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CVTA financial update: $81M collected in period; Jamis financial system goes live
Summary
Staff reported $81 million in tax collections for the reporting period, distribution allocations to localities/region/GRTC, $437,000 in operating expenses year‑to‑date, and that the Jamis financial management system went live on Jan. 1; investment yields have leveled off and portfolio yield is about 3.9%.
CVTA staff provided the committee with a quarterly financial update that included tax collection totals, operating expenses, the rollout status of the new Jamis financial management system and a December investment report.
Miss Shepherd reported tax activity through Dec. 31, 2025: "tax revenues on the left in orange, that's sales and use tax at 61,000,000, making up 75% of the total revenues funding CBTA and local fuels tax of 20,000,000 for a total of 81,000,000 in revenues for this period." She said distributions per the adopted ratio resulted in $40,000,000 (50%) to localities, $28,000,000 (35%) to the regional fund and $12,000,000 (15%) to GRTC for the period.
Operating expenses year to date for fiscal 2026 (July through December) were reported at $437,000. Shepherd said the Jamis financial management system went live Jan. 1 and staff are entering timesheets and processing payroll, accounts payable and invoices, but additional historical cost data must be migrated and NACHA functionality implemented; she estimated about 4–6 weeks of remaining work on reporting and forecasting functionality.
On investments, staff reported that interest earnings have leveled and portfolio yield slipped from about 4.8% a year ago to 3.9% today; pooled funds remain liquid. The committee discussed continuing to monitor yields and managing operating projections with the authority's fiscal agents.
Why it matters: These financial details inform decisions about how much funding is available for project programming and the timing of bond or grant strategies. The Jamis rollout represents a material systems change for CVTA accounting and reporting.
