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Oversight committee receives Measure P/S periodic report showing roughly $115.9 million in revenues and $90 million in expenditures
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Summary
The Measure P/S Oversight Committee reviewed a combined periodic report through March 31, 2026, reporting total revenues including interest of about $115.9 million, expenditures of about $90 million and an approximate fund balance of $25.8 million; members asked for more granular street-segment documentation and staff agreed to provide an electronic master guide and spreadsheet.
Rafaela, presenting the combined periodic report for Measure P/S, told the committee the fund’s total revenues including interest were about $115,900,000 through March 31, 2026, with total expenditures of about $90,000,000 and a fund balance near $25,800,000.
The report covered year-to-date numbers for July 1, 2025, through March 31, 2026. Rafaela noted year-to-date revenues of about $7,912,009.95 and year-to-date expenditures that the packet recorded as lower than expected; she described an increase in fund balance for the period of roughly $5,600,000. She characterized several line items: storm-drain work, sidewalks, pavement and ADA repairs were included in the expenses breakdown presented to the committee.
Committee members asked whether lower current expenditures were a timing issue because several large projects remain queued; Public Works staff replied that the shortfall was largely timing-related and that spending would accelerate as the utility and profile projects start. “It’s a timing issue,” staff said, noting large upcoming contracts and a busy construction season ahead.
Members pressed staff for more precise location detail for entries labeled “citywide” on the payment table. Staff acknowledged a character-limit in the payment table and offered to provide an 18‑page master guide and an Excel spreadsheet that would allow committee members to filter by street segment and project phase. “We can send that to you again in Excel format,” staff said.
The committee asked about specific projects: Via Esperanza permits (401/404) were submitted recently and staff expected a water-board response in the coming months; work on stormwater capture tied to pavement-triggered regulatory treatment was described for the Cannery Road watershed and the Cannery Row garage capture area. Staff also summarized contractor and in-house labor costs by category on the report’s payment pages.
After questions, the committee moved, seconded and approved receipt of the periodic report and unaudited expenditures by roll-call vote.
The committee asked staff to follow up on a handful of line items that appeared inconsistent in the packet (for example, an unexpected payroll or role entry listed under pavement) and requested the electronic project guide so members could independently verify which street segments fall under each citywide project.
Next steps: staff will circulate the Excel file and the longer master guide and follow up on flagged line items so the committee can reconcile project-level expenditures in the next meeting.
