Browsing by Subject "Transportation finance"

Now showing 1 - 20 of 20

Common Standards for Reporting Financial Information for Transportation
(Minnesota Council on Transportation Access, 2015-08) Zhao, Jerry
The purpose of this document is to provide an overview of the common standards concept, describe the benefits of coordinating transportation services accounting, and to identify challenges to coordination, followed by recommendations for action. The goal of this research project was to develop a consistent method for multiple agencies to estimate, report, track, and record transportation-related costs, specifically: 1. Develop a common set of important terms and financial concepts that will identify categories for the chart of accounts. Not all state and local agencies use the same definition to describe their transportation services. 2. Identify a common set of data categories that agencies use to measure their transportation services. Specific categories and terms will lead to development of the chart of accounts. 3. Identify a common set of non-financial data measures/evaluation criteria for participating agencies. Standards may be different between the state and local agencies and data collection and analysis have different results and significance. The criteria will contribute to the chart of accounts.
Funding Surface Transportation in Minnesota: Past, Present and Prospects (Research Brief)
(Center for Transportation Studies, University of Minnesota, 2011-03) Zhao, Zhirong (Jerry); Das, Kirti Vardhan; Becker, Carol
This two-page document summarizes Funding Surface Transportation in Minnesota: Past, Present and Prospects (CTS 10-02), a study of funding for past transportation projects, current transportation funding challenges, and transportation funding options for the future.
Funding Surface Transportation in Minnesota: Past, Present, and Prospects
(Center for Transportation Studies, University of Minnesota, 2010-01) Zhao, Zhirong (Jerry); Das, Kirti Vardhan; Becker, Carol
Transportation systems play an imperative role in enhancing the productivity and the quality of life in the United States. The funding and financing of transportation is a complex process requiring joint efforts of federal, state, and local governments. To meet current and future transportation needs, policymakers must constantly assess the mechanism of transportation finance to ensure adequate and sustainable investment. In recent years, depleting state and local budgets and growing capital and maintenance costs related to transportation have been a common challenge. The state of Minnesota is estimated to have billions in unmet transportation needs to keep up with inflation and the increase in transportation demands. This report reviews the funding of public surface transportation systems (including highways, transit and local roads) in Minnesota. We look at how transportation projects have been funded, identify current and future policy issues likely to affect transportation funding, and go over some of the funding options suggested by other researchers. The aim is to encourage better understanding and management of issues related to transportation funding in Minnesota.
Harnessing Value for Transportation Investment: A Summary of the Study: Value Capture for Transportation Finance
(Center for Transportation Studies, University of Minnesota, 2009-06) Johns, Robert
This document summarizes findings from the Value Capture for Transportation Finance study conducted for the Minnesota Legislature. See also the report to the legislature (CTS 09-18S) at https://hdl.handle.net/11299/97658 as well as the technical research report (CTS 09-18) at https://hdl.handle.net/11299/97655.
Introduction to the Special Issue on Value Capture for Transportation Finance
(Journal of Transport and Land Use, 2012) Zhao, Zhirong Jerry; Levinson, David
This article introduces vol. 5, no. 1 issue of Journal of Transport and Land Use. This special issue includes 5 articles on value capture strategies used in transportation finance.
Joint development as a value capture strategy for public transit finance
(Journal of Transport and Land Use, 2012) Zhao, Zhirong Jerry; Das, Kirti Vardhan; Larson, Kerstin
Synthesizing relevant experiences in US and some Asian countries, this article reviews joint development as a value capture strategy for funding public transit. The review starts from the concept of joint development in transportation, its rationale, and the extent of use. We then provide a classification of joint development models with respect to ownerships and transaction methods. These models are illustrated with case examples from multiple countries. After that, we assess the efficacy of joint development with a set of criteria for transportation finance evaluation, including economic efficiency, social equity, revenue adequacy & sustainability, and political & administrative feasibility. Finally, we conclude and provide recommendations for policy consideration.
