OCR Text |
Show Foundation Checks Hiway Funds Utah should have sufficient state highway revenue over the next eight years to meet state matching requirements require-ments on Federal aid highway projects; to provide for administrative, operating, and. maintenance needs of the State Highway Department; and to permit a modest improvement im-provement program on state (non-Federal aid) road projects. This conclusion was reached by Utah Foundation, the private pri-vate governmental research organization, or-ganization, after a comprehensive comprehen-sive study of highway finance in Utah. According to the Foundation, state highway revenues exclusive exclu-sive of Federal aid over the eight-year period 1964 thru ' 1971 will total about $202 million. mil-lion. Approximately $72 mil lion of this sum will be needed need-ed to match Federal highway grants, $110 million will be required re-quired for state administrative, operating and maintenance outlays, out-lays, leaving about $20 million that can be expended on strictly strict-ly state (non-Federal aid) highway construction. Foundation analysts point out that this estimated expenditure expen-diture total for state (non Federal Fed-eral aid) road construction averages about $2.5 million a year. During the past five years, such construction has averaged $4.8 million a year. |