STATEMENT OF REVENUES, EXPENDITURES, AND CHANGES IN FUND BALANCE
WASHINGTON STATE DEPARTMENT OF TRANSPORTATION
INTERSTATE 405 ACCOUNT
STATE FISCAL YEAR 2016, QUARTER DECEMBER 31, 2015

JULY
THROUGH
SEPT

NOTES
REVENUES
Tolling revenue
Transponder sales
Toll vendor contractual damages
Toll bill reprocessing fee
Interest income
Miscellaneous

1
2
3
4

$

56,014
335,474
2,085
-

5

TOTAL REVENUES
EXPENDITURES
Goods and Services
Toll CSC operations vendor contract
Toll Lane Vendor
Credit card and bank fees
Transponder cost of goods sold
Washington State Patrol
Pay-by-mail
Other
Total Goods and Services
Personal service contracts
Salaries and benefits
Civil penalty adjudication cost

6

7
8
9
10
11

TOTAL EXPENDITURES
EXCESS OF REVENUES OVER EXPENDITURES
OTHER FINANCING SOURCES (USES)
TOTAL OTHER FINANCING USES
NET CHANGE IN FUND BALANCE
FUND BALANCE - BEGINNING
FUND BALANCE - ENDING

$

OCT
THROUGH
DEC
$

3,653,011
1,127,472
1,723
44,236
3,768
(3,224)

YEAR-TO-DATE
$

393,573

4,826,986

5,220,559

244,254
244,254

322,895
196,896
922,776
380,119
122,781
98,899
2,044,366

322,895
196,896
1,167,030
380,119
122,781
98,899
2,288,620

27,189
-

70,686
152,998
-

70,686
180,187
-

271,443

2,268,050

2,539,493

122,130

2,558,936

2,681,066

-

-

-

-

-

-

122,130

2,558,936

2,681,066

2,062,389

2,184,519

2,062,389

2,184,519

$

4,743,455

$

The notes to the financial statements are an integral part of this statement.

1

3,709,025
1,462,946
1,723
44,236
5,853
(3,224)

4,743,455

 NOTES TO THE STATEMENT OF REVENUES, EXPENDITURES, AND CHANGES IN FUND BALANCE
WASHINGTON STATE DEPARTMENT OF TRANSPORTATION
INTERSTATE 405 ACCOUNT
STATE FISCAL YEAR 2016, QUARTER DECEMBER 31, 2015

th

nd

WSDOT began tolling operations on the I-405 Express Toll Lanes on the 27 of September. Some of the 2 quarter expenditures
related to the toll facilities and its operations were still being expended from the capital project fund.
Tolling Subsidiary Accounting System – Repeat independent audits have determined that the tolling subsidiary accounting system
for WSDOT, which is managed by a contracted service organization, contains weaknesses in internal controls. The most recent audit
showed that some of the deficiencies identified in previous audits have been remediated, resulting in improved internal controls.
The Toll Division continues to work with our service organization to remediate the remaining deficiencies. WSDOT is committed to
the highest standard of transactional and financial accountability for the citizens of Washington State.

Detailed Notes
1.

2.

Tolling Revenue – Revenue earned, net of any adjustments, from tolls on vehicles traveling in the I 405 express toll lanes, which
are collected by either Good To Go! electronic toll accounts or pay-by-mail. Tolling Revenue is understated by an immaterial
amount due to a system issue. Revenue will be corrected in January 2016.
Transponder Sales – Sales of transponder devices to potential and existing Good To Go! electronic toll account customers.

3.

Toll Vendor Contractual Damages – Charges to ETCC for not meeting Key Performance Indicators (KPIs) totaling $1,723.

4.

Toll Bill Reprocessing Fee Revenue – The allocated portion of fees associated with the issuance of second toll billings.

5.

Miscellaneous Revenue – This can include revenue for administrative and statement fees, NSF check fees, cash over, payments
related to sale of surplus property, and prior period recoveries.

6.

Toll CSC Operations Vendor Contract – Payment for monthly CSC operations costs.

7.

Transponder Cost of Goods Sold – Cost of purchasing, packaging, and shipping transponders.

8.

The Washington State Patrol – Support for the enforcement of the laws governing the use of 405 Express Toll Lanes by issuing
citations to 405 violators.

9.

Other Goods and Services – Expenditures for supplies, communications, rents, repairs, services provided by outside vendors,
printing, and registered owner look up costs.

10. Personal Service Contracts – Expenditures incurred for traffic and revenue forecast consulting and CSC operations consulting.
11. Civil Penalty Adjudication Costs - 405’s share of the adjudication system vendor contract with ETCC for the adjudication system
module, as well as its share of supplies, communications, credit card fees, Office of Administrative Hearings costs, and salaries
and benefits of WSDOT staff.

2