Governor approves VDOT’s plan to allocate $1.4 billion in unspent funds for roads
- November 9, 2010
A game plan for more than $1 billion in unspent funds for road projects in Virginia is now in place. Gov. Bob McDonnell approved a plan Tuesday proposed by the Virginia Department of Transportation (VDOT) that addresses problems raised by an independent audit in September.
The audit found hundreds of millons of dollars in several accounts that hadn’t been touched in years. About $400 million in construction and maintenance accounts was untapped while more than $600 million in federal money had never been allocated to projects.
“VDOT met the deadline to develop a comprehensive action plan to improve its business practices and ensure that its past failures to fully utilize all available transportation funding do not reoccur,” the governor said in a statement.
VDOT’s plan splits the pie into these slices:
• $200 million in excess construction cash will go immediately for maintenance projects statewide and will be administered by the Commonwealth Transportation Board (CTB)
• $524 million in the “federal reserve” will be allocated to specific projects by the CTB during the spring 2011 update to the state’s six-year transportation improvement program
• $200 million in unspent maintenance allocations will be provided to VDOT’s nine districts to meet critical maintenance needs
• $130 million in inactive federal project balances already allocated to projects will be re-obligated to other active projects in coordination with localities
• $400 million in toll credits will be allocated to specific projects by the CTB as a state match to federal projects.
The plan responds to more than 50 audit findings and is designed to make VDOT more effective. Said Secretary of Transportation Sean Connaughton “Virginia’s transportation challenges require us to find better ways of doing business and managing the taxpayer’s dollars. This performance audit and implementation of VDOT’s action plan will have an immediate impact on our economy and a lasting effect on Virginia’s transportation infrastructure.”
The action plan includes target dates and updates will be posted online at http://www.VirginiaDOT.org and www.ctb.virginia.gov. The complete plan can be found at: http://www.virginiadot.org//news/resources/Statewide/Performance_Audit_Action_Plan.pdf