Accurate predictions of cash balances are essential to the month-to-month operations of transportation departments. The Virginia Department of Transportation (VDOT) relies on a general cash flow forecasting model to predict monthly outflows and inflows of cash to various activities. VDOT’s model was developed in the mid-1980s and reflects the realities of that time. Much has changed in the operational aspects of VDOT since then. The cash flow model was updated. The research focused on two components (or submodels) of the general cash flow model: the monthly factors submodel, which is used to forecast monthly expenditures on construction contracts, and the maintenance expenditures submodel, which is used to forecast monthly outlays on maintenance activities. The result was an update of the basic elements of the monthly factors submodel while, for the most part, retaining the original underlying methodology. The research yielded a new methodology for the prediction of monthly expenditures on maintenance. The new forecasting method is based on a regression equation.


    Access

    Download

    Check availability in my library

    Order at Subito €


    Export, share and cite



    Title :

    Review and Update of Virginia Department of Transportation's Cash Flow Forecasting Model


    Additional title:

    Transportation Research Record


    Contributors:


    Publication date :

    1997-01-01




    Type of media :

    Article (Journal)


    Type of material :

    Electronic Resource


    Language :

    English




    Assessment of Virginia Department of Transportation’s Use of Open-Forum Hearing Format

    O’Leary, Amy A. / Arnold, E. D. / Kyte, Cherie A. et al. | Transportation Research Record | 2001


    Assessment of Virginia Department of Transportation's Use of Open-Forum Hearing Format

    O Leary, A. A. / Arnold, E. D. / Kyte, C. A. et al. | British Library Conference Proceedings | 2001