By The Star Staff
Two years after emerging from bankruptcy, the Highways and Transportation Authority (HTA) is facing a significant financial challenge.
It has a $33 million gap in its budget due to uncollected toll fines since 2022, according to the Financial Oversight and Management Board. The situation could have serious implications for the HTA’s operations and the public’s use of the transportation system.
The public corporation is projected to fail to generate another $48 million. Executive Director Edwin González Montalvo said the HTA has worked to improve the AutoExpreso system since the platform suffered a cyber attack in April 2022, including modernizing toll plazas.
However, the reinstatement of the fines has depended on the selection of a new operator. Three companies have expressed interest and the selection process could extend until April 2025.
The reduction in revenue from the suspension of toll fines was a factor that led the oversight board to reject the HTA’s proposed budget for fiscal year 2024-2025, considering that the proposal indicates the entity’s inability to generate sufficient revenue to cover its annual operating expenses.
“The Proposed Budget reflects HTA’s inability to generate sufficient revenues within the fiscal year to cover its annual expenses for operations, including road maintenance,” the oversight board said. “The Proposed Budget, therefore, projects a deficit for the upcoming fiscal year. The operating deficit appears two years after emerging from bankruptcy and less than one year after raising significant funds through the successful concession agreement for toll roads. The proposed budget also deviates in numerous ways from the 2023 HTA Fiscal Plan. Most notably, the Proposed Budget forecasts toll fine revenues substantially below 2023 HTA Fiscal Plan projections because of the Government’s and HTA’s continued inability to reinstate fines and implement measures to optimize toll fine collections.”
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