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SFMTA reports $78 million spent on 2014 transportation bond; warns of market pressures
Summary
SFMTA told the oversight committee it has issued about half the 2014 Transportation GO Bond and expended roughly $78 million as of September; staff warned rising construction costs and fewer bidders could slow delivery and described steps to improve public outreach.
Monique Webster, senior manager of capital finance at the San Francisco Municipal Transportation Agency, briefed the committee on the status of the 2014 Transportation and Road Improvement General Obligation Bond. Webster said the bond, approved by voters in 2014, authorized $500,000,000 and supports more than 40 projects across eight investment categories, with the Muni Forward program and Muni facilities among the largest allocations (Monique Webster).
"So far a little bit under half of the bond funds have been issued to date," Webster said, and as of the September reporting period the SFMTA had recorded about $78,000,000 in expenditures and about $23,000,000 in encumbrances against approximately $240,000,000 of available funds (Monique Webster). Webster noted that some figures are preliminary because of data gaps in the citys new financial system (FSP).
Webster identified risks to project delivery including a tight construction market that raises costs and reduces the number of bidders, and the complexity of coordinating multi-agency projects (sewer/water/paving) which can introduce schedule delays. She also described programmatic changes inside SFMTA to start public outreach earlier and require formal engagement plans for projects (Monique Webster).
Several committee members and controllers staff raised governance questions about supplemental appropriations and the administrative controls that trigger board-level review. Peg Stevenson of the Controllers Office explained that the administrative code includes thresholds (for example, changes under roughly 15% can be straightforward depending on controls) and that initial allocation sizing can reduce the need for frequent supplemental appropriations (Peg Stevenson).
No formal committee action was taken. SFMTA staff said they would provide contacts and further detail in follow-up liaison meetings as requested by committee members.
