The Virginia Department of Transportation's (VDOT) annual budget for Fiscal Year 2016 is $5.29 billion, representing a 21 percent increase from the previous year.
The growth over the previous year is primarily driven by the planned allocation of bonds, anticipated local and regional funding for VDOT administered projects and the additional revenue provided by the increased sales tax on gasoline that was effective in January 2015.
The annual budget is based on the most recent official state revenue forecast from March 2015 and estimated federal funding.
Funds that will be provided for highway maintenance and operations represent 38 percent of the total budget, followed by 37 percent for highway construction.
Smaller portions of the budget are directed to address the needs and requirements of debt service, support to other agencies, tolls, administration, and other programs.
$334.5 million – Debt service
$2.01 billion – Road maintenance (includes city and county street payments)
$495.7 million – Support to other agencies, tolls, administration and other programs
$483.5 million – Funding dedicated to Northern Virginia and Hampton Roads Regions for local and regional transportation projects
$1.959 billion – Construction
$5.29 billion – Total VDOT annual budget