Agenda

• Roll Call
• Approval of the MFAC Meeting Minutes – August 25, 2025
• August 2025 FY2026 Financial Report
  • Traditional vs Strategic Allocation Discussion
    • Creation of a Hybrid Model
• Old Business
  • Quarterly Grant Projects Update – September 2025
  • Revenue/Expense Recon of Capital Projects 2025 – September 2025
  • Budget Projection Update – October 2025
  • FY2024 Audit Update
    • FY2023/FY2024 Localities Credit Balance
  • Monthly Balance Sheet – November 2025
  • Project Reconciliation Report – WSP (pending)
  • Pending Action Items – August 25, 2025
    • Budget hours vs actual hours per locality
    • Overhead rate in FY2026 – indirect costs over direct costs
    • Schedule of state funds – Deferred ARPA
    • Add row to Passenger Revenue – to show the ERC Farebox variance
    • Quarterly updates on the Budgetary Stability Fund account
• New Business
• Adjourn