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Are TBD revenues required to be spent as they are collected?

April 26, 2017collected revenues spent tbd

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Are TBD revenues required to be spent as they are collected?

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No. The governing body must develop a plan that specifies the transportation improvements to be provided or funded by the TBD. As part of this plan, the TBD’s governing board can indicate if the funds will be used immediately, or if they will be collected for a specified period. Typically, funds that are collected for a specified period before being expended are used to fully fund large projects, when bonding, or serve as a match for state or federal funds that may only become available in a specified time frame.