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Transportation Corridor Agencies October 2024 Board Meeting Highlights

Budget Status Report for Fiscal Year 2024 (FY24)

For end of FY24 the joint boards of Foothill/Eastern Transportation Corridor Agency (F/ETCA) and San Joaquin Hills Transportation Agency (SJHTCA) reported strong fiscal management with healthy unrestricted cash reserves that support the Boards approved Strategic Plan. A rise in The Toll Roads usage resulted in a 7% toll revenue increase year over year with over 93,760,00 roadway transactions. Expenditures were below budget as cost containment efforts continued, while debt service coverage ratios met requirements of indentures and current credit ratings.

During FY24, F/ETCA completed an early paydown of $60 million in senior lien bond principal that results in $54 million in future interest savings.


State Advocacy Services

State CapitalThe Boards of Directors approved a contract with The Apex Group for state legislative advocacy services to assist the Agencies in achieving its legislative initiatives and goals. In addition to monitoring state legislative activity and administrative actions, TCA partners with a state advocacy firm to implement the Board-adopted legislative platform and maintain a strong presence with the California Legislature and state agencies.

With assistance from The Apex Group, TCA will remain focused on its legislative priorities, including achieving national interoperability to enhance customer convenience and navigating state regulations to advance TCA’s capital improvement projects. This partnership will also help keep TCA at the forefront of legislative discussions and position the Agencies as a statewide leader in mobility and innovation.


TCA Recognized by OC Taxpayer Association

OC Taxpayers AssnTCA Chief Executive Officer, Ryan Chamberlain shared with the Boards of Directors the news that the Agencies are being recognized with a Rose Award by the Orange County Taxpayer Association for the execution of TCA’s early bond paydown program.

The early paydown of bond debt exemplifies the commitment both Agencies have to fiscal stewardship, which is core to the Agencies’ past and future success. TCA plans to pay down another $200 million in bond principal this fiscal year (FY25), adding to the $1.39 billion in interest savings and principal paydown since 2019.

TCA will receive the award at the 14th Annual OC Taxpayer’s Roses, Radishes and the Royalty Award event to be held October 23, 2024.