Value of the RARF Freeway System: A Corporate-Style Financial Analysis

摘要

This report uses foundation and format developed in phase 1 of SPR 475-The Valueof Arizona's State Highway System: A Corporate-Style Financial Analysis, report FHWA-AZ-99-475(1)-and adapts it to measure the financial performance of the Maricopa County freeways funded by the Regional Area Road Fund. The basic findings of this research was summarized as follows: the RARF freeway system has operated at a substantial loss over the past 12 years; the losses are projected to continue through the MAG system life cycle build-out 2007; the average returns earned by the RARF Freeway System over the last five years; the value of the regional freeway system exceeds 30 cents per vehicle mile travel; revenues generated by users of the RARF freeway system have averaged less than 4 cents per mile travel; highway user fees could be increased without reducing use of the roadways and an electronic tolling system would be the most efficient means of ensuring that highway users pay fees commensurate with their use of the highway system.