CHAPTER 35
H.P. 1349 - L.D. 1825
An Act To Make Allocations from Maine Turnpike Authority Funds for the Maine Turnpike Authority for the Calendar Year Ending
December 31, 2005
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, 2005 must be segregated, apportioned and disbursed as designated in the following schedule.
MAINE TURNPIKE AUTHORITY 2005
Administration
Personal Services $744,523
All Other 1,215,783
__________
Total $1,960,306
Accounts and Controls
Personal Services $636,411
All Other 336,942
__________
Total $973,353
Highway Maintenance
Personal Services $3,526,257
All Other 2,522,859
__________
Total $6,049,116
Equipment Maintenance
Personal Services $875,614
All Other 1,316,258
__________
Total $2,191,872
Fare Collection
Personal Services $10,183,307
All Other 4,423,051
___________
Total $14,606,358
Public Safety and Special Services
Personal Services $375,338
All Other 5,347,257
__________
Total $5,722,595
Building Maintenance
Personal Services $606,751
All Other 571,800
___________
Total $1,178,551
Subtotal of Line Items Budgeted $32,682,151
General Contingency - 5.05% of line
items budgeted for 2005 (10% allowed) 1,651,908
MAINE TURNPIKE
AUTHORITY ___________
TOTAL REVENUE FUNDS $34,334,059
Sec. 2. Transfer of allocations. Any balance of the 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 2005 that are necessary for capital expenditures and reserves and to meet the require-ments of any resolution authorizing bonds of the Maine Turnpike Authority during 2005, including debt service and the maintenance of reserves for debt service and reserve maintenance, is submitted.
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-A.
2005
Debt Service Fund $19,947,304
Reserve Maintenance Fund 16,000,000
General Reserve Fund, to be
applied as follows:
Capital Improvements (3,373,887)
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
2,463,803
__________
Effective July 30, 2004, unless otherwise indicated.
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