FINANCIAL REPORTS

DRPT Financial Reports

Description

Throughout the year, DRPT releases various budget and financial documents to provide transparency and accountability to the public on how the agency spends and allocates money to its public transportation and rail partners.

The DRPT Annual Budget includes anticipates expenditures on all the projects and grants that the agency manages and the revenue sources to cover these anticipated expenditures.
The DRPT Quarterly Financial Report provides the Commonwealth Transportation Board and other interested parties an update regarding the Agency Budget and the related variances between anticipated expenditures and actual expenditures; cash balances; resources versus commitments; and funds available for allocation.

The State Transportation Improvement Plan (STIP) is Virginia’s federally required four-year plan that identifies transportation projects that utilize federal transportation projects or require approval from either the Federal Highway Administration or the Federal Transit Administration.

The Six-Year Improvement Program (SYIP) is the Commonwealth Transportation Board’s joint annual funding allocation program for the programs and initiatives that DRPT and VDOT administer. The SYIP funds public transportation facilities, commuter and public transportation programs, rail initiatives, and all interstate and primary highway projects throughout Virginia over six fiscal years. The fiscal year starts on July 1 and ends on June 30.                             

 

Aerial drone airplane view of cityscape near Oxon Hill in Washington DC

Process

DRPT releases its draft Annual Budget and Six-Year Improvement Program every April for public comment. The Commonwealth Transportation Board receives feedback and finalizes the plan every June for implementation on July 1. The agency’s releases its quarterly reports throughout the year and adjusts the STIP as needed.

Agency Financial Reports

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