*($16)$46$298$192($34)$126$240$124$413$510$375$288

    Current Commitments Against Cash:**

    State Operations$ 0$ 0$156$157$240

    Local Assistance$ 0$ 0247218232

    Capital Outlay Contracts:$ 1,917

    Awarded1,3041,1881,2311,181

    Advertised but not Awarded482419376327

    Allocated but not Advertised131131127102

    Total Commitments$ 0$ 0$2,363$2,109$2,083

    Available Cash Balance$0$0($1,853)($1,734)($1,794)

    * The Department's cash forecast is based on the adjusted SHA cash balance.

    ** This section represents an estimate of all of the unpaid contractual and pending commitments against the SHA and Federal Funds:

    State Operations represents the encumbered balance of State Operations.

    Local Assistance represents the encumbered balance of Local Assistance projects.

    Awarded Capital Outlay Contracts represents the remaining balance of all awarded SHA/Federal contracts.

    Advertised but not Awarded Contracts are projects that have been allocated and advertised, but not yet awarded.

    Allocated but not Advertised Contracts are projects that have been allocated, but have not been advertised.

    &L&"Times New Roman,Regular"&15Caltrans Monthly Finance Report&R&"Times New Roman,Regular"&15Agenda Item 3.1September 15, 2004

    &C&"Times New Roman,Regular"&15Attachment 5

    Forecast data

    May ForecastJune ForecastForecast No VotesSeptember Forecast

    2004 SHA Fund EstimateMay ForecastJune Forecast2004-05 Base Forecast2004-05 2.2B votes2004-05 504 M votes

    Jul-03-16

    Aug20

    Sep60

    Oct100

    Nov140

    Dec180

    Jan220

    Feb260

    Mar300

    Apr340

    May370

    Jun373288

    1Jul-04390530510440440510

    2Aug410520480490490480

    3Sep430450580430430410

    4Oct450230330200200190

    5Nov470360450330330310

    6Dec490340400300290280

    7Jan510290330230220190

    8Feb530300330240220190

    9Mar550460460410370320

    10Apr570290280240180140

    11May590460430420340290

    12Jun613380320350240190

    13Jul-0560040027012060

    14Aug590430570360290

    15Sep580260570300240

    16Oct570290390400

    17Nov56080610180170

    18Dec5502105806090

    19Jan550250810180250

    20Feb54050710-20110

    21Mar5302908300170

    22Apr53070740-18030

    23May530801,0100250

    24Jun520-90910-190110

    Jul-06520860-320

    Aug5401,180-90

    Sep5601,170-170

    Oct5801,43010

    Nov6001,4900

    Dec6201,490-70

    Jan6401,890280

    Feb6601,800140

    Mar6802,190490

    Apr7002,090340

    May7202,360580

    Jun7362,470650

    Chart1

    390530510510

    410520480480

    430450580410

    450230330190

    470360450310

    490340400280

    510290330190

    530300330190

    550460460320

    570290280140

    590460430290

    613380320190

    60040060

    590430290

    580260240

    5702900

    56080170

    55021090

    550250250

    54050110

    530290170

    5307030

    53080250

    520-90110

    2004 SHA Fund Estimate

    May Forecast

    June Forecast

    September Forecast

    STATE HIGHWAY ACCOUNT CASH FORECAST($ in millions)

    24 month Graph

    FY 2004-05 Forecast Assumptions

    uMonthly cash balances for the Fund Estimate are averaged based on beginning and ending cash balances.

    uAssumes support expenditures as approved in the FY 2004-05 Budget Act.

    u$20 million payback from TCRF.

    uVote of $504 million in FY 2004-05

    uAssumes no votes beyond FY 2004-05.

    uAssumes Federal collection numbers as presented to the CTC in the May forecast.

    uDoes not assume early loan payback resulting from the renegotiation of tribal gaming compacts.

    Assumption Change from May ForecastAssumption Change from June Preliminary Forecast

    The May Forecast did not include a TCRF loan payback.$184 million payback from TCRF reduced to $20 million.

    uThe May Forecast assumed $1.9 B in allocationsuTechnical adjustments to timing of revenue receipts.

    uThe May Forecast did not include any Finance Letters, as they had not been approveduMinor adjustment to expenditures to reflect revised expenditure ratios.

    at the time the Forecast was created.uRemoval of expenditures in FY 2005-06 of one-time BCP that was inadvertently carried forward.

    &L&"Times New Roman,Regular"&16Caltrans Monthly Finance Report&R&"Times New Roman,Regular"&16Agenda Item 3.1September 15, 2004

    &C&"Times New Roman,Regular"&16Attachment 1

    24 month Graph

    390530510510

    410520480480

    430450580410

    450230330190

    470360450310

    490340400280

    510290330190

    530300330190

    550460460320

    570290280140

    590460430290

    613380320190

    60040060

    590430290

    580260240

    5702900

    56080170

    55021090

    550250250

    54050110

    530290170

    5307030

    53080250

    520-90110

    2004 SHA Fund Estimate

    May Forecast

    June Forecast

    September Forecast

    STATE HIGHWAY ACCOUNT CASH FORECAST($ in millions)

    Available Cash

    STATE HIGHWAY ACCOUNT

    Adjusted Cash Balance as of June 30, 2004

    ($ in millions)

    20022003

    JulAugSepOctNovDecJanFebMarAprMayJune20032004

    JULYAUGSEPOCTNOVDECJANFEBMARAPRMAYJUN

    Beginning Cash Balance (SHA & TRA)$1,173$908$787$739$699$499$703$236$236$407$538$205$658$344$115$569$404$267$388$507$264$556$818$607

    Add:Receipts for Month$366$470$726$748$447$789$496$437$694$758$556$596232348840289269533426151667679137432

    Less:Disbursements for Month$631$591$774$788$647$585$963$437$523$626$889$469(546)(577)(387)(454)(407)(412)(307)(394)(375)(417)(348)(567)

    Ending Cash Balance$908$787$7