SFMTA staff report 2014 transportation bond 89% expended or encumbered; 2021C issuance needs accelerated spending

Rob Jacquez, capital budget manager for the San Francisco Municipal Transportation Agency, told the Budget and Finance Committee that the 2014 Transportation and Road Improvement general-obligation bond authorized $500,000,000 for Muni and other transportation projects. Jacquez said earlier issuances have largely been expended or encumbered and that, overall, “89% of the $500,000,000 have been expended or encumbered.”

Jacquez noted that the 2021C issuance is currently below the Internal Revenue Service's 85% expenditure target for tax-exempt bonds and that staff are analyzing programming and working with project teams to accelerate spending. The presentation included a breakdown showing that the majority of funds were directed to Muni Forward projects and other transportation investments; Caltrain electrification and upgrades were near fully expended, while traffic signal improvements were the least expended category.

Committee members praised staff outreach on projects such as Geary Boulevard, and one member thanked staff for prompt answers to appendix questions. Jacquez said staff plan to return to the committee with a plan to reprogram or accelerate spending for projects with residual balances.

The committee heard no in-person public comment on the item. The presentation emphasized ongoing work to ensure timely expenditure and compliance with tax-exempt bond requirements.

Next steps: SFMTA staff will return with recommendations to accelerate spending on the 2021C issuance and a plan to reprogram small remaining balances where appropriate.