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CVTA committee updates regional allocations list; staff asks jurisdictions to confirm start dates for delayed projects
Summary
Staff presented an informational update showing which allocated projects have passed their planned start dates without reimbursement requests. CVTA staff asked jurisdictions to report best estimates for when delayed projects will need funds so the authority can better manage investment and reprogramming decisions.
CVTA staff presented an informational update on regional project allocations and reimbursements, identifying projects that have passed their planned expenditure start dates but have not yet submitted reimbursement requests.
The staff handout showed projects color-coded (pink) where jurisdictions have missed their first planned expenditure year under the last adopted allocation plan. Staff cautioned that the allocation plan does not necessarily reflect on-the-ground project schedules and said the report is intended to prompt local jurisdictions to report updated start dates so CVTA can manage cash and investment decisions.
CVTA treasurers and members said jurisdictions should report best estimates for when they will need the funds. If a project is not expected to start for one to two years, staff said that money can be placed in longer-term investments. Staff updated reimbursements through Aug. 27 for the report.
Committee members noted that project delays are common given bid fluctuations, design schedules and other local factors, and they urged jurisdictions to provide accurate start-date estimates so CVTA can make appropriate short- or long-term investment choices.
This was an information-only item; no formal action was taken. Staff said the finance committee and TAC will continue gathering status updates from localities and will refine tools to show available project dollars at any given time.
