This Week at the NCDOT for 11-12-2021

After a long hiatus, Macon Media is once again sharing the weekly NCDOT report on their activities as released in their NCDOT Now video, the "This Week at the NCDOT" press release, and the weekly "Cash Watch Report." These reports are presented as is with no commentary so members of the public can make up their own minds about the contents. Most news outlets will be using these press releases to write stories without crediting the material as having come from press releass.

 

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RALEIGH – The following are highlights from this week at the N.C. Department of Transportation. The stories below are also featured in NCDOT Now, the department's weekly newscast.

Fallen Highway Troopers Honored in Fayetteville

On Nov. 8, agency officials joined the families of two fallen state troopers to dedicate a set of bridges on I-95 in Cumberland County in their honor.  

The two bridges were dedicated to Trooper John H. Duncan Jr. and Trooper Damion C. Roberts. Duncan was killed in 2001, and Roberts died in 1996 while protecting the citizens of Cumberland County.  

Speakers at the event included Col. Freddy Johnson Jr., the State Highway Patrol Commander, retired Sgt. Chris Williams of the Department of Public Safety, and Grady Hunt, the area representative on the North Carolina Board of Transportation. 

Elon Drone Day

Elon University’s School of Communications recently partnered with NCDOT and others to host Elon Drone Day.  

The daylong program answered questions regarding regulations, safety and overall use of drones, as well as tracking trends in the industry. Speakers at the event included Federal Aviation Administration safety officials, NCDOT aviation leaders, drone delivery specialists, video storytellers and other experts. There were also displays and activities for those in attendance.

For more information on drones in North Carolina, visit NCDOT's drone webpage. 

NCDOT's Weekly Cash Watch Report
 

RALEIGH – To be open and transparent and to comply with Session Law 2019-251 of the N.C. General Assembly, the N.C. Department of Transportation will issue a news release each Friday publishing the weekly “NCDOT Cash Watch Numbers” report, which is a snapshot of NCDOT expenditures.

For holidays when NCDOT offices are closed, the release and report will be published on the closest business day.

Each report opens with what the combined cash balance was in the preceding report. The report includes receipts; a list of disbursements in broad categories; and ending combined cash balance. In addition, the report includes a snapshot of “reserved cash” balances. These funds are dedicated to specific projects and are held in what is called a “Trustee Account” until they are disbursed to pay for work completed on projects funded with Build NC bonds, GARVEE bonds or Energy Savings-Roadway lighting funds. 

Cash balance fluctuates from day to day as revenue comes in and disbursements are made. The official monthly cash balance is determined at the close of each month as line items are reconciled. Weekly balances are not indicative of what the final monthly cash balance will be. 

Cash Watch Weekly Report

Week of November 4 - 11

Total Cash and Bond Proceeds (1) 2,745,096,500

Beginning Highway Fund (10) 1,088,840,487

Beginning Highway Trust Fund 979,387,606

Beginning Reserved Cash Balance 676,868,407

Add Receipts 80,544,741

Federal Receipts 39,484,375

Federal Receipts (Declared Disaster Reimbursements)

Other 41,060,366

Less Disbursements:

Payroll (2) 29,288,246

Debt Service (3)

STI Construction 53,470,450

Operations (4) 35,118,467

Map Act Claims/Settlements 566,925

State Aid Payments (5) 9,861

Disaster Related Costs 2,440,575

Modal (6) 2,181,910

Other (7) 9,231,121

Reserved Cash:

GARVEE/Federal Repayment Reserve (8) -

Transportation Emergency Reserve 125,000,000

Trustee Accounts:

Unexpended Build NC Bond Proceeds 185,944,211

Unexpended GARVEE Bond Proceeds 365,764,563

Energy Savings-Roadway Lighting (9) 163,735

Loan Repayment (13):

Highway Fund (40,000,000)

Trust Fund 40,000,000

Unreserved Cash Balance Total

Ending Combined Cash Balance 2,016,432,473

Ending Highway Fund (10) 1,003,227,839

Ending Highway Trust Fund 1,013,204,634

Statutory Cash Minimum Floor (11) 267,322,500

Statutory Cash Target -15% (12) 534,645,000

Statutory Cash Target - 20% (12) 712,860,000

At the end of October 2021, open commitments totaled $6,390M and cash as % of this total was 33%.

(1) Balance includes Highway Fund and Highway Trust Fund cash available

 plus Reserved Cash held by Trustee and not available to spend at this time.

(2) Includes permanent and some temporary employees; disbursed every other week.

(3) Monthly advanced payments to Trustee per Build NC Bond Official Statement.

 Also includes GARVEE and General Obligation Bond Debt Service payments.

(4) Highway maintenance and small construction

(5) Powell Bill payments to municipalities; disbursed twice per year- G.S. 136-41.1

(6) Program funds for Ferry, Public Transportation, Aviation and Rail

(7) Administration, transfers to other agencies, Governor's Highway Safety Program, facilities, etc.

(8) One year of debt service

(9) 2017 bonds for installation of energy efficient lighting along roadways.

(10) Consistent with historical reporting practices, Highway Fund cash balance amount

 includes $33.7 million of cash-in-transit

(11) G.S. 143C-6-11(f)

(12) G.S. 143C-6-11(k)(1)

(13) Remaining balance of loan is $440.3M

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Published at 11:30pm on Friday, November 12, 2021