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6 6 Region. Orange County would get credit for the number of miles in the I-85 widening project. Nancy Baker: Do you get the credit if the project is complete? Mike Stanley: You get the money for the project to be completed but the fact is that you get the money if you complete it or not. Alice Gordon: I am not quite sure how the equity funds work over time. Mike Stanley: Basically it is tied into 7 year TIP. We have to apply this formula for each TIP. Each division has to be within a target they have configured and you can be within 10% of that number. That rarely happens in the real world. There is provision in the law that adjusts it. Each TIP cycle, you look back at the previous allocations and what the NCDOT actually authorized and you see where the imbalance is and you adjust the current TIP distribution by that equity factor. Alice Gordon: Sometimes it takes people by surprise. Orange County has not gotten its equitable share. Mike Stanley: It is a regional or divisional allocation. The 10 urban loops and CMAQ are not counted against the equity. The federal transit funds are typically awarded on an application grants basis. There is no set allocation. Discretionary money tends to be above the line or money off the top. Alice Gordon: In terms of grants, how does North Carolina fair with that money and how does that work? Mike Stanley: The federal funding process is convoluted. North Carolina has been known as a donor state. The share of money you get back from Washington is a percentage of all the money that goes to Washington form the Federal excise tax and truck taxes. If you are a donor state, the percentage of money that comes back is smaller than the amount you send to Washington, as a proportion of all the money sent to Washington. What was the total revenue and expenditure that came into the Trust Fund? What is the relevant share? Typically we get back 70% of what we send. TEA21 established the minimum guarantee, which says that each state should get back 90% minimum. It was theoretically raised to 92% in 2009. The rumor is the trust fund will go broke in 2009. Nancy Baker: How can it go broke? Mike Stanley: Washington is appropriating more out that it is taking in. Jan Grossman: What has made NC that kind of state?