OPEN SESSION SEPTEMER 11, 2025 PAGE THREE OF THREE
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 2025 compared to projected spending as shown in the FY 2025-2030 Draft Consolidated Transportation Program. As of June 30, 2025, 65% of the FY 2025 capital budget was spent as compared to the target of 100%. The projects with the two largest amounts of underspending were the Key Bridge Rebuild and Phase I of the Eastbound Bay Bridge Deck Rehabilitation. The underspending for the Key Bridge was largely the result of a shift in the timing of the demolition of the former bridge structure and a delay in the test pile program. The underspending associated with the Eastbound Bay Bridge Deck Rehabilitation was primarily the result of a scope change that moved a significant portion of the anticipated work from Phase I to Phase II of the project. UPDATE – FOURTH QUARTER TRAFFIC AND REVENUE 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. For the year ended June 30, 2025, overall collected revenue was above forecast by $35.1 million. The variance in the amount of revenue collected above the forecast was due to higher than forecasted video toll and civil penalty revenue collections by the State of Maryland’s Central Collections Unit.
There being no further business, the meeting of the Finance Committee adjourned at 9:43 a.m., following a motion by Member Ardinger, and seconded by Member Rosen.
_________________________________________________ John von Paris, Chairman
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