Tia Citizens’ review panel November 5, 2018 25% Local government distribution

TIA PROCEEDS Distribution overview Local Governments 25% GA State Financing and Investment Commission (GSFIC) GA Dept. of Revenue (GDOR) GA Dept. of Transportation (GDOT) 75% Regional Trust Accounts

GSFIC responsibilities FINANCING & INVESTMENT DIVISION Receives tax proceeds from Department of Revenue by special district. All proceeds will be maintained in a separately managed trust fund and accounted for separate from other GSFIC funds and by special district. Distributes 25% of tax proceeds to local governments within each special district. Maintains interest earnings by special district. Interest earnings will first be used to meet GSFIC’s operating costs of the TIA program. Delivers semi-annual reporting which reflects tax collections, distributions, and current projections of monthly tax collections for forecasting purposes. Maintains eTIA, a web-based system for revenue and expense tracking and reporting

GSFIC responsibilities CONSTRUCTION DIVISION Review and Approve upon request from GDOT which shall include certification of completion of the project or project element for which funds are requested. Disbursements will be accounted for by special district and project.

GSFIC responsibilities BOTH DIVISIONS Contracts with GDOT for the management of the budget, schedule, execution and delivery of transportation projects on the approved investment lists. Requires GDOT to assume responsibilities associated with regional citizen review panel and any other district advisory councils or working groups. Consults at least quarterly with GDOT regarding the progress and performance in execution, schedule, and delivery of projects for cash management purposes. Coordinates an annual comprehensive audit of TIA projects which shall include for each special district by project the original estimated cost, current cost if different, amounts expended in prior years and amounts expended in current year. Audit will be completed by September 30th each year.

Local share Distribution timeline May 2018: TIA Referendum passes Region 11 October 1, 2018: Tax begins November 20, 2018: Deadline for submittal of October collections to DOR November 29, 2018 : DOR transfers TIA proceeds to GSFIC November 30, 2018 : GSFIC transfers 25% of TIA actual monthly collections, allocated by the Fiscal Year 2019 LARP factor, to local governments in each region via ACH transfer Monthly thereafter: Distributions to local governments will continue until October 31, 2028 or when the original TIA forecasted revenue is collected (whichever is sooner) Annually thereafter on July 1: LARP factor is recalculated based on updated census and lane miles and applied to distributions on a fiscal year basis

How can local governments use the tia proceeds? Code Section 48-8-249 (e) . . . Such proceeds shall be used by the local governments only for transportation projects as defined in paragraph (10) of Code Section 48-8-242 and may also serve as the local match as required for state transportation projects and grants.   Code Section 48-8-242 (10) Project means, without limitation, any new or existing airports, bike lanes, bridges, bus and rail mas transit systems, freight and passenger rail, pedestrian facilities, ports, roads, terminals, and all activities and structures useful and incident to providing, operating, and maintaining the same. The term shall also include direct appropriations to a local government for the purpose of serving as a local match for state and federal funding.  

What are the local government audit requirements for tia proceeds? The Transportation Investment Act of 2010 only specifically addresses the audit requirements on the 75% of the funds that are not immediately distributed to the local governments. Local governments should include TIA proceeds in their annual financial statements. The Department of Community Affairs has created a special revenue fund for TIA proceeds in the Uniform Chart of Accounts.

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