BRADENTON, Fla.  — Georgia's State Transportation Board Thursday adopted a financial management plan to pay down an estimated $1.2 billion deficit at the Georgia Department of Transportation in order to balance the fiscal 2008 budget.

The 13-member board approved a plan that included using $473 million in advance construction funds and receivable payments available from the Federal Highway Administration, $31.3 million in interest from grant anticipation revenue vehicle bonds, and $23 million in federal reimbursements on Garvee bond debt payments.

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