The Annual Report on New Starts is a collateral document to the President's annual budget submission to Congress. It is meant to be a constructive element in the administration of the Federal transit assistance program, enriching the information exchange between the Executive and Legislative branches at the beginning of an appropriations cycle for the next Fiscal Year.
The President's budget for FY 2001 proposes that $1,058.40 million be made available for the §5309 major capital investment program. After setting aside a percentage of these funds for oversight activities as specified in §5327, and for ferry capital projects in Alaska or Hawaii as required by §5309(m)(5)(A), $1,040.14 million is available for project grants. This report recommends funding for 38 projects in FY 2001; of these, 14 have existing Federal funding commitments in the form of Full Funding Grant Agreements (FFGAs), FFGAs are pending for three, 11 are expected to be ready for FFGAs before the end of FY 2001 (i.e., September 30, 2001), and ten are nearing the final stages of preliminary engineering.