Item 1 of Chapter 836 of the 2017 Session of the General Assembly included the requirement that the Joint Commission on Transportation Accountability shall regularly review, and provide oversight of the usage of funding generated pursuant to the provisions of House Bill 2313, 2013 Session of the General Assembly. To this end, by November 15 the Secretary of Transportation, the Northern Virginia Transportation Authority and the Hampton Roads Transportation Accountability Commission shall each prepare a report on the uses of the Intercity Passenger Rail Operating and Capital Funds, the Northern Virginia Transportation Authority Fund, and the Hampton Roads Transportation Fund, respectively, each year to be presented to the Joint Commission on Transportation Accountability.

During FY2018, HRTAC took actions and executed project agreements with the Virginia Department of Transportation (VDOT) to accelerate projects through advancing project readiness, financing, and program delivery. During the fiscal year, HRTAC issued its Short Term Six Year Funding Plan FY2019 through FY2024 and its Draft Long Range Funding Plan through FY2045, conducted its inaugural bond offering closing at $583M on February 14, 2018, and further advanced project development and construction of nearly $1.6 billion total value projects with VDOT. Of the total project costs, $1.23B is sourced by HRTAC controlled monies. The Smart Scale Program has provided $295M towards HRTAC projects including the I-64 Peninsula Widening Segment 3 Project ($145M Smart Scale), I-64 Southside Widening Including High Rise Bridge Project ($100M Smart Scale), and Phase 2 of the I-64/I-264 Interchange Project ($50M Smart Scale). Figure 1 provides a graphic showing the locations and the activities of the HRTAC funded projects. The Commission continues to ensure that the Hampton Roads Transportation Fund monies are efficiently programmed. HRTAC does not allow balances to sit on projects that will not fully utilize the allocated funds in a timely manner. VDOT and HRTAC worked together during FY2018 to identify projects that could release project contingency funds or allocations deemed surplus to allow other projects to advance. Early in the fiscal year, $5.0M was identified and released and primarily reallocated to another project. Late in the fiscal year, VDOT and HRTAC again reviewed project activities and found that $140.3M Hampton Roads Transportation Funds and $31.1M Smart Scale funds could be released from HRTAC projects due to better than anticipated construction costs and release of contingency following project scope validation. The late FY2018 deallocation efforts resulted in necessary funding agreement changes between VDOT and HRTAC that will occur in early FY2019. During FY2018, HRTAC spent $168,359,425. Since its inception, HRTAC has entered into project agreements obligating $1,230,928,095. Of those obligations, HRTAC has spent a total of $267,126,025.