MoDOT gets temporary reprieve, should avoid loss of $167 million

A windfall resulting from state revenue exceeding projections means the Missouri Department of Transportation will likely avoid the loss of $167 million in federal transportation funds.

Revenue from fuel taxes, vehicle sales taxes and licensing fees in the recently completed fiscal year was up 4.5 percent from the amount projected, resulting in MoDOT bringing in about $5 million more than what it needed to avoid the loss of federal dollars.

Recent financial projections for MoDOT had suggested that without revenue growth, the state would not be able to match federal transportation funds by fiscal year 2017, which starts next July. Under the program, the state gets $4 of federal money for every $1 it contributes.

Despite the reprieve, Missouri Highways and Transportation Commission Chairman Steve Miller said MoDOT still faces financial crisis and shouldn’t view this is a solution to its long-term funding woes.

Read more from the St. Louis Post-Dispatch

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