Tab 8 (Ref 3.6)

1Division of Budgets

Department of TransportationDepartment of TransportationQuarterly Finance ReportQuarterly Finance Report

Second QuarterSecond Quarter2007-082007-08

Presented to thePresented to theCalifornia Transportation California Transportation

CommissionCommissionMarch 2008March 2008

Tab 54 Ref 3.6

2

Ending Cash BalanceEnding Cash BalanceActuals vs. ForecastActuals vs. Forecast

State Highway Account $283M (49% below forecast) Timing differences Fund adjustmentsPublic Transportation Account $132M (32% above forecast) Lower expenditures

Traffic Congestion Relief Fund $651M (15% below forecast) Proposition 1A repayment did not occur Higher year-to-date expenditures

Transportation Investment Fund $264M (26% above forecast) Lower year-to-date expenditures

Transportation Deferred $427M (22% above forecast)Investment Fund

Lower year-to-date expenditures

3

2007-08 Allocation Capacity2007-08 Allocation Capacity

Funds SHOPP STIP TCRP Bonds TotalState Highway Account $1,850 $65 $0 $0 $1,915Public Transportation Account 0 475 0 0 $475Transportation Investment Fund 0 520 0 0 $520Transportation Deferred Investment Fund 0 32 0 0 $32Traffic Congestion Relief Fund 0 0 303 0 $303

Fund Subtotal: $1,850 $1,092 $303 $0 $3,245 Bonds

CMIA (6055) 0 0 0 594 $594STIP (6058) 0 664 0 0 $664Intercity Rail (6059) 0 0 0 187 $187Local Seismic (6062) 0 0 0 14 $14Grade Separations (6063) 0 0 0 123 $123SHOPP (6064) 1 382 0 0 0 $382Highway 99 (6072) 0 0 0 6 $6

Bond Subtotal: $382 $664 $0 $924 $1,970 Grand Total: $2,232 $1,756 $303 $924 $5,215

1 SHOPP (6064) includes budget authority of $123M reserved for Local Assistance (Traffic Light Synchronizing).

2007-08 Allocation CapacityBy Fund and Program

($ millions)

4

Allocation vs. Allocation CapacityAllocation vs. Allocation CapacityBy ProgramBy Program

53 percent of capacity allocated through second quarter53 percent of capacity allocated through second quarter

2007-08Program & Year-to-Date Allocations Allocation CapacityState Highway Operations & Protection (SHOPP)* $2.232B $919M allocated YTD $206M allocated in Q2 $1.313 unallocated

State Transportation Improvement Program (STIP)* $1.756B $1.396B allocated YTD $306M allocated in Q2 $360M unallocated

Traffic Congestion Relief Program (TCRP) $303M $292M allocated YTD $171M allocated in Q2 $13M unallocated

Proposition 1B (other bonds) $924M $139M allocated YTD $785M unallocated* Includes bond capacity for STIP & SHOPP

5

Outlook for FundingOutlook for Funding

State Highway Account $100M from TCRF for SHOPP in 2008-09 (Tribal Gaming revenue) Possible FHTF deficit by 2009

Public Transportation Account Slightly lower revenues Temporary loan from TCRF Impact of $409 million lawsuit ruling

Transportation Investment Fund 2008-09 Prop 42 transfer slightly lower Severe impacts if Prop 42 transfer is suspended

Traffic Congestion Relief Fund $1.5B owed by General Fund at end of 2007-08 $83M per year Prop 42 GF repayment $100M per year Pre-Prop 42 repayment Prop 42 debt repayment schedule delays TCRP completion

6

Maintain Current 2007-08 Allocation Capacity

Monitor Federal Funding Outlook

RecommendationsRecommendations

Tab 72 (Ref 3.8)

7Division of Budgets

QuestionsQuestions