Highway Funds Reach Over $2.3B as Hurricane Helene Recovery Continues

North Carolina’s combined highway cash balance totaled $2.32 billion for the week of October 17–23, according to the NC Department of Transportation. The weekly cash watch report shows financial support for ongoing road projects and recovery from Hurricane Helene, which caused significant damage across the state last year. The balance comprises funds from the Highway Fund, the Highway Trust Fund, and cash reserves held by the trustees.

The state began the week with $2.73 billion in cash and bond proceeds and added $308.4 million in receipts. This includes $38.4 million in federal reimbursements for disaster recovery related to Hurricane Helene. These reimbursements come from the Federal Highway Administration and the Federal Emergency Management Agency. To date, North Carolina has spent over $909 million in the 2025 fiscal year and $240 million in the 2026 fiscal year addressing storm-related damages.

During the week, the state spent $185.8 million, with $70.7 million going to construction projects managed by the North Carolina Department of Transportation. Disaster-related costs totaled $25.7 million, while $38.4 million covered payroll for highway employees. Other spending included maintenance and operations, as well as programs for ferries, public transportation, aviation, and rail, totaling $28.2 million.

State officials also maintained $125 million in a Transportation Emergency Reserve, alongside $130.9 million in unspent Build North Carolina bond proceeds and $270.9 million from GARVEE bond funds. GARVEE stands for Grant Anticipation Revenue Vehicle, which allows the state to borrow against future federal highway funds for major projects.

By the end of the week, the Highway Fund balance stood at $1.32 billion, and the Highway Trust Fund balance was $1.01 billion, both comfortably above the statutory minimum cash floor of $692.6 million, a requirement that ensures the state maintains enough reserves for emergencies and ongoing road work.

For Rutherford County residents, this means continued support for local roads and bridges, including repairs and improvements damaged by Hurricane Helene. Federal disaster reimbursements help the state reduce the burden on taxpayers while keeping projects on schedule.

At the end of September 2025, North Carolina had $9.83 billion in open commitments in its financial systems, with cash on hand covering 25.65% of these obligations. Officials say that the combination of bond proceeds, highway funds, and federal reimbursements ensures that communities across the state, including Rutherford County, can continue to maintain safe and reliable transportation infrastructure.