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原文传递 The Value of Arizona’s State Highway System: A Corporate-Style Financial Analysis

题名：	The Value of Arizona’s State Highway System: A Corporate-Style Financial Analysis
作者：	Nadia Mansour and John Semmens
关键词：	transportation finance, value of highways
摘要：	Government agencies and private sector corporations tend to approach financial reporting in different ways. Presenting government agency financial information using corporate-style reporting would accomplish two specific goals. First, it might provide a more economically sound picture of the financial status of governmental undertakings. The private sector approaches issues of subsidization, revenue generation, depreciation, inflation, etc. in a different way than governments generally do. Using private sector techniques will therefore, present a different perspective on die financial status of the state highway system than is currently repotted by the Arizona Department of Transportation. Secondly, because legislators, the media and the general public arc more familiar with private sector financial reporting, presenting government data in a similar fashion may improve communication between government agencies and these groups. The basic findings of this research can be summarized as follows: ■ Under corporate style accounting, Arizona's state highways are a “break-even” proposition. ■ A “break-even” position does not allow for contingencies or traffic growth. ■ State highway users have paid taxes sufficient to cover 97% of the amount spent on the system. ■ The value of these highways is in excess of 30 cents per vehicle mile of travel. ■ The amount paid to support the construction and maintenance of these highways is only 4 cents per vehicle mile of travel. ■ Highway user fees could go considerably higher without significantly depressing usage. ■ Differential pricing through electronic tolling would provide the most economically and socially efficient method for implementing fully compensatory highway user fees. Phase II of this project will attempt a similar financial analysis of the Maricopa freeway system.
报告类型：	科技报告