In case you missed it, here is some recent news reports about The Toll Roads:
What to say when you hear nobody drives The Toll Roads? Fake news! The Orange County Register highlights The Toll Roads’ record breaking year with ridership increasing nearly 20 percent during the last three years. Traffic may be bad on OC’s freeways, but more than 300,000 daily drivers are finding relief on the 73, 133, 241 and 261 Toll Roads.
Wondering where the tolls you pay go? Paying off construction debt. Because of the strong ridership and revenue growth, the Transportation Corridor Agencies, the government agency overseeing operations of Orange County’s 51-miles of Toll Roads, are on solid financial ground.
So much so, that the Orange County Business Journal is calling it a Toll Road Turnaround. OCBJ lists the top 10 largest issuers of municipal debt in Orange County – the Foothill/Eastern Transportation Corridor Agency, responsible for the 133, 241 and 261 Toll Roads, and the San Joaquin Hills Transportation Corridor Agency, responsible for the 73 Toll Road – ranked the top two. The key takeaway? “The result is that The Toll Roads handily meet debt their debt obligations. Plus, the TCA has more than $1 billion in reserves in case of shortfalls,” reports OCBJ.
TCA’s Fiscal Year 2017 Annual Report highlights record-setting days on The Toll Roads when ridership reached numbers never-before-seen in TCA’s 25-year history. For example, what typically falls in the middle of June? Celebrating Dads and Grads!
Last year, Saturday, June 17, was a record high Saturday with 243,615 transactions and Monday, June 19, was a record high Monday with 306,382 transactions. Combined, that’s more than 12 times the amount of daily Disneyland visitors!
Check out more fun facts about ridership by viewing our In The Driver’s Seat information series.
“More people are using Orange County’s Toll Roads every day. The value our roads as an alternative to Orange County’s congested freeways is underscored by how many trips were taken and accounts opened in Fiscal Year 2017,” said Mike Kraman, TCA’s CEO. “The growth in revenue is a sign of a healthy economy and allows us to maintain a strong financial position and continue to invest in The Toll Roads.”
The Toll Roads and Transportation Corridor Agencies Fiscal Year 2013 (FY13) Annual Report on financials is now available.
At $260,223,000, revenues were up collectively and for each of our two agencies. The number of FasTrak® accounts increased, as did the number of transponders that we have in California vehicles. During the year, 80 million tolls were paid and 85 percent of those tolls were paid electronically. We ended the year with $523 million in reserve funds.
In FY13, we welcomed a new chief executive officer, chief financial officer and 14 new Board Members who are leading the agencies and The Toll Roads with a focus on customer service; building direct connections from The Toll Roads to local freeways to advance regional mobility; working diligently to find an alternative to Interstate 5; and offering Southern California drivers an express choice that is predictable, saves time and reduces stress.
Click here to view the audited financial statements for each agency.