MARYLAND TRANSPORTATION AUTHORITY CASH FLOW FORECAST FY 2025 - 2031
In Millions $
FY 2025 FY 2026 FY 2027 FY 2028 FY 2029 FY 2030 FY 2031
Revenues Toll Revenues
$748.4 $757.5 $766.1 $782.0 $808.9 $824.8 $835.6
Concessions Revenue
4.5
4.5
4.5
4.5
4.5
4.5
4.51 12.80 0.08 49.29
Investment Income & Other Revenue MDOT Loan Repayment - Interest BWI/Port Police Reimbursement
24.7
19.2
12.8
12.8
12.8
12.8
0.2
0.2
0.2
0.2
0.1
0.1
40.8
40.5
42.1
43.8
45.6
47.4
Total Revenues
$818.7 $821.9 $825.7 $843.3 $871.9 $889.6 $902.3
Operating Expenses Operating Account Budget
441.4 144.5
456.3 151.8
474.6 166.4
493.6 187.2
513.3 209.7
533.9 232.7
555.2 252.0
Debt Service
Total Operating Expenses
$585.8 $608.1 $641.0 $680.8 $723.0 $766.5 $807.2
Operating Revenue Net of Expenses
$232.9 $213.8 $184.7 $162.5 $148.9 $123.0
$95.1
Capital Expenses 2026-2031 Total CTP
584.6 1,153.8
1,029.6
990.6
792.4
583.1
502.8
Total Expenses (Operating + Capital)
$1,170.5 $1,761.9 $1,670.6 $1,671.4 $1,515.4 $1,349.6 $1,310.0
Capital Funding Source / (Uses) and Intergovernmental Revenue Bonds $0.0
$72.0 $360.8 $390.7 $577.6 $445.8 $406.8
TIFIA
- - -
-
-
-
-
-
-
Surety Policy
(0.1)
(0.6)
(0.7)
(1.0)
(0.8)
(0.7) (13.4)
FSK LOC Defeasance
-
-
-
(260.0)
(154.8)
MDOT Loan Repayment - Principal
1.5
1.5 5.0
1.5
1.6
1.6
1.6
1.6
I-895 Federal Grant
-
25.0
50.0
- - - -
- - - -
- - - -
I-95 Interchange Partner Contribution Key Bridge Property Insurance
11.8 350.0
- - - -
- - -
- - -
Key Bridge Letter of Credit Key Bridge Federal Grant
-
428.2
458.2
386.5
325.3
168.3
13.4
60.0
Accrual Accounting Reconciliation
-
-
-
-
-
-
Total Current Year Sources (Uses) Avai
423.3
506.6
844.9
828.1
643.5
460.1
407.7
Annual Cash Requirements
747.1 1,255.3
825.7
843.3
871.9
902.3
889.6
Annual Cash Surplus/Deficit
$71.5 ($433.3)
$0.0
$0.0
$0.0
$0.0
$0.0
Total Cash Balance
$866.4 $433.1 $433.1 $433.1 $433.1 $433.1 $433.1
Bonds Outstanding
$2,072.2 $2,516.9 $2,826.6 $3,163.0 $3,421.5 $3,639.3 $3,943.8
Financial Coverage Ratios Unencumbered Cash ($400M minimum) Debt Service Coverage (>2.0x) Rate Covenant Compliance (Legal - 1.0x)
$833.3 $400.0 $400.0 $400.00 $400.0 $400.0 $400.0
2.6 2.0
2.4 1.9
2.1 1.7
1.9 1.5
1.7 1.3
1.5 1.2
1.4 1.1
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