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:

Supporting Files

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