|Quick Facts (Update as of 12-31-16)
|Current State Contract Outstanding Bonds * (a)
|Current State Contract Debt Service Outstanding *
|Max. Bond Maturity *
|Appropriated Revenue * (b)
|Current State Contract Debt Service *
|Current NJ Transit EDA Debt Service*
| Total TTFA/NJT Debt service (net) *
|Current Credit Ratings **
|Motor Fuel Tax Appropriated to TTFA (c)
|Petroleum Products Gross Receipts Tax Appropriated to TTFA (c)
|State Sales Tax Appropriated to TTFA (c)
|Toll Road Authority Revenue Appropriated to TTFA (c)
* Quick Facts financial data reflects most recent audited financial information as of 6/30/16
** TTFA bonds are State Appropriation Bonds as compared to State General Obligation Bonds.
(a) Amount reflected includes Garvee bonds and is net of non-amortized accretion balances on Capital Appreciation Bonds as of June 30, 2016.
(b) FY16 Appropriation Act appropriated $1,279.6 million. The lower amount reflects
$62.9 million in resources held in the General Fund for FY16 debt service savings and Build America Bond
Tax Credits. In addition to appropriated revenues of $1,216.7 million there was a carryforward of $36.1 million of Build America Bond tax credits held in reserve by the State General Fund to service
FY16 debt service obligations.
(c) Amounts as of the FY 2017 Appropriation Act dedicated to TTFA for debt service.
The Authority’s financing process is directed at issuing sufficient
bonds to reimburse NJDOT/NJ TRANSIT Capital Program
expenditures previously requested and authorized by the Legislature.
The level of bonding needed is based on the Authority's
appropriation revenues and
current debt schedule.
Audited financial statements are prepared each year summarizing
the Authority's financing activity and current financial position.
The Authority was created in 1984 by legislation that has been
amended several times. The current
Transportation Trust Fund Statute (NJSA 27:1B-21.2) and
dedication of revenues found in the State Constitution serve as
the blueprint for all Authority actions.