Jeffrey S. Rosen Samuel D. Snead, MCP, MA John F. von Paris Frank S. Waesche III
MEMORANDUM
TO:
MDTA Board
FROM: Capital Program Manager Jennifer Stump SUBJECT: Fourth Quarter Review of Fiscal Year (FY) 2026 Capital Budget vs. Actual Spending DATE: September 24, 2026 PURPOSE OF MEMORANDUM The purpose of the memorandum is to update the MDTA Board on the status of actual Fiscal Year (FY) 2026 capital spending against the FY 2026 capital budget in the FY 2026-2031 Draft Consolidated Transportation Program (CTP). This information was also presented to the MDTA Finance and Administration Committee on September 10, 2026. SUMMARY As of June 30, 2026, 73.2% of the FY 2026 budget was spent as compared to the targeted spending level of 100%. The total budget for FY 2026 was $1.1 billion. The actual spending through the fourth quarter was $845 million. ANALYSIS Nine of the 102 projects budgeted in FY 2026 were within the acceptable spending limits of 90% to 110% (plus or minus 10% of the 100% target). The variation decreased from the 25% reported for the first, second, and third quarters because all allocations, accruals, and FY 2026 invoices were posted. 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%. Actual spending through the fourth quarter for ten projects with FY 2026 budgets over $10 million was $691.3 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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