RELATIONSHIPS WITH OTHER GOVERNMENTAL AGENCIES NOTE 11
NOTE 11 Relationships with Other Governmental Agencies
The MDTA has entered into contractual agreements and performs services for other governmental agencies. The MDTA receives rent, interest income, and fees for services, which are included in intergovernmental revenue in the accompanying financial statements. In addition, other governmental agencies provide services to the MDTA, which are included in the appropriate expense category. The MDTA’s intergovernmental revenue for the year ended June 30, 2024, is as follows:
Intergovernmental Revenue Summary
Federal Highway Administration Maryland Aviation Administration Internal Revenue Service
$
35,057 29,229 10,555 8,553 976 5,754 90,125
Maryland Port Administration Motor Vehicle Administration State Highway Administration and Other Total
$
Federal Highway Administration Following the allision of the M/V DALI with the Francis Scott Key (FSK) Bridge on March 26, 2024, the main spans and three approach spans of the FSK collapsed. For the year ended June 30, 2024, the MDTA obtained federal grant revenue in the amount of $35,057 to assist with the cleanup and salvage effort for the FSK Bridge. See Note 12 for more information regarding the FSK Bridge. Maryland Aviation Administration The MDTA Police provide law enforcement services to the Maryland Aviation Administration (MAA) at BWI Marshall Airport. Protection is provided in the main terminal and all surrounding roadways, parking garages and lots, as well as the rental car and cargo facilities. The MDTA Police also furnish communications services and K-9 teams trained in explosives detection. For the year ended June 30, 2024, $29,229 was received from the MAA. The MAA entered into a $20,000 loan agreement with the MDTA, plus deferred interest, for improvements to Concourse A at BWI Marshall Airport. The MDTA retains a leasehold interest in the property for the life of the loan. The loan was fully drawn in fiscal 2021 and debt service payments began on January 15, 2021. Level debt service at a 1.53% financing rate will be paid through July 15, 2033. The loan to the MAA is subject to prepayment at any time. Internal Revenue Service For the year ended June 30, 2024, the MDTA received a subsidy of $10,555 from the Internal Revenue Service for interest payments due on the Series 2009B and 2010B Build America Bonds (BABs). The 35% BABs interest payment subsidy was subject to a 5.7% reduction caused by sequestration that was effective during the federal fiscal year.
Annual Comprehensive Financial Report For Fiscal Year Ended June 30, 2024 | 75
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