MEMORANDUM
TO:
MDTA Board
FROM:
Acting Capital Program Manager Jennifer Stump
SUBJECT:
Second Quarter Review of Fiscal Year 2026 Capital Budget vs. Actual Spending
DATE:
February 26, 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 presented to the MDTA Finance and Administration Committee on February 12, 2026. SUMMARY As of December 31, 2025, 28% of the FY 2026 budget was spent as compared to the targeted spending level of 50%. The total budget for FY 2026 is $1.15 billion. The actual spending through the second quarter was $324.4 million. ANALYSIS Thirty-two of the 102 projects budgeted in FY 2026 were within the acceptable spending limits of 25% to 75% (plus or minus 25% of the 50% target). Due to normal lags in invoicing, generally two months, a plus or minus 25% threshold was determined to be reasonable. Actual spending through the first quarter for ten projects with FY 2026 budgets over $10 million was $252.8 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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