JANUARY 28, 2014, Mt. Prospect, IL – According to Stateline, the online news publication of the Pew Charitable Trust, many states have charted a significant decline in spending over the last several months as funds from the American Recovery and Reinvestment Act of 2009, which served as a large-scale economic stimulus, dry up. For instance, state expenditures of federal money dropped 9.1 percent in 2012, while income from state taxes and other sources failed to offset those trends.
Cummins Allison, leading innovator of coin, currency and check processing technology as well as ATM solutions, explains how state highway and transportation agencies can save valuable time and resources by investing in automated cash counting machines to easily process toll system income.
Alternative Funding Options
State governments are on the look-out for alternate ways to establish new revenue channels and avoid dependence on federal stimulus money. One increasingly popular solution is to establish tollways on roadsthat experience heavy traffic on a regular basis.
As USA Today recently noted, the federal gas tax has been relatively ineffective in raising substantial amounts of money for state highway agencies in recent years. Americans not only drive less, but they are also purchasing more fuel-efficient vehicles. Those trends have made it more difficult for states to generate revenue to fund infrastructure improvement projects. Tollways offer states a viable option for raising these funds. In fact, recent data from the National Conference of State Legislatures stated that 42 states – as well as the District of Columbia – now have active tolling infrastructure on local highways.
Reducing the Toll of Backroom Processing
Additional tollways can equal more funds, but they can also lead to labor-intensive currency processing tasks. Cash continues to be one of the most common methods by which tolls are paid. While electronic devices are useful for residents who regularly commute on specific roadways, state governments still have significant opportunities to collect cash from visitors and non-commuters.
Counting totals at the end of the day can quickly become a time-consuming process without the proper technology tools in place. By investing in advanced money counters, employees from state agencies can save substantial amounts of time completing backroom tasks that would otherwise require hours of complicated work. Counting daily income from highway tolls in an efficient and accurate way is essential for state governments that are already experiencing the effects of limited revenue. An automated cash counter is a reliable way to reduce overhead and operational costs.
For more information on how advanced currency processing solutions can help state highway agencies reap the benefits of efficiency and reduced labor costs, visit www.cumminsallison.com.
About Cummins Allison
Cummins Allison is a global leader in developing solutions that quickly and efficiently count, sort and authenticate currency, checks and coin. We also offer a completeline of full-function automated teller machines (ATMs). Our leadership in technology and product innovation spans more than 125 years. CumminsAllison serves the majority of financial institutions worldwide, as well as leading organizations in retail, gaming, law enforcement and government. Ninety-seven percentof our customers would recommend our products and services.The company holds more than 350 patents and invests double the industry average in R&D. Our world-class sales and service network includes hundreds of local representativesin more than 50 offices in North America, wholly-owned subsidiaries in Canada, the United Kingdom, Germany, France, Ireland and Australia and is represented in more than 70 countries around the world. For more information, visit www.cumminsallison.com.
Carol Moore – Vice President Marketing
Cummins Allison Corp.
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