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' FINAL 2008-2011 STATEWIDE TRANSPORTATION nVIPROVEMENT PROGRAM <br />FINANCIAL PLAN <br />This information is provided to demonstrate compliance with the SAFETEA-LU (and relevant <br />preceding acts) requirement that the STIP be financially constrained. The projects identified in <br />this document are funded through existing sources of revenue in amounts currently available or <br />reasonably anticipated. No new sources of revenue are required to implement this program. <br />Following the financial plan is a detail report that compares target values given in the projected <br />revenue tables to our expected future programming levels for projects. Following the financial <br />plan and the detail report is a listing of projects that were in the 2006-2009 STIP, but are not in <br />the 2008-2011 STIP, and the status of those projects. <br />REVENUE SOURCES <br />Federal Funding <br />The primary sources of revenue identified for this portion of the program are those available <br />through the Federal Highway Administration (FHWA), Federal Transit Administration (FTA), <br />and National Highway Traffic Safety Administration (NHTSA). Revenue projections are pro- <br />vided under the section titled Federal Revenue. The federal amounts reflected in these tables are <br />those projected to be apportioned (with limitation applied), in addition to the funds remaining in <br />balance. The annual targets reflect the amounts projected to be obligated annually. The projec- <br />tions are based on levels currently available under existing law, and are assumed to remain at <br />that same level through 2011. <br />The estimated cost identified for projects listed under federal fund categories reflects that portion <br />of the project financed at the maximum federal share requirement. Where other federal, local, or <br />state funding maybe involved in financing the project, the project will also be found listed under <br />those fund categories with an estimated amount attributed to each funding program. The aggre- <br />gate of all estimated costs in the financial plan is consistent with the estimated total cost reflected <br />in the STIP listing of projects. <br />State <br />The primary sources of revenue to support the state transportation program are fuel taxes, <br />weight-mile taxes, vehicle registration and driver license fees, cigarette taxes, and bond reve- <br />nues. The projected revenues generated from these sources are adequate to support this program. <br />Local Government: Non-Metropolitan Areas <br />The match required for local government projects funded through federal bridge and safety pro- <br />grams, in addition to any other local contributions to cooperatively funded federal-aid projects, is <br />committed to each project prior to inclusion in the STIP. Binding project finance agreements are <br />executed for all such projects prior to the obligation of funding for any phase of a project. <br />Page 400 <br />