Houston toll revs soar

The Harris County Toll Road Authority (HCTRA) garnered $180m in its latest year (which ends 2/28/99 FY99) a rise of 27% over FY98’s $142m following increases in some toll rates together with the strong area economy. Expenses rose 9% to $68m, and that includes $40m of depreciation charges for a surplus of $112m vs $80m last year, a 40% improvement. HCTRA depreciates its roads over a 30 year period. Interest on debt is $101m. The tollster has $1.6b debt. HCTRA reports its first profit - $29m. The previous year it made a $3.5m loss.