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TO: |
Board of Trustees |
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THROUGH: |
Jay Fox, Executive Director |
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FROM: |
Viola Miller, Chief Financial Officer |
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PRESENTER(S): |
Viola Miller, Chief Financial Officer |
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Daniel Hofer, Director - Capital Programming and Support |
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TITLE:
title
TBA2026-03-02 - Technical Budget Adjustment - 2026 Capital Budget
end
AGENDA ITEM TYPE:
Other Approval
RECOMMENDATION:
Approve TBA2026-03-02 to authorize the transfer of $9,704,000 between various projects within the 2026 Capital Budget as presented.
BACKGROUND:
Board Policy 2.3 Budget allows the Board of Trustees to amend or supplement the Authority’s budget after its adoption. The Board may do this through a Technical Budget Adjustment (TBA) when the request does not increase budget authority, or through a Budget Amendment, after consultation with the Local Advisory Council, when an increase in the annual appropriation authority is requested.
DISCUSSION:
This proposed Technical Budget Adjustment will transfer a total of $9,704,000 between 16 projects, including the Capital Contingency, within UTA’s 2026 capital budget to aid in project delivery this year.
These adjustments should better align the affected projects with the planned 2026 milestones, upcoming procurements, and anticipated expenditures through the end of 2026. Projects that have not completed previously planned work in 2025 that have slipped into 2026 are the main reason for this request. There has also been some unplanned rail maintenance work that needs to be completed soon that contributes significantly to this adjustment. Any contractual changes necessitated by these adjustments will come to the Board for approval according to required value thresholds. Tables found in the attached exhibit show the full impact of this Technical Budget Adjustment.
ALTERNATIVES:
The Board may reject or request revisions to the requested Technical Budget Adjustment.
FISCAL IMPACT:
The proposed TBA of $9,704,000 will be funded by the approved 2026 Capital Budget. Funds will be redistributed among the projects described in the presentation and supplemental material contained within this packet.
If TBA is approved, there will be a balance remaining in the Capital Contingency of $3,300,000. The funding source amounts for the Capital Contingency consist of UTA funds only. This TBA would have a net decrease of $1,700,000 to the Capital Contingency. Contingency funds will be used for the following: Light Rail vehicle repair project, rail switches and trackwork, Clearfield trail, TRAX Forward program, and 3300/3500 South project
There is no increase in budget authority. There is no impact on UTA’s Fund Balance.
ATTACHMENTS:
• TBA2026-03-02 - 2026 Capital Program_Exhibit
• TBA2026-03-02 - 2026 Capital Program_Rationale