OPEN SESSION SEPTEMBER 10, 2026 PAGE TWO OF TWO
APPROVAL – CLOSED MEETING SESSION #2 MINUTES FROM AUGUST 13, 2026 MEETING Member von Paris called for the approval of the minutes from the closed session #2 meeting held on August 13, 2026. Member Penny-Ardinger made the motion, and Member Rosen seconded the motion, which was unanimously approved. UPDATE – FOURTH QUARTER OPERATING BUDGET VERSUS ACTUAL SPENDING Jeffrey Brown updated the Finance and Administration Committee on the budget versus preliminary actual year-to-date spending for the fourth quarter of FY 2026. Mr. Brown advised that as of June 30, 2026, 94% of the operating budget was spent compared to a target of 100%. Higher than anticipated costs associated with employee overtime (due to weather-related events and MDTA Police vacancies), I.T. cost pressures, and property insurance were more than offset by lower-than-expected expenses across the remainder of the budget. UPDATE – FOURTH QUARTER CAPITAL BUDGET VERSUS ACTUAL SPENDING Jennifer Stump updated the Finance and Administration Committee on actual year-to- date spending for the fourth quarter FY 2026 compared to projected spending as shown in the FY 2026-2031 Draft Consolidated Transportation Program (CTP). As of June 30, 2026, 73.2% of the FY 2026 budget was spent as compared to the targeted spending level of 100%. Actual spending through the fourth quarter was $845 million. Ms. Stump noted that the Key Bridge Rebuild was at a 65% spend rate while the remaining projects in the CTP were at a cumulative spend rate of 85.2%. UPDATE – FOURTH QUARTER TRAFFIC AND REVENUE Chantelle Green 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. As of June 30, 2026, total revenue was $9.8 million above forecast. Collected revenue exceeded the forecast in the E-ZPass, Pay-by-Plate, and Administrative Toll Revenue categories. The largest driver of the increase, Administrative Toll Revenue, exceeded the forecast by about $12 million due to higher than forecasted civil penalty fee collections by the Department of Budget and Management’s Central Collections Unit. VOTE TO ADOURN There being no further business, Member von Paris called for a motion to adjourn the meeting at 9:24 a.m. Member Penny-Ardinger made the motion, and Member Rosen seconded the motion, which was unanimously approved.
____________________________________________ John von Paris, Chairman
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