Ohio Department of Transportation State Infrastructure Bank Annual Financial Report : Federal Fiscal Year 2008

Details

• Corporate Creators:
  Ohio. Dept. of Transportation
• Subject/TRT Terms:
  Annual Reports Finance Financing Logistics Operating Revenues Planning Reports Revenues Transportation Departments Transportation Planning
• Resource Type:
  Organization Info
• Geographical Coverage:
  Ohio
• Corporate Publisher:
  Ohio. Dept. of Transportation
• Abstract:
  The Ohio Department of Transportation is pleased to present the Federal
  
  Fiscal Year (FFY) 2008 State Infrastructure Bank (SIB) Annual Financial
  
  Report.
  
  The portfolio of the FFY 2008 SIB had a total of five loans totaling $22.1
  
  million. Since the beginning of the program, the Ohio SIB has issued 112
  
  loans and 1 bond totaling over $324 million.
  
  In addition, the SIB has created two five million dollar reserve funds for
  
  each bond fund established (GRF and Title 23). The SIB sold bonds to fund
  
  required reserves. All repayments from the existing GRF and Title 23 loan
  
  portfolio accounts are pledged to support any borrower repayment
  
  shortfall. This pledge is followed by all cash in each respective account,
  
  with the reserves being accessed last. The covenants of each program
  
  include that these reserves be maintained for any outstanding bonds.
  
  The Federal Title XXIII Transportation Infrastructure Bond Fund was
  
  established on July 30, 2008. Similar to the State Transportation
  
  Infrastructure Bond Fund (GRF), the bonds are issued on behalf of eligible
  
  Ohio political subdivisions. The program received an AA rating from Fitch.
  
  A $5 million program reserve was issued. This bond program is for projects
  
  that are classified as Title XXIII eligible. At the time of this report, two public
  
  entities were considering utilizing the program for their projects.
  
  This report contains a financial statement of the SIB and loan summaries
  
  for loans that closed during the federal fiscal year (October 2007-September
  
  2008). The active project list contains loans that had an open encumbrance
  
  or an outstanding balance during the year. Also, there are graphs displayed
  
  in the report that reflect the types of loans issued, fund balances and a
  
  state map showing the locations of the loans issued.
  
  The Ohio SIB has been audited for State Fiscal Year 2007 by the State of
  
  Ohio Auditor?s office and complies with the Single Audit Act.
  
  To the best of our knowledge and belief, the enclosed data is accurate in all
  
  material respects and is reported in a manner designed to present fairly the
  
  financial position of the Ohio State Infrastructure Bank.
  
  
• Format:
  PDF
• Collection(s):
  US Transportation Collection
• Main Document Checksum:
  urn:sha256:7cefc4997cdbf398263660ae2db9bbd56de260cc1a7ff0b79ab1333a2f469f37
• Download URL:
  https://rosap.ntl.bts.gov/view/dot/34152/dot_34152_DS1.pdf
• File Type:
  [PDF - 4.33 MB ]