Minnesota Roadway Funding: Revenue Sources & Distribution
(Transportation Policy and Economic Competitiveness Program, University of Minnesota, 2020-07) Zhao, Jerry; Fonseca, Camila; Bean, Nate; Lari, Adeel
Minnesota roadway funding comes from a combination of federal, state, and local sources. Federal funding comes primarily from the federal motor fuel tax, while most state funding comes from the three state highway user taxes: the state motor fuel tax, the registration tax, and the motor vehicle sales tax. These funds support the state trunk highway system that includes interstates and state highways, in addition to providing aid to local governments. Local highway funding comes from general funds, made up primarily of property taxes and assessments, in addition to a few dedicated local transportation taxes. This revenue is used to support highways and streets under the jurisdiction of counties, cities, and townships. The network of highways and local roads is essential to the state's economy and the daily activities of Minnesota residents. Maintaining, expanding, and operating this infrastructure is a major expense for the state and local governments inside Minnesota. Generating sufficient revenue for highways and streets remains a major challenge, and recent revenue projections estimate a shortfall of $18 billion in necessary funding between 2018 and 2037, for the state highway system alone. Understanding Minnesota's road financing structure is important to anticipate and address future transportation changes. This report details federal, state, and local government funding for the roadway system in Minnesota. It explores how roadway funding is generated and distributed, as well as the history of current funding mechanisms. Statistics from the Minnesota Transportation Finance Database are used throughout this paper.
Minnesota Roadway Funding: Where Does It Come From and Where Does It Go? (Research Brief)
(Center for Transportation Studies, University of Minnesota, 2020-08) Transportation Policy and Economic Competitiveness Program
This two-page research brief summarizes the TPEC white paper Minnesota Roadway Funding: Revenue Sources & Distribution, which is available at https://hdl.handle.net/11299/253534.
Minnesota Transportation Finance Database (Research Brief)
(Center for Transportation Studies, University of Minnesota, 2017-04) Transportation Policy and Economic Competitiveness Program
This two-page research brief describes the Minnesota Transportation Finance Database created by TPEC researchers.
Minnesota Transportation Finance Database: Data Updated, New Analyses (Research Brief)
(Center for Transportation Studies, University of Minnesota, 2018-06) Transportation Policy and Economic Competitiveness Program
This two-page research brief summarizes a new analysis of transportation funding redistribution in Minnesota, which resulted in updating the Minnesota Transportation Finance Database. It corresponds to Minnesota Transportation Funding Redistribution (2010-2015): Who Contributes More and Who Receives More?
Minnesota Transportation Finance Database: Visualization Tool Enables Access and Usage (Research Brief)
(Center for Transportation Studies, University of Minnesota, 2019-02) Transportation Policy and Economic Competitiveness Program
This two-page research brief describes a data visualization tool added to the Minnesota Transportation Finance Database.
Minnesota Transportation Funding Redistribution (2009-2014): Who Contributes More, Who Receives More?
(Transportation Policy and Economic Competitiveness Program, University of Minnesota, 2017-03-04) Zhao, Jerry; Lari, Adeel; Lou, Shengnan
The focus of this analysis is the redistribution of transportation funding across Minnesota. Transportation funding comes from all levels of government – the federal government, the state government, and local governments that include counties, cities, and townships. Transportation funding that are directly generated by local taxes and fees are used in corresponding local jurisdictions. Federal or state transportation funding – generated through a variety of federal or state revenue sources – are also contributed by people in local jurisdictions, but these revenues are allocated through certain budgetary procedures and may or may not be used in the original point of collection. Hence are the questions of transportation funding redistribution: What are the areas that contribute more to transportation funding? What are those that receive more? What are the areas that contribute more than they receive, or verse versa? Those are empirical questions to be answered in this report, for the purpose to facilitate informed decision making.
Minnesota Transportation Funding Redistribution (2010-2015): Who Contributes More and Who Receives More?
(Transportation Policy and Economic Competitiveness Program, University of Minnesota, 2018-03) Zhao, Jerry; Lari, Adeel; Fonseca, Camila
The focus of this analysis is the redistribution of transportation funding across Minnesota. Transportation funding comes from all levels of government – the federal government, the state government, and local governments that include counties, cities, and townships. The redistribution of transportation funding arises the following questions: What areas contribute the most to transportation funding? What areas receive more funding? What areas contribute more than what they receive? Or verse versa. This report aims to answer these empirical questions with the purpose of facilitating informed decision making. In this report, we aggregate or allocate data to the county level for analysis and then present the aggregated results at the district level for a six-year period, between 2010 and 2015. We found that local governments fund a huge proportion of the transportation infrastructure in Minnesota, primarily through the property taxes they collect. The Twin Cities metro district contributes slightly more than what it receives. In addition, this district receives the largest share of funding for transit services. Districts in Greater Minnesota receive more funding that they contribute, mainly due to lower population density. Finally, we found a cost of 7 cents per vehicle mile traveled in the state. This cost tends to be much higher in counties located in the north.
