2014 Transporation Benefit District (TBD) Annual ReportEdmonds Transportation
Benefit District
2014 Annual Report
2/3/2015
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Transportation Benefit District
2014 Annual Report Review
■ Edmonds City Council forms TBD on November 18, 2008. TBD
jurisdiction is only within the Edmonds city limits.
■ TBD Board enacts $20/year fee with Ordinance No. 1 on
February 17, 2009. TBD eligible expenditures include operation,
maintenance, and preservation of City streets and eligible traffic
control assets such as signals, markings, and crosswalks.
■ 2014 TBD revenues and transfers to Street Fund 111 exceeded
$645,000 budget estimate by $25,435.
■ A total of $670,435 in vehicle fees was collected in 2014. All of
which and more was spent on TBD eligible expenditures.
■ The additional $109,068, the remaining 14% of TBD eligible
expenditures, were absorbed by Street Fund 111 due to revenue
constraints from the TBD funding source.
■ A total of $779,503 in TBD eligible expenditures was spent in
2014 with 86% of the expenditures funded by TBD license fees.
■ Capital improvement project costs are not included in totals.
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Asphalt Repair
& Paving
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Signal Maintenance &
Programming
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Graffiti Removal
2015 Forecast
■ $650,000 budgeted for 2015 in TBD $20 vehicle fee revenue,
$5,000 more than budgeted in 2014.
■ $6707000 budgeted for 2015 to come from motor vehicle fuel tax
for funding street maintenance and operations including vegetation
management and lighting. $25,000 more than budgeted in 2014.
■ $140,000 in motor vehicle fuel tax revenues budgeted for 2015 for
transportation capital improvement projects. $25,000 more than
2014 estimate.
■ Total motor vehicle fuel tax in WA fixed at 55.9¢/gallon (7t" highest)
■ Recent price collapse in global crude oil market may spur more
consumption by motorists potentially increasing revenues slightly.
■ $400,000 in 2015 General Fund transfers to Street Fund 111
budgeted for basic operations and maintenance expenses.
■ $706,000 in 2015 General Fund transfers to Street Fund 112
budgeted for city-wide Pavement Preservation Program.
■ We estimate an additional $1.5 million is needed above and
beyond current funding levels to provide a sustainable street
condition. This does not include capital improvement projects.
Questions?