For Immediate Release: 11/14/23
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THRUWAY AUTHORITY BOARD OF DIRECTORS UNANIMOUSLY APPROVES 2024 ANNUAL BUDGET
$1.3 Billion Spending Plan Includes More Than 25 Percent Increase in Infrastructure Improvement Investments Compared to 2023 Budget
Five-Year Capital Program to Increase by $500 Million
Newly Created 10-year Strategic Plan Focuses on Safety, Infrastructure Integrity, Environmental Stewardship, Customer Service and Operational Excellence
The New York State Thruway Authority Board of Director’s today unanimously approved the Authority’s 2024 Annual Budget. The $1.3 billion spending plan includes a $91 million or 25 percent increase compared to 2023 in capital improvement investments which are the result of the toll adjustment that goes into effect on January 1, 2024. The approved 2024 Budget commits $2.4 billion over the next five years for Thruway Authority Capital Program projects across its 570-mile system statewide.
The approved 2024 Budget and previous budgets can be found HERE.
“The 2024 Budget provides the resources needed for the Thruway system to continue to be one of the safest and most reliable superhighways in the country,” Thruway Authority Acting Executive Director Frank Hoare said. “The additional revenue generated by the toll adjustment will enable the Authority to increase funding for critical infrastructure projects aimed at maintaining, modernizing and rebuilding the Thruway system, much of which was originally constructed 70 years ago.”
“This budget represents a responsible fiscal plan for the Thruway Authority to maintain the reliability and services its motorists expect,” Joanne M. Mahoney, Thruway Board of Directors Chairperson said. “The approval of this budget coupled with the 10-year Strategic Plan establishes long-term priorities and better positions the Authority to be responsive to its customers’ needs for the next decade.”
The 2024 overall budget totals $1.3 billion, which includes $411.9 million for the operating expenses of the Thruway Authority, $364 million for debt service, $71 million for reimbursement of costs associated with New York State Police Troop T patrolling the system and $450.9 million for capital projects across the Thruway system in 2024.
Overall, $2.4 billion will be invested over the next five years into the Thruway’s Capital Program, a $500 million increase compared to the 2023 Budget. The increased investment will lead to work on approximately half of the Thruway’s more than 2,800 lane miles as well as projects on approximately 90 of Thruway’s 817 bridges. Bridge work will include replacements, rehabs, paintings, joint replacements, vertical clearance improvements, etc.
Today’s meeting also included the approval of a newly created strategic plan. Over the last year, through a series of interdepartmental collaborative meetings, the Thruway Authority developed a 10-year Strategic Plan. This roadmap is firmly aligned with the Authority’s Mission, Vision, Guiding and Operating Principles. The goals identified in the Strategic Plan will streamline operations and prioritize the Authority’s work to allocate resources more cost-effectively over the next decade. The ambitious goals ensure the Authority continues to operate and maintain one of the safest, low-cost superhighways in the nation.
The Authority’s long-term growth and success is centered around its operational objectives including safety and infrastructure investment goals. Safety goals represent the cornerstone for Authority staff and the traveling public. A safe road has fewer delays and lane closures, decreases crashes and optimizes how work is performed through technology including the use of drones. The infrastructure integrity goals cover both physical and IT infrastructure, ensuring high quality asset management and long-term durability. All of these priorities ensure the viability of the Thruway’s 570-mile superhighway by maximizing toll revenue to address our aging bridges and roadway.
The Thruway Authority’s Strategic Plan demonstrates commitment to:
- Optimize resources to meet current and future service delivery needs
- Explore new revenue sources to fund capital and operating needs
- Deliver services that continuously improve the customer’s experience
- Foster and promote teamwork that is consistent with operating principles
- Focus and support systematic, data-driven decisions
- Create an environment for diversity and inclusion to flourish
The Thruway Authority Board of Directors voted to approve the toll adjustment proposal on the New York State Thruway system in September. The vote followed a public toll adjustment process that began on Dec. 5, 2022, which included five public hearings in 2023, receipt and consideration of more than 200 public comments, completion of the Environmental Assessment for the proposed toll modification, as well as the completion of all of the necessary actions required by the Public Authorities Law, the State Administrative Procedure Act (SAPA) and the State Environmental Quality Review Act (SEQRA).
The Thruway is a user-fee supported highway and receives no dedicated federal, state or local tax dollars.