CHAPTER 12
H.P. 852 - L.D. 1153
An Act To Make Allocations from Maine Turnpike Authority Funds for the Maine Turnpike Authority for the Calendar Year Ending December 31, 2004
Be it enacted by the People of the State of Maine as follows:
Sec. 1. Allocation. Gross revenues of the Maine Turnpike Authority for the calendar year ending December 31, 2004 must be segregated, apportioned and disbursed as designated in the following schedule.
2004
MAINE TURNPIKE AUTHORITY
Administration
Personal Services $647,731
All Other 1,014,520
__________
TOTAL 1,662,251
Accounts and Controls
Personal Services 580,611
All Other 289,710
__________
TOTAL 870,321
Highway Maintenance
Personal Services 3,269,135
All Other 2,268,140
__________
TOTAL 5,537,275
Equipment Maintenance
Personal Services 792,957
All Other 1,168,545
__________
TOTAL 1,961,502
Fare Collection
Personal Services 9,326,534
All Other 4,011,022
__________
TOTAL 13,337,556
Public Safety and Special Services
Personal Services 343,793
All Other 4,826,007
__________
TOTAL 5,169,800
Building Maintenance
Personal Services 552,258
All Other 528,590
__________
TOTAL 1,080,848
Subtotal of Line Items ___________
Budgeted 29,619,553
General Contingency -
5% of line items budgeted for 2004
(10% allowed) 1,480,978
MAINE TURNPIKE AUTHORITY __________
TOTAL REVENUE FUNDS $31,100,531
Sec. 2. Transfer of allocations. Any balance of an allocation for "General Contingency" made by the Legislature for the Maine Turnpike Authority may be transferred at any time prior to the closing of the books to any other allocation or subdivision of any other allocation made by the Legislature for the use of the Maine Turnpike Authority for the same calendar year. Any balance of any other allocation or subdivision of any other allocation made by the Legislature for the Maine Turnpike Authority that at any time is not required for the purpose named in the allocation or subdivision may be transferred at any time prior to the closing of the books to any other allocation or subdivision of any other allocation made by the Legislature for the use of the Maine Turnpike Authority for the same calendar year, subject to review by the joint standing committee of the Legislature having jurisdiction over transportation matters. Financial statements describing the transfer, other than a transfer from "General Contingency," must be submitted by the Maine Turnpike Authority to the Office of Fiscal and Program Review 30 days before the transfer is to be implemented. In case of extraordinary emergency transfers, the 30-day prior submission requirement may be waived by vote of the committee. These financial statements must include information specifying the accounts that are affected, amounts to be transferred, a description of the transfer and a detailed explanation as to why the transfer is needed.
Sec. 3. Encumbered balance at year-end. At the end of each calendar year, encumbered balances may be carried to the next calendar year.
Sec. 4. Supplemental information. As required by the Maine Revised Statutes, Title 23, section 1961, subsection 6, the following statement of the revenues in 2004 that are necessary for capital expenditures and reserves and to meet the requirements of any resolution authorizing bonds of the Maine Turnpike Authority during 2004, including debt service and the maintenance of reserves for debt service and reserve maintenance, is submitted.
2004
Turnpike Revenue Bond Resolution
Adopted April 18, 1991; Issuance
of Bonds Authorized Pursuant to
the Maine Revised Statutes, Title
23, section 1968, subsections 1 and 2.
Debt Service Fund $19,884,152
Reserve Maintenance Fund 14,000,000
General Reserve Fund, to be
applied as follows:
Capital Improvements 2,321,351
Debt Service Fund under the General Special Obligation Bond Resolution adopted May 15, 1996; issuance of bonds authorized pursuant to the Maine Revised Statutes, Title 23, section 1968, subsection
2-A. 2,466,290
__________
Effective September 13, 2003, unless otherwise indicated.
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