At the June 24 meeting of the Commonwealth Transportation Board (CTB) the board was given an update of the Commonwealth Transportation Fund (CTF) Six-Year Financial Plan (SYFP). At the same meeting, the CTB was presented with the FY 2025 budgets for the CTF and various transportation agencies. On June 24, 2025, the Commonwealth Transportation Board (CTB) unanimously approved the FY 2026 budgets for the CTF, the Department of Rail and Public Transportation (DRPT) and the Virginia Department of Transportation (VDOT).
CTF Six Year Financial Plan Update FY 2026 – 2031
The CTF serves as the fund to which all transportation revenues are deposited and then distributed to programs and funds. The SYFP identifies the planned funding for allocation to Highways, Rail, Transit, Ports, Aviation, DMV, and Space Flight. The Fiscal Years 2026 – 2031 SYFP allocates $58.3 billion total.
- This includes the use of $1.5 billion of Route 58 Corridor Bonds, I-81 Financing, GARVEE Bonds and the new authorization for Special Structures Debt
- Transfers $6.4 billion to the three regions for transportation improvements
- Transfers $1.0 billion in dedicated revenue for WMATA Capital Fund
- Includes $554 million of dedicated fuel tax revenue for the I-81 Corridor Improvements
- Dedicates $18.1 billion for Maintenance and Operations
- Provides $16.8 billion for Construction
- Approximately $2.8 billion of Construction Funding represents Local and Regional Funding for Projects
After the conclusion of the 2025 General Assembly Session, the SYFP was updated to reflect legislative and other changes. Revenue updates include:
- $175 million General Fund dollars dedicated to Interstate 81 Corridor Program
- $7.8 million adjusted General Fund dollars dedicated to WMATA
- Coleman Bridge Toll Facility : -$2.9 million in FY 2026; -$31.0 million FYs 2027-2031
- 2025 Appropriation Act required that all rates, fees, tolls and other charges cease to be collected for the use of the George P. Coleman Bridge no later than January 1, 2026
- Any remaining amount due to Toll Facility Revolving Account will not be reimbursed (estimated at $25 – 28 million will be written off)
CTF 2026 Budget
The approved CTF 2026 budget revenues total $9.6 billion, which represents a decrease of 4.3% from the 2025 CTF budget.
VDOT 2026 Budget
The approved VDOT budget totals $8.3 billion. The Highway Maintenance and Operating Fund (HMOF) has an expected deficit of $816.9 million which will be filled with $284.2 million of federal funds and the crossover of $532.6 million of state funds from the Construction Fund.
DRPT Six-Year Improvement Program and FY 2026 Budget
DRPT presented its Six-Year Improvement Plan (SYIP) and its 2026 budget. Both were approved by the CTB.
The total DRPT SYIP 2026-2031 shows an investment of $7.1 billion in the Commonwealth’s transit and rail programs over the coming years. $5.317 billion of which is dedicated to transit, and $1.783 billion to rail.
In FY 2026, DRPT plans on investing $1.249 billion in state, federal, and local resources towards improving public transportation and rail capacity across the Commonwealth.
- The transit budget for FY26 is $1 billion.
- This is $11.1M less than draft FY26 budget.
- Decrease due to fewer planned capital expenditures in the updated projection and $7.8M less in General Fund distribution for WMATA.
To view the CTF and VDOT presentation, click here. To view the DRPT presentation, click here.
VACo Contact: James Hutzler