MEMORANDUM
Finance and Administration Committee
TO:
Director of Finance Chantelle Green
FROM:
Fiscal Year 2026-2031 Financial Forecast
SUBJECT:
June 12, 2025
DATE:
PURPOSE OF MEMORANDUM
To request approval of the fiscal year (FY) 2026-2031 financial forecast.
KEY TAKEAWAYS
• The Maryland Transportation Authority (MDTA) remains in compliance with its financial goals and legal standards through FY 2027.
• The budget for the Francis Scott Key (FSK) Bridge Rebuild reflects the original cost estimate that was prepared for the FSK Bridge Rebuild within two weeks of the bridge collapse. The cost estimate will be updated prior to the next MDTA bond sale. • Based on the current forecast estimates, beginning in FY 2028, a systemwide toll increase will be necessary to maintain 2.0 times debt service coverage throughout the remainder of the FY 2026-2031 forecast period. Tolls were last increased in FY 2014, which was followed by a reduction of tolls in FY 2016.
SUMMARY
This forecast includes the Fall 2024 Traffic and Revenue (T&R) Forecast Update, the Draft FY 2026 - 2031 Consolidated Transportation Program (CTP), and the Final FY 2026 Operating Budget. The forecast also includes adjustments (as necessary) to the modeled bond financing rates and incorporates a short-term borrowing to align with anticipated cashflows associated with the Key Bridge Rebuild . The summary table below shows the MDTA’s adherence to its financial goals and requirements throughout the forecast period. (See attachment)
2310 Broening Highway • Baltimore, MD 21224 • mdta@mdta.maryland.gov • 410.537.1000 • 711 (MD Relay) • mdta.maryland.gov • DriveEzMD.com
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