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TA amends FY24‑25 budget, defers TIMA revenues and shifts projects to next fiscal year
Summary
The board reviewed a proposed FY24-25 budget amendment that reduces revenue by about $3.5 million and expenditures by about $8.9 million, largely driven by deferred TIMA work and slow reimbursement on certain SFMTA projects, producing a net increase in fund balance of roughly $5.4 million.
Finance Manager Lily Yu presented a proposed amendment to the adopted FY24-25 budget that would decrease revenues by approximately $3.5 million and decrease expenditures by about $8.9 million, yielding a projected net increase in fund balance of roughly $5.4 million.
Yu told the board the primary driver is timing: two large TIMA (Treasure Island Mobility Management Agency) efforts — construction for the Treasure Island Ferry Terminal enhancements and the TIMA toll and affordability program — are delayed and budgeted program revenues have been moved to the next fiscal year. The ferry terminal construction advertising occurred May 1, and staff anticipate awarding a construction contract in July 2025. Yu said the deferred revenues do not represent a loss of grants but a timing change.
The amendment also reduces capital project expenditures tied to SFMTA reimbursements: staff said a residential traffic calming program and portions of Vision Zero quick builds have been slow to submit reimbursement requests, prompting an $5.4 million adjustment to traffic congestion mitigation tax capital expenditures.
Walk San Francisco urged more transparency and faster delivery of safe‑street tools such as speed cushions; there was no roll-call vote transcribed in the provided record for this item but the board moved the item forward.
