Budgeting and Appropriations | Annual budget; fiscal year begins July 1. Unusually, the Legislature develops a budget completely separately from the governor's. |
Bonding or Pay-as-You-Go | Combination of bonding and pay-as-you-go financing. All bond financing must be authorized by the Legislature in a bill or joint resolution. |
State-Level Funding Provided for DOT Budgets | FY 2011 (approved): $592.6 million |
Allocation of Federal Transportation Funds to the DOT | Federal transportation funds flow directly to ODOT from the U.S. DOT, with no state legislative involvement. |
Allocation of State Transportation Funds to the DOT | A portion of fuel tax and motor vehicle fee revenues are apportioned to the State Transportation Fund directly. A maximum amount of expenditure in a fiscal year is authorized by the Legislature at the program or category level. In addition, legislation enacted in 2005 annually increases funding to ODOT through the newly created "ROADS" Fund, whereby each year $30 million is added to the previous year's apportionment until the annual amount reaches $370 million. This money comes from the general fund as authorized by the State Board of Equalization. |
Traditional State Funding and Finance for Highways | Fuel taxes; vehicle registration/license/title fees; general funds; revenue bonds. |
State Funding and Finance for Other Modes | Transit: Fuel taxes; general funds. Rail: $2 million per year from the "ROADS" fund created in 2005. Aviation: Aviation fuel tax; aircraft registration fees and taxes. |
Innovative Transportation Funding and Finance | GARVEE bonds; toll credits or "soft match." |
Dedicated/Restricted State Funds and Revenues | State statute apportions gasoline tax receipts to the State Transportation Fund, the High Priority State Bridge Revolving Fund, the Public Transit Revolving Fund, the Oklahoma Tourism and Passenger Rail Revolving Fund and local entities (Okla. Stat. Ann. tit. 68, §500.6). State statute dedicates use of all money accruing to the credit of the State Transportation Fund-including gasoline tax and other revenues-to construction, repair and maintenance of state highways, other transportation systems and such other transportation purposes as the Legislature may authorize (Okla. Stat. Ann. tit. 15, §1501.1). State statute also dedicates the use of the Public Transit Revolving Fund (Okla. Stat. Ann. tit. 69, §§4031 et seq.) and the Oklahoma Tourism and Passenger Rail Revolving Fund (Okla. Stat. Ann. tit. 66, §325) as well as the Oklahoma Aeronautics Commission Revolving Fund, which receives revenues from aircraft fuel taxes and registration fees (Okla. Stat. Ann. tit. 3, §91). |
DOT Authorized to Retain Surplus Funds | Yes. ODOT is authorized to retain any excess funds. All appropriations and authorizations are subsequently transferred to various revolving funds within ODOT, making them non-fiscal. However, the maximum amount per year of expenditure from the State Transportation Fund is legislatively authorized. |
Legislative Approval Required to Move Funds Between Projects | No legislative approval is required. |
Transportation Funding Allocations through Local Aid | A percentage of motor fuel taxes is distributed to counties and incorporated cities and towns by statutory formulas based on road mileage, population, area and/or other formulas developed by ODOT and approved by the DOT County Advisory Board. Funds allocated to cities and towns must be used for construction, repair and maintenance of streets and alleys. Funds allocated to counties must be used to construct and maintain county highways and bridges and cannot be diverted (Okla. Stat. Ann. tit. 68, §500.6). |