MEMORANDUM
TO:
MDTA Board
FROM: SUBJECT:
Assistant Capital Program Manager Jennifer Stump
Fourth Quarter Review of Fiscal Year 2025 Capital Budget vs. Actual Spending
DATE:
September 25, 2025
PURPOSE OF MEMORANDUM The purpose of the memorandum is to update the MDTA Board on the status of actual Fiscal Year (FY) 2025 capital spending against the FY 2025 capital budget in the FY 2025-2030 Draft Consolidated Transportation Program (CTP). This information was also presented to the MDTA Finance and Administration Committee on September 11, 2025. SUMMARY As of June 30, 2025, 65% of the FY 2025 budget was spent as compared to the targeted spending level of 100%. The total budget for FY 2025 was $809.8 million. The actual spending through the fourth quarter was $525.3 million. ANALYSIS Eight of the 91 projects budgeted in FY 2025 were within the acceptable spending limits of 90% to 110% (plus or minus 10% of the 100% target). The variation is decreased from the 25% reported for the first, second, and third quarters because all allocations, accruals, and FY 2025 invoices were posted. Actual spending through the fourth quarter for ten projects with the highest FY 2025 budgets was $393.3 million. The ten projects are detailed in Attachment A. ATTACHMENT • Attachment A – FY 2025 Capital Program Spending – Ten Projects with highest FY 2025 Budgets
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