The Lexington Herald Leader is reporting that state Transportation Secretary Greg Thomas said Tuesday Kentucky will slow or delay the starts of new road projects to shore up the ailing Road Fund.
Thomas told the Interim Joint Committee on Transportation that the transportation cabinet has a “Pause-50” plan to restore funding to normal operating levels.
“For the first time in recent history, the cabinet faces a low Road Fund cash balance, which compromises our ability to authorize new state road projects over the next biennium,” said Thomas. “The “Pause-50” approach is designed to slow or delay the starts of new projects so that we can pay current expenditures, recoup lost revenue and rebuild our funding base.”
The transportation cabinet strives to have a balance of at least $100 million at any given time. The last time the cash balance neared zero was in 2004 when it hit $30 million
Source: Lexington Herald Leader
