Austin's first quarterly bond report: $752 million of voter-approved money not yet spent

Austin voters have approved about $3.5 billion in city bonds since 2006. As of Sept. 30, about $752 million of that had not yet been spent, according to the city's first Bond Programs Quarterly Report, sent to the council Oct. 16 by Assistant City Manager Mike Rogers.

The timing matters. Early voting ends Friday on Propositions A and B, which would authorize $295 million more for parks and libraries. Unspent money from past bonds was a central argument in the council's debate over whether to put them on the ballot.

What the report shows

The city tracks eight bond programs. As of Sept. 30, the report says:

| Program | Authorized | Spent | Unspent | |---|---|---|---| | 2016 Transportation | $720 million | 73% | $194.3 million | | 2018 Comprehensive | $925 million | 85% | $141.4 million | | 2020 Transportation | $460 million | 61% | $179.7 million | | 2022 Affordable Housing | $350 million | 35% | $228.2 million | | All programs since 2006 | $3.48 billion | 78% | $752 million |

The 2010 and 2013 programs are fully spent, and the 2006 and 2012 programs are nearly done and will drop off future reports.

Some details inside the 2018 package stand out. Proposition B, for libraries, museums and cultural centers, is about 51% spent, with $62.9 million left. A $15 million allocation for the Mexic-Arte Museum is less than 1% spent and still in design, and a separate $5 million 2006 allocation for the museum is 40% spent. The 2018 flood and open space money, by contrast, is nearly 99% spent.

Across all programs, 1,698 projects, or 78%, are complete. Another 143 are under construction, 118 are in design and 152 have not started. Sixty-three have been canceled, with their money reallocated or being reallocated.

The report is a new tool from Austin Capital Delivery Services. It will come out every quarter alongside the city's Austin Bond Dashboard, launched this month, which tracks projects from the 2016, 2018, 2020 and 2022 programs.

What our records add

What the council heard. At the Oct. 20 work session, Capital Delivery Services staff said the department manages 467 projects with a combined budget of $10 billion, and an assistant director described the new dashboard and quarterly report. Council Member Marc Duchen asked whether the city is still on track to spend 90% of prior bond dollars in 2027. Assistant Director Marcus Hammer said it is on track, and that staff would follow up on exactly when in 2027.

How the new bonds got on the ballot. On Aug. 4 the council voted 8-3 to move ahead with Props A and B, with Mayor Kirk Watson, José Velásquez and Duchen voting no. KUT reported that city staff had recommended waiting two more years. Our Oct. 23 story has each member's vote and the arguments. Prop B would put about $20 million toward the Hampton Branch at Oak Hill and $15 million toward a new Colony Park branch, KUT reported.

Planning ahead. The council approved a bond planning framework on Oct. 8 that looks toward 2028 and 2034 programs, our meeting records show. Staff said on Oct. 20 they are preparing a 2028 bond program.

What's next

Early voting runs through Friday, Oct. 30, and Election Day is Nov. 3. Polling places are on the Travis County Clerk's site. The next quarterly report would cover the period ending Dec. 31. The full report, with project-by-project tables, is attached to the city memo.