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Technical Advisory Committee submits candidate bond projects and implements quarterly reporting portal
Summary
The TAC submitted candidate bond projects by the August 1 deadline and the authority rolled out a private portal for quarterly local project reporting to support reimbursements and finance oversight.
Members received an update from the Technical Advisory Committee that it met in July and submitted regional applications and candidate bond projects by the stated deadline for consideration in a potential bond issuance.
TAC members reported they prepared and submitted CBTA regional project applications and, the day after regional applications were filed, the TAC submitted the candidate bond projects for consideration by the finance working group. The TAC and staff emphasized the importance of quarterly project reporting for active projects and said the authority now has a private member portal on its website for localities to submit quarterly local expenditure reports and schedule or scope updates.
Staff said the portal is intended to streamline submittal of local expenditures (the 50% return to localities under the distribution plan) and to provide finance committee with up-to-date project status before approving reimbursements. TAC members asked local technical staff to use the portal and to provide quarterly updates on expenditures, schedule changes and scope shifts as projects progress.
The TAC update also noted continuing coordination on VDOT standard project agreements presented elsewhere on the agenda.