Minnesota Transportation Funding Redistribution (2015-2020): Who Contributes More and Who Receives More?
(Transportation Policy and Economic Competitiveness Program, University of Minnesota, 2022-04) Fonseca, Camila; Zeerak, Raihana; Zhao, Jerry; Lari, Adeel
The focus of this analysis is the redistribution of transportation funding across Minnesota. Transportation funding comes from all levels of government – the federal, the state, and local governments that include counties, cities, and townships. The redistribution of transportation funding arises the following questions: What areas contribute the most to transportation funding? What areas receive more funding? What areas contribute more than what they receive? Or vice versa. This report aims to answer these empirical questions with the purpose of facilitating informed decision making. In this report, we aggregate or allocate data to the county level for analysis and then present the aggregated results at the district level for a six-year period, between 2015 and 2020. We found that local governments fund a huge proportion of the transportation infrastructure in Minnesota, primarily through the property taxes they collect. The Metro District contributes slightly more than what it receives. In addition, this district receives the largest share of funding for transit services. Districts in Greater Minnesota receive more funding that they contribute, mainly due to lower population density. Finally, we found a cost of 8.7 cents per vehicle mile traveled in the state. This cost tends to be much higher in counties located in the north.
Minnesota Transportation Funding Redistribution: 2015–2020 (Research Brief)
(Center for Transportation Studies, University of Minnesota, 2022-07) Transportation Policy and Economic Competitiveness Program
This two-page research brief summarizes a recent analysis of transportation funding redistribution in Minnesota that looked at the six-year period between 2015 and 2020 (Minnesota Transportation Funding Redistribution (2015-2020): Who Contributes More and Who Receives More?).
Minnesota Transportation Funding: How Are Federal and State Funds Redistributed? (Research Brief)
(Center for Transportation Studies, University of Minnesota, 2019-02) Transportation Policy and Economic Competitiveness Program
This two-page research brief summarizes how federal and state transportation funding is redistributed in Minnesota.
Motorization Trends In Minnesota
(Center for Transportation Studies, University of Minnesota, 2023-06) Fonseca, Camila; Zeerak, Raihana; Lari, Adeel; Zhao, Jerry
The analysis of motorization trends in the state of Minnesota is important because it reveals changes in driving behavior that impact transportation planning and funding across the state. Changes in traveling habits have implications for transportation revenue streams in Minnesota, particularly for roadway infrastructure investment. This report presents an analysis of motorization and highway and roadway funding trends in Minnesota between 1980 and 2021. Key motorization patterns include the number of registered vehicles, vehicle miles traveled (VMT), fuel consumption, and vehicle crashes. In addition, this report analyses the evolution of roadway revenues and expenses at the federal, state, and local levels. The analysis in this report includes an overview of the general trends for the state as well as an overview of the changes by county. Data for the analysis come from the Minnesota Transportation Finance Database. The report has several interesting findings about motorization in Minnesota. For instance, the number of registered vehicles has continually increased since 1980, although it has slowed since the 2000s. However, the number of registered vehicles per capita and per county indicate significant declines in recent years. Similarly, the number of alternative fuel vehicles, particularly electric vehicles (EVs), has been increasing. Distance traveled, measured by VMT, and fuel consumption increased, although their per capita measures have also decreased, particularly since 2020. Lastly, while overall the number of vehicle crashes has declined since 2004, the number of fatal crashes rose significantly in 2021. Overall, Minnesota's trends are consistent with the national pattern. The persistence of these trends in the future will have consequences in future roadway funding. In particular, fuel consumption and its long-term declines due to increases in fuel efficiency standards could cause continuous revenue reductions unless the state roadway funding structure is adjusted.
