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Ridership .................................................................................................................................................... 5-38<br />

Chapter 6: Finance .................................................................................................................................... 6-1<br />

Highway Finance ..................................................................................................................................................... 6-2<br />

Revenue Sources for Highways .................................................................................................................... 6-2<br />

Revenue Trends .................................................................................................................................... 6-5<br />

Highway Expenditures ................................................................................................................................. 6-8<br />

Types <strong>of</strong> Highway Expenditures ............................................................................................................ 6-9<br />

Historical Expenditure and Funding Trends .......................................................................................... 6-9<br />

Highway Capital Outlay .............................................................................................................................. 6-14<br />

Capital Outlays on Federal-Aid Highways ........................................................................................... 6-17<br />

Capital Outlays on the National Highway System ............................................................................... 6-18<br />

Capital Outlays on the Interstate System ........................................................................................... 6-18<br />

Project Finance ........................................................................................................................................... 6-19<br />

Public-Private Partnerships ................................................................................................................. 6-19<br />

Federal Credit Assistance .................................................................................................................... 6-20<br />

Debt Financing Tools ........................................................................................................................... 6-21<br />

Transit Finance ...................................................................................................................................................... 6-22<br />

Level and Composition <strong>of</strong> Transit Funding ................................................................................................. 6-23<br />

Federal Funding .................................................................................................................................. 6-24<br />

State and Local Funding ...................................................................................................................... 6-25<br />

System-Generated Funds .................................................................................................................... 6-25<br />

Trends in Funding ....................................................................................................................................... 6-25<br />

Funding in Current and Constant Dollars ............................................................................................ 6-26<br />

Capital Funding and Expenditures ............................................................................................................. 6-27<br />

Operating Expenditures ............................................................................................................................. 6-31<br />

Operating Expenditures by Transit Mode ........................................................................................... 6-31<br />

Operating Expenditures by Type <strong>of</strong> Cost ............................................................................................ 6-33<br />

Operating Expenditures per Vehicle Revenue Mile ................................................................................... 6-33<br />

Operating Expenditures per Passenger Mile ...................................................................................... 6-36<br />

Farebox Recovery Ratios ..................................................................................................................... 6-36<br />

Rural Transit ............................................................................................................................................... 6-37<br />

Part II: Investment/Performance Analysis ........................................................................................................... II-1<br />

Introduction ............................................................................................................................................ II-2<br />

Capital Investment Scenarios ................................................................................................................................. II-3<br />

Highway and Bridge Investment Scenarios .................................................................................................. II-4<br />

Transit Investment Scenarios ....................................................................................................................... II-5<br />

Comparisons between Report Editions ........................................................................................................ II-5<br />

The Economic Approach to Transportation Investment Analysis ........................................................................... II-6<br />

The Economic Approach in Theory and Practice.......................................................................................... II-7<br />

<strong>Table</strong> <strong>of</strong> <strong>Contents</strong> vii

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