Submitted by Anonymous (not verified) on
During a conference call today, a representative from the U.S. Department of Transportation (DOT) clarified the Federal Highway Administration’s (FHWA’s) cash management plan to address the pending insolvency of the Highway Trust Fund (HTF), which will take effect on August 1 absent legislative action.
Specifically, DOT confirmed that a state may submit multiple reimbursement requests during a semi-monthly allocation period, which will be paid until the state’s cap is reached. Reimbursements will not be delivered on the same day they are requested, but 1-3 business days later. Once a state reaches its cap, reimbursements will halt for that period, but submissions above the cap may be carried over into the next period if requested by the state.
DOT will calculate reimbursement caps for each semi-monthly period based on the share of apportioned funding. A step-by-step example and a table showing each state and territory’s share of cash allocations for the semi-monthly period is included in new guidance released by DOT: http://www.dot.gov/grow-america/dot-guidance-cmp-htf
The following
website has the most up-to-date information coming out of DOT:
http://www.dot.gov/highway-trust-fund-ticker