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GAO-13-19R 1 (2012-11-15)

handle is hein.gao/gaobacgqy0001 and id is 1 raw text is: i &GAO Accountabiity I Integrity * Pe|habilit United States Government Accountability Office Washington, DC 20548 November 15, 2012 The Honorable Patty Murray Chairman The Honorable Susan Collins Ranking Member Subcommittee on Transportation, Housing and Urban Development, and Related Agencies Committee on Appropriations United States Senate The Honorable Tom Latham Chairman The Honorable John Olver Ranking Member Subcommittee on Transportation, Housing and Urban Development, and Related Agencies Committee on Appropriations House of Representatives Subject: Flexible Funding Continues to Play a Role in Supporting State and Local Transportation Priorities The nation's surface transportation system is critical to the economy and affects the daily life of most Americans. However, the system is under growing strain, and the cost to repair and upgrade the system to safely and reliably meet current and future demands is estimated in the hundreds of billions of dollars. State and local governments must maintain existing systems while making efficient use of transportation dollars at a time when revenues to support the Highway Trust Fund-the major source of federal highway and transit funding- are eroding.1 For this and other reasons, funding surface transportation remains on GAO's High-Risk List.2 The Intermodal Surface Transportation Efficiency Act of 1991 (ISTEA)3 introduced several Federal Highway Administration (FHWA) programs that provided states and urbanized areas 1According to the Congressional Budget Office's August 2012 baseline projections for the Highway Trust Fund, the highway account of the Highway Trust Fund will end fiscal year 2012 with a balance of $8.7 billion and the transit account will end the fiscal year with a balance of $4.7 billion. Both accounts are estimated to be unable to meet obligations sometime in fiscal year 2015. 2GAO, High Risk Series: An Update, GAO-i 1-278 (Washington, D.C.: February 2011). 3pub. L. No. 102-240, 105 Stat. 1914 (Dec. 18, 1991). GAO-13-19R Flexible Funding

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