Illinois Tollway Invites Public to Comment on Tentative 2022 Budget
Balanced spending plan allocates more than $1.49 billion in annual revenue
and supports more than $1.49 billion for capital program
The Illinois Tollway introduced a balanced Tentative 2022 Budget with $1.49 billion of revenue today that includes $411 million for annual maintenance and operations on the 294-mile system and provides funds to support $1.49 billion in capital spending, including funding for the 11th year of the agency’s 15-year, $14 billion capital program, Move Illinois: The Illinois Tollway Driving the Future.
“Today we are introducing a Tentative 2022 Budget that is the product of our agency’s strong fiscal management and accommodates expenditures needed to maintain our roadways and day-to-day operations that serve communities and drivers throughout Northern Illinois,” said Illinois Tollway Board Chairman and CEO Will Evans. “We encourage the public to view the tentative budget and share their comments.”
As part of the Illinois Tollway’s 2022 Budget process, the general public is invited to visit the Illinois Tollway’s website www.illinoistollway.com to review the Tentative 2022 Budget book, view a recording of the presentation to the board or attend a live virtual public hearing on Monday, November 8, at noon and again at 6 p.m.
Members of the public who wish to make public comments during the either of the public hearings may participate via audio conference call by calling 877-336-4440 and with the passcode “295-5165.”
In addition, written public comments also may be submitted online via the Tollway’s website www.illinoistollway.com, emailed to info@getipass.com or mailed to Communications Department, 2700 Ogden Avenue, Downers Grove, IL 60515 by November 12. After the Board of Directors has reviewed the public comments and any changes have been incorporated, a final budget will be presented for approval by the Board at its December meeting.
Tentative 2022 Budget
The Tentative 2022 Budget presented to the Tollway’s Board of Directors outlines a balanced spending plan to support new technology costs, better internal controls, Illinois State Police District 15, security and safety initiatives, as well as the implementation of the largest capital program in the agency’s history. The proposed spending plan allocates nearly $1.08 billion for direct funding and debt service on capital investments, as well as $411 million for maintenance and operations.
“This Tentative 2022 Budget is a balanced spending plan that will allow us to continue providing the highest-quality roadways and infrastructure, improving service to our customers and further advancing the diversity of our consultants, contractors and workers,” said Illinois Tollway Executive Director José Alvarez.
To support Tollway spending, the Tentative 2022 Budget includes a total $1.49 billion in projected revenue, an increase of 5.4 percent over 2021. This includes $1.48 billion from evasion recovery and tolls, including an annual commercial truck toll rate increase previously approved by the Tollway Board in 2008. There is no toll increase planned for passenger vehicles.
The 2022 estimated revenues also include $3 million from investment income and $11 million from concessions and miscellaneous revenue. The Tollway also plans to issue $500 million in new bonds in 2022 to provide funding for new and future capital program investments.
The Tentative 2022 Budget provides funding for annual maintenance and operations activities including an Information Technology budget of $37.5 million, $39.8 million for State Police and security services, as well as $102.3 million for Operations and Business Systems to providing customer service, support and enhancements.
The Tollway’s 2022 Capital Program calls for investing $1.49 billion in 2021 with $296.8 million budgeted for systemwide roadway and bridge repairs to keep the existing Tollway system in good repair, as well as along with funding for key projects including:
• $439.9 million to continue planning and construction for the new I-490 Tollway and new interchanges connecting to the Jane Addams Memorial Tollway (I-90), Tri-State Tollway (I-294), the Illinois Route 390 Tollway, as well as providing direct access in and out of O’Hare International Airport as part of the Elgin O’Hare Western Access Project.
• $690.1 million to continue design and reconstruction work for the Central Tri-State Tollway (I-294) Project.
• $46.2 million to complete construction of the I-294/I-57 Interchange.
About Move Illinois
The Illinois Tollway’s 15-year, $14 billion Move Illinois capital program is improving mobility, relieving congestion, reducing pollution, creating as many as 120,000 jobs and linking economies throughout the region. The first 10 years of Move Illinois are on schedule and within budget, delivering the new Illinois Route 390 Tollway and a rebuilt and widened Jane Addams Memorial Tollway (I-90) with its new SmartRoad corridor, as well as opening a new interchange connecting the Tri-State Tollway (I-294) to I-57. Progress continues on projects addressing the remaining needs of the existing Tollway system, delivering the new I-490 Tollway Project and reconstruction of the Central Tri-State Tollway (I-294).
About the Illinois Tollway
The Illinois Tollway is a user-fee system that receives no state or federal funds for maintenance and operations. The agency maintains and operates 294 miles of roadways in 12 counties in Northern Illinois, including the Reagan Memorial Tollway (I-88), the Veterans Memorial Tollway (I-355), the Jane Addams Memorial Tollway (I-90), the Tri-State Tollway (I-94/I-294/I-80) and the Illinois Route 390 Tollway.