Motorization Trends in Minnesota
(Center for Transportation Studies, University of Minnesota, 2019-02) Zhao, Jerry; Lari, Adeel; Fonseca, Camila; Bean, Nate
The analysis of motorization trends in the state of Minnesota is important because it reveals changes in driver behavior that impact transportation planning and funding across the state. Changes in traveling habits have implications for transportation revenue streams in Minnesota, particularly for roadway infrastructure investment. This report presents an analysis of motorization and highway and roads funding trends in Minnesota between 1980 and 2016. Key motorization patterns include the number of registered vehicles, vehicle miles traveled (VMT), and fuel consumption. In addition, this report analyses the evolution of roadway revenues and expenses at the federal, state, and local levels. The analysis in this report includes an overview of the general trends for the state as well as an overview of the changes by county. Data for the analysis come from the Minnesota Transportation Finance Database. The report has several interesting findings about motorization in Minnesota. For instance, the number of registered vehicles has continually increased since 1980, although it has slowed since the 2000s. Over the same period of time, distance travelled, measured by VMT, and fuel consumption increased, although their per capita measures have been decreasing. Overall, Minnesota?s trends are consistent with the national pattern. The persistence of these trends in the future will have consequences in future roadway funding. In particular, fuel consumption and its long term declines due to increases in fuel efficiency standards could cause continuous revenue reductions unless the state roadway funding structure is adjusted.
Value Capture for Transportation Finance: Report to the Minnesota Legislature
(Center for Transportation Studies, University of Minnesota, 2009-06) Iacono, Michael; Levinson, David; Zhao, Zhirong (Jerry); Lari, Adeel
As vehicles become more fuel-efficient and overall levels of travel stagnate in response to increases in fuel prices, conventional sources of revenue for transportation finance such as taxes on motor fuels have been put under increasing pressure. One potential alternative as a source of revenue is a set of policies collectively referred to as value capture policies. In contrast to fuel taxes and other instruments that impose charges on users of transportation networks, value capture policies seek to generate revenue by extracting a portion of the gains in the value of land that result from improvements to transportation networks. In this report we identify a set of eight policies that contain elements of the value capture approach. These policies include land value taxes, tax increment financing, special assessments, transportation utility fees, development impact fees, negotiated exactions, joint development, and air rights. We evaluate each of the policies according to four criteria: 1) efficiency, which relates to how well the policies allocate scarce resources, 2) equity, which describes the fairness of resource allocation among different strata of society, 3) sustainability, which refers to the ability of the policy to serve as an adequate, reliable source of transportation revenue, and 4) feasibility, which refers to the degree of political and administrative difficulty associated with each policy. Since these policies are targeted toward use at the state and local level in Minnesota, we conclude by examining some legal and administrative issues related to the implementation of each policy with special reference to Minnesota.
Value Capture for Transportation Finance: Technical Research Report
(Center for Transportation Studies, University of Minnesota, 2009-06) Lari, Adeel; Levinson, David; Zhao, Zhirong (Jerry); Iacono, Michael; Aultman, Sara; Vardhan, Das; Junge, Jason; Larson, Kerstin; Scharenbroich, Michael
As vehicles become more fuel-efficient and overall levels of travel stagnate in response to increases in fuel prices, conventional sources of revenue for transportation finance such as taxes on motor fuels have been put under increasing pressure. One potential alternative as a source of revenue is a set of policies collectively referred to as value capture policies. In contrast to fuel taxes and other instruments that impose charges on users of transportation networks, value capture policies seek to generate revenue by extracting a portion of the gains in the value of land that result from improvements to transportation networks. In this report we identify a set of eight policies that contain elements of the value capture approach. These policies include land value taxes, tax increment financing, special assessments, transportation utility fees, development impact fees, negotiated exactions, joint development, and air rights. We evaluate each of the policies according to four criteria: 1) efficiency, which relates to how well the policies allocate scarce resources, 2) equity, which describes the fairness of resource allocation among different strata of society, 3) sustainability, which refers to the ability of the policy to serve as an adequate, reliable source of transportation revenue, and 4) feasibility, which refers to the degree of political and administrative difficulty associated with each policy. Since these policies are targeted toward use at the state and local level in Minnesota, we conclude by examining some legal and administrative issues related to the implementation of each policy with special reference to Minnesota.

University Digital Conservancy

Browse by Subject

Browsing by Subject "Transportation finance"