OPEN SESSION MAY 8, 2025 PAGE FOUR OF FOUR
UPDATE – THIRD QUARTER OPERATING BUDGET VERSUS ACTUAL SPENDING Mr. Jeffrey Brown updated the Finance and Administration Committee on actual versus projected year-to-date spending for the third quarter of FY 2025. As of March 31, 2025, 63% of the operating budget was spent compared to the target of 72%. Except for fixed charges, all Object Codes were at or below budget. UPDATE – THIRD QUARTER CAPITAL BUDGET VERSUS ACTUAL SPENDING Ms. Jennifer Stump updated the Finance and Administration Committee on actual year-to-date spending for the second quarter compared to projected spending as shown in the FY 2025-2030 Draft Consolidated Transportation Program. As of March 31, 2025, 36.5% of the FY 2025 capital budget was spent as compared to the target of 75%. The total budget for FY 2025 is $809.8 million. The actual spending through the third quarter was $295.9 million. UPDATE – THIRD QUARTER TRAFFIC AND REVENUE Mr. Walter Laun provided the Finance and Administration Committee with a quarterly and year- to-date update regarding traffic and toll revenue trends compared to the previous year and the forecast. The key takeaways regarding year-to-date traffic and revenue performance are that (1) for the period ended March 31, 2025, actual toll revenue (in-lane and administrative toll) was above the forecast by $20.0 million, or $23.5 million, when adjusted for timing differences; (2) video toll revenue was $4.2 million higher than forecasted; (3) civil penalty fee revenue was $21.6 million higher than forecasted; and (4) year-to-date toll transactions and revenue decreased compared to the same period last year by 3.2 million transactions and $19.3 million, respectively, due to the Francis Scott Key Bridge collapse.
There being no further business, the meeting of the Finance and Administration Committee adjourned at 9:42 a.m., following a motion by Member Rosen, and seconded by Member Carroll.
____________________________________ John von Paris, Chairman
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