Fiscal Year 2012 Budget 34
Fund Structure
Maintenance and Operations Account
The Maintenance and Operations Account consists of the Operating Sub-Account and the Operating
Reserve Sub-Account. Monies in the Operating Sub-Account are applied to operating expenses at the
direction of the Tollway.
Revenues are transferred to the Operating Sub-Account to cover the expenses set forth in the annual
budget for the current fiscal year. One-twelfth of the operating expenses outlined in the annual budget
are transferred to this account once a month.
The Operating Reserve Sub-Account receives or retains an amount not to exceed 30 percent of the
amount budgeted for operating expenses in the annual budget for the current fiscal year. Monies in
the Operating Reserve Sub-Account are held as a reserve for the payment of operating expenses and
are to be withdrawn from if monies are not available to the credit of the Operating Sub-Account to
pay operating expenses.
If the Tollway determines that the amount in the Operating Reserve Sub-Account exceeds the amount
necessary, the excess will be withdrawn from such Sub-Account and applied as revenues. The 2012
Budget funds a $12 million increase in the Operating Reserve, increasing the reserve from $17 million
to $29 million.
Debt Service Account and Debt Reserve Account
The Debt Service Account consists of the Interest Sub-Account, the Principal Sub-Account, the
Redemption Sub-Account, the Provider Payment Sub-Account, to be held by the Trustee.
Revenues are required to be deposited to cover the interest, principal, and sinking fund installment
amounts due and unpaid for bonds, the costs and reimbursements (and termination payments for
agreements executed before June 22, 2005) of providers of Credit Enhancement or Qualified Hedge
Agreements.
Revenues must also be deposited to the credit of the Debt Reserve Account, in an amount sufficient to
cause the balance in it to equal the Debt Reserve Requirement (maximum annual debt service) and to
make any required reimbursement to Providers of Debt Reserve Account Credit Facilities.
Termination Payment Account
This account was established in the Seventh Supplemental Indenture (June 22, 2005) to pay termination
payments due to any providers of Credit Enhancement and Qualified Hedge Agreements executed on
or after June 22, 2005. No funds are expected to be allocated to this account in 2012.
