MEMORANDUM
TO:
MDTA Finance and Administration Committee Assistant Capital Program Manager Jennifer Stump
FROM:
SUBJECT:
First Quarter Review of FY 2026 Capital Budget vs. Actual Spending
DATE:
November 13, 2025
PURPOSE OF MEMORANDUM The purpose of the memorandum is to update the MDTA Finance and Administration Committee on the status of actual FY 2026 capital spending against the FY 2026 capital budget in the FY 2026-2031 Draft Consolidated Transportation Program (CTP). This information will be presented to the MDTA Board on November 25, 2025. SUMMARY As of September 30, 2025, 7.2% of the FY 2026 budget was spent as compared to the targeted spending level of 25%. The total budget for FY 2026 is $1.15 billion. The actual spending through the first quarter was $83.6 million. The first quarter percentage is low because there are outstanding accruals for work completed in FY 2025. ANALYSIS Ninety-five of the 102 projects budgeted in FY 2026 were within the acceptable spending limits of 0% to 50% (plus or minus 25% of the 25% target). Due to normal lags in invoicing, generally two months, a plus or minus 25% threshold was determined to be reasonable. Actual spending through the first quarter for ten projects with FY 2026 budgets over $10 million was $56.5 million. The ten projects are detailed in Attachment A. ATTACHMENT Attachment A – FY 2026 Capital Program Spending – Ten Projects with FY 2026 Budgets over $10 Million.
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