Jeffrey S. Rosen Samuel D. Snead, MCP, MA John F. von Paris Frank S. Waesche III
MEMORANDUM
TO:
MDTA Finance and Administration Committee Acting Capital Program Manager Jennifer Stump
FROM:
SUBJECT:
Third Quarter Review of FY 2026 Capital Budget vs. Actual Spending
DATE:
May 14, 2026
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 May 28, 2026. SUMMARY As of March 31, 2026, 44.5% of the FY 2026 budget was spent as compared to the targeted spending level of 75%. The total budget for FY 2026 is $1.1 billion. The actual spending through the third quarter was $512.9 million. ANALYSIS Twenty-eight of the 102 projects budgeted in FY 2026 were within the acceptable spending limits of 50% to 100% (plus or minus 25% of the 75% target). Due to normal lags in invoicing, generally two months, a plus or minus 25% threshold was determined to be reasonable. The Key Bridge Rebuild was at a 36.2% spend rate while the remaining projects in the CTP were at a cumulative spend rate of 56.5%. Actual spending through the third quarter for ten projects with FY 2026 budgets over $10 million was $412 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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