CHAPTER 29
H.P. 957 - L.D. 1271
An Act Regarding the Budget for the Maine Turnpike Authority for 2002
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, 2002 must be segregated, apportioned and disbursed as designated in the following schedule.
2002
MAINE TURNPIKE AUTHORITY
Administration
Personal Services $623,819
All Other 985,921
__________
TOTAL 1,609,740
Accounts and Controls
Personal Services 552,204
All Other 261,439
__________
TOTAL 813,643
Highway Maintenance
Personal Services 3,168,112
All Other 2,093,818
__________
TOTAL 5,261,930
Equipment Maintenance
Personal Services 766,932
All Other 1,057,069
__________
TOTAL 1,824,001
Fare Collection
Personal Services 8,841,528
All Other 3,580,840
__________
TOTAL 12,422,368
Public Safety and Special Services
Personal Services 328,778
All Other 4,773,074
__________
TOTAL 5,101,852
Building Maintenance
Personal Services 543,253
All Other 465,082
__________
TOTAL 1,008,335
__________
Subtotal of Line Items Budgeted 28,041,869
General Contingency -
5% of line items budgeted for 2002
(10% allowed) 1,402,094
MAINE TURNPIKE AUTHORITY __________
TOTAL REVENUE FUNDS $29,443,963
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 2002 that are necessary for capital expenditures and reserves and to meet the requirements of any resolution authorizing bonds of the Maine Turnpike Authority during 2002, including debt service and the maintenance of reserves for debt service and reserve maintenance, is submitted.
2002
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 $17,346,050
Reserve Maintenance Fund 18,000,000
General Reserve Fund, to be
applied as follows:
Capital Improvements 91,981
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.
2,468,085
__________
TOTAL $37,906,116
Effective September 21, 2001, unless otherwise indicated.
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