Get Full Government Meeting Transcripts, Videos, & Alerts Forever!
Get email alerts on the Tima Budget Votes topic
No spam. Unsubscribe anytime.
TIMA amends FY24–25 budget, adopts FY25–26 budget; board approves minutes
Summary
The Treasure Island Mobility Management Agency approved an amendment reducing FY24–25 revenues and expenditures by $3,517,851, adopted the FY25–26 budget and work program, and approved prior meeting minutes. The FY25–26 plan includes a federally funded ferry terminal enhancements project and other capital priorities.
The Treasure Island Mobility Management Agency Board (TIMA) voted on three action items at its June 24 meeting: approving prior minutes, adopting a revised FY24–25 budget amendment and adopting the FY25–26 annual budget and work program.
On item 4, the board approved the minutes of the Feb. 25, 2025 meeting. Commissioner Walton moved and Commissioner Fielder seconded the motion; the clerk called the roll and the board recorded seven ayes and the minutes were approved.
On item 5, the board adopted an amendment to the adopted FY24–25 budget to decrease revenues and expenditures by $3,517,851 with no change to other financing sources. Assistant Deputy Director for Planning Swanee Cho told the board the reduction was driven largely by moving construction of the ferry terminal enhancements project from FY25 to FY26 after engineering estimates and federal procurement reconciliation took longer than anticipated, and by slower advancement of the toll and affordability system. The motion was moved by Commissioner Chen and seconded as recorded in the clerk’s notes; the motion was adopted by roll call as announced by the clerk.
On item 6, the board gave final approval to the proposed FY25–26 annual budget and work program, which covers July 1, 2025, to June 30, 2026. Swanee Cho presented the proposed FY25–26 work program, which TIMA said is limited to activities for which funding is secured. Among the items the memo and presentation listed were ferry service plan development and an operating agreement with SF Bay Ferry and TIDA, a parking management program coordinated with SFMTA and TIDA, continued work on a toll and affordability program (including National Environmental Policy Act-related documentation), and construction of the ferry terminal enhancements project. Cho said the ferry terminal enhancements project is funded by a federal grant that has been obligated and matched with a state grant; the board received bids and staff expects to return to the Transportation Authority board in July for approval to award a construction contract. The board voted to adopt the FY25–26 budget; the clerk recorded eight ayes.
Budget and project details presented to the board included the following: TIMA reported a $3.1 million federal grant line for the ferry terminal enhancements project within the FY26 funds; the agency said it submitted a $71 million application to the Senate Bill 1 Solutions for Congestion Relief Program (SCCP) for a multiuse pathway but was not recommended for funding in this round; and the Westside Bridges and Hillcrest Road improvement projects are about 50% complete, with the Westside Bridges project on budget and scheduled to open in late 2026.
Cynthia Fong, Deputy Director for Finance and Administration, presented item 7 as an information item: TIMA reported total assets of $1,400,000, total liabilities of $326,000, total revenues of $587,000 and expenditures of $379,000 for the first nine months of FY24–25, with approximately $61,000 under budget for the period. Board members had no questions during the presentations, and no public comments were recorded for these items.
Votes at a glance: - Item 4 — Approve minutes of 02/25/2025: Moved by Commissioner Walton; seconded by Commissioner Fielder; recorded result: 7 ayes; outcome: approved. - Item 5 — Amend FY24–25 budget to decrease revenues and expenditures by $3,517,851: Moved by Commissioner Chen; second recorded in clerk's notes; recorded result: motion adopted (roll call taken); outcome: approved. - Item 6 — Adopt FY25–26 annual budget and work program: Moved by Commissioner Sherrill; seconded by Commissioner Walton; recorded result: 8 ayes; outcome: approved.
What to watch next: TIMA staff said they expect to return with a contract-award recommendation for the ferry terminal enhancements project in July; staff also said they will continue to seek alternative funding sources for projects affected by the EPA grant termination and will report back on legal and funding developments.
