Massachusetts Department of Transportation
Statement of Sources and Uses
Report ID: BUD-001B-Capital
Run Date: 04/11/2013
For the Fiscal Year 2013 Period Ending March 31, 2013
Capital Budget
(000's = Thousands)
July - March
SOURCES
YTD Actual
SOURCES
Restricted Non-Toll Road Sources
Special Obligation Debt (Gas Tax, ABP)
Grant Anticipation Notes (GANS)
General Obligation Debt (GO Debt)
Federal Reimbursement - Highway
Federal Reimbursement - OPP
Federal Railroad Admin. Reimbursement
Transportation Infrastructure Fund
Defeased Debt (Chapter 27 Non-budgetary)
Total Restricted Non-Toll Road Sources
TOTAL SOURCES
YTD Budget
USES
Variance
%
YTD Actual
204,332
411,536
205,457
568,865
(1,125)
(157,329)
1%
0%
28%
277,645
16,094
16,353
14,347
940,307
306,097
17,087
31,450
1,128,956
(28,451)
(993)
(15,097)
14,347
188,649
9%
6%
0%
48%
100%
17%
940,307
1,128,956
188,649
17%
USES
AERONAUTICS
Employee Payroll and Benefits
Materials, Supplies, Services
Office and Administrative Expenses
Construction and Maintenance
Grants, Subsidies, Contract Assistance
Total Aeronautics
HIGHWAY
Employee Payroll and Benefits
Materials, Supplies, Services
Office and Administrative Expenses
Construction and Maintenance
Grants, Subsidies, Contract Assistance
Total Highway
RAIL AND TRANSIT
Employee Payroll and Benefits
Materials, Supplies, Services
Office and Administrative Expenses
Construction and Maintenance
Grants, Subsidies, Contract Assistance
Total Rail and Transit
OFFICE OF THE SECRETARY
Employee Payroll and Benefits
Materials, Supplies, Services
Office and Administrative Expenses
Construction and Maintenance
Grants, Subsidies, Contract Assistance
Total Office of the Secretary
TOTAL USES
This report is presented on the cash basis of accounting. See accompanying notes for further information.
YTD Budget
Variance
%
333
157
3
334
88
3
1
(69)
()
0%
-79%
-2%
166
8,942
9,601
222
10,676
11,322
56
1,734
1,722
25%
16%
15%
105,260
26,227
7,023
536,428
112,007
786,946
108,802
29,584
9,549
667,386
116,350
931,672
3,543
3,357
2,526
130,958
4,342
144,726
3%
11%
26%
20%
4%
16%
171
137
2
76,536
10,094
86,941
2,149
110,991
18,141
131,281
(171)
2,012
(2)
34,455
8,047
44,340
0%
94%
0%
31%
44%
34%
18,259
1,543
16,548
11,889
8,581
56,820
10,896
3,098
18,824
6,919
14,944
54,680
(7,362)
1,554
2,276
(4,970)
6,363
(2,140)
-68%
50%
12%
-72%
43%
-4%
940,307
1,128,956
188,648
17%
Massachusetts Department of Transportation
FY 2013 Third Quarter Report (July to March)
Statement of Capital Sources and Uses
SUMMARY
The attached Statement of Capital Sources and Uses for the period ending March 31, 2013 details line
item variances which have resulted in a capital budget under-spend of $188.6 million. It should be
noted that the Uses variances are what drive the Sources variances. As such, we direct your attention to
the Uses of capital for more fulsome explanations for the under-spend.
NOTE: Each variance equal to or greater than 5% of budget AND is of a magnitude of $5 million or more
is explained below:
Highway Division
Construction and Maintenance:
Construction and Maintenance spending is $130.9 million or 20% under budget at the end of the third
quarter due to a late start in advertising projects. This is due to the delay of the 2012 Transportation
Bond Bill (TBB), as contractors couldn’t bid on contracts without evidence of capital funding
authorization which is embodied in the TBB. Also, a number of our larger construction projects are at
the completion phase, thus not requiring as much in expenditures as in prior quarters. This trend will
continue through the remainder of the fiscal year leaving a budget balance under-spend of $139.7
million.
Rail and Transit Division
Construction and Maintenance
Construction and Maintenance spending is $34.4 million or 31% under budget due to timing delays for
South Station expansion and renovation, Knowledge Corridor Rail project between Hartford and Canada,
the Beverly and Salem Garages, and the Green Line Extension to Medford. The Rail and Transit Division
anticipates that spending will escalate in the fourth quarter of the fiscal year.
Grants, Subsidies, and Contract Assistance
Grants, Subsidies and Contract Assistance spending is $8.0 million or 44% under budget due to timing
delays for the Fairmont Commuter Rail project. The Rail and Transit Division anticipates that spending
will escalate throughout the fiscal year, and the Fairmont Commuter Rail project will come in over
budget.
Office of the Secretary Departments
Employee Payroll and Benefits
Employee Payroll and Benefits is $7.4 million or 68% over budget due to delays in the transfer of
employees from capital to operating. Employee Payroll and Benefits is projecting to be $8.9 million or
60% over budget for the entire fiscal year. The over-spending is offset by savings realized in other
spending categories.
1
Grants, Subsidies, Contract Assistance
Grants, Subsidies, Contract Assistance has a variance of $6.3 million or 43%. However, that surplus will
be reduced as Transportation Planning ramps up spending in the fourth quarter.
FULL YEAR TRENDS AND PROJECTIONS
The capital budget is forecast to be under budget by $117.5 million at the end of the fiscal year. The
major area of under-spending is in the Highway Division within Construction and Maintenance.
2