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S CALIFORNIA TRANSPORTATION COMMISSION HEARING The California Transportation Commission (CTC) held a special hearing on W:)nday, November 24 to revie,v the 2004 Fund Estimete that determines how much d noney would be available for the various transportation accounts over the next 5 years. The CTC found that the 2004 State Transportation Im- provement Program (STIP), which spans the next five years through 2008 -09, would have no new funding capacity. Lack of funding means that the STIP will be forced to simply reschedule the remaining $5.4 billion in projects already programmed for delivery over the next three years to over the next five years. The current crisis in transportation funding may be primarily attributed to the nearly $2.5 billion that has been rendered unavailable for transportation purposes due to loans to the State's General Fund; uncertainty over reauthorization funding levels in the Federal Act which could mean a loss of $2.8 billion due to the lower ethanol tax levels; and uncertainty as to whether Proposition 42 monies totaling over $1 billion annually will actually be transferred to transpor- tation, resulting in another several billion dollar reduction. The cumulative effect of these actions means that there will be significant slippage in the delivery of transportation projects and thus a major drain on an important element of the State's economic engine. GOVERNOR SCHWARZENEGGER PROPOSAL FOR CURRENT YEAR REDUCTION IN SPECIAL SESSION On Tuesday, November 15, Governor Schwarzenegger released current year transpor- tation reductions, which appear to shift 141 Traffic Congestion Relief Projects from Proposition 42 monies in this fiscal year to $189 million previously proposed for the General Fund. Further, the proposal would require these projects to secure other funding through either the STIP or local funding mechanisms. The mid -year cuts also propose another $800 million that would be recouped by the General Fund utilizing cash management. The implica- tions appear to affect the Public Transportation Account (PTA) and potentially the State Highway Account, but the details were not clear. Also the proposal requires retaining all excess funds from higher than anticipated gasoline prices in the General Fund rather than transferring them to the Public Transportation Account. . . . . . . . . . . . . . . . . . . . . . . . . • . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . REGISTER NOW FOR THE CITY MANAGERS : RIDING THE WAVES OF CHANGE" ANNUAL CONFERENCE • FEBRUARY 4 -6, 2004 IN HUNTINGTON BEACH Do you want to learn innovative revenue enhancement methods for you city, find out about PERS info and hear the latest updates on the state fiscal reform? Then you won't want to miss this year's city • managers conference in Huntington Beach and the opportunity to gain new insights into your evolving arofession. : Along with top -notch sessions, this conference offers the best networking opportunity for city manag- ers We encourage you to take advantage of the several networking events scheduled for this confer- : ence including a welcome reception, a live entertainment dinner event, and a golf tournament sponsored : by the California City Management Foundation. Register by January12 and receive a $25 coupon for CityBooks, the League's on -site bookstore, www.cacities.org /store. Visit the League's website at wv /ed to register online, make your room reservation and : : view the current program or outline; or call (916) 658 -8227 for additional information. PAGE 2 /PRIORITY FOCUS Visit the League's Official Web Site -- www.cacities.org