Winter Storms Cause $8 Million Loss In Toll Revenue

toll snowHow much is a snowstorm worth? New Jersey Turnpike officials said they lost an estimated $8 million in revenue because of three winter storms during the first month of the year. And that doesn’t include the cost of plowing and salting. “We lost $8 million in toll revenue. Traffic was down 5 percent on both (toll) roads,” said Donna Manuelli, authority comptroller of revenue and finance. “The storms in February were quite costly.” February saw traffic drop by 13 percent on the Garden State Parkway and by 11 percent on the New Jersey Turnpike, she said. “Without those storms, traffic would have been flat on the Turnpike and up slightly on the Parkway,” Manuelli said.

Revenue for the first two months of 2010 was $1.5 million lower than the same period in 2009, she said. The authority brought in $151.2 million in January and February 2010.

Snow removal costs came to $14.46 million for January and February, financial reports said.

But there was a bright spot in those snow clouds. Toll revenue from commercial traffic on the turnpike increased by $108,000 in February, according to authority financial reports.

The authority also had some of the snow revenue losses offset by federal rebates from “Build America” bonds issued in May 2009 and from an increase in investment income. APP/Star Ledger

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