The Virginia Department of Transportation's (VDOT) annual budget for Fiscal Year 2013 is $4.19 billion, representing a 12 percent decrease from the previous year. The decrease is largely driven by the GARVEE bonds programmed in Fiscal Year 2012.
It is based on the December 2011 official state transportation revenue forecast with updates based on actions of the General Assembly.
VDOT’s revenues are provided by dedicated state and federal revenue sources.
The VDOT budget includes the proceeds and related allocations of the VDOT’s portion of the bonds planned to be issued in Fiscal Year 2013 related to Gov. Bob McDonnell’s Omnibus Transportation Funding Bill.
The planned bond proceeds are from the third of three planned $600 million Capital Projects Revenue issues. The bond proceeds will support projects identified in the Six-Year Improvement Program.
Funds that will be provided for highway maintenance and operations represent 44 percent of the total budget, followed by 38 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.
$300 million - Debt service
$1.830 billion - Road maintenance (includes city and county street payments)
$449.7 million - Support to other agencies, tolls, administration and other programs
$1.605 billion - Construction
$4.19 billion - total VDOT annual budget
- VDOT's budget reports
- VDOT organization
- Virginia's highway system
- VDOT history highlights
- Other transportation services
- Virginia Center for Transportation Research & Innovation