SACRAMENTO — An estimated 15,000 jobs may have been created or retained with state highway projects funded by federal stimulus funds, according to a report released Monday by the Legislative Analyst's Office.

The jobs figure is only an estimate because the reporting from employers is incomplete, the LAO said, but is likely based on the swiftness with which Caltrans, the state Department of Transportation, has put out to bid contracts for most of the nearly $1 billion in American Recovery and Reinvestment Act funds for highway projects. Nearly half of the "shovel-ready" projects are in motion.

The federal funds are part of $46.7 billion in transportation dollars made available nationwide from the $787 billion stimulus package approved by Congress and signed by President Barack Obama in February.

In total, California is eligible for $3.7 billion, including about $2.6 billion for highways and roads, and about $1.1 billion for transit programs.

A problem, the LAO said, is that local transportation agencies have been slow in awarding contracts, and may lose the money if they don't speed up the process.

Their slow progress in awarding construction contracts has also meant that their projects have yet to provide "much, if any, economic stimulus to California's economy," the LAO concluded. Local contracts for only one-third of the ARRA funds have been put out to bid.

As required by state law, Caltrans is funding mainly

Of the $883 million Caltrans has put out to bid, 52 contracts of about $400 million have been awarded, including seven in the Bay Area worth $50 million.

Caltrans has made available $512 million for roadway reconstruction, rehabilitation, and resurfacing; $271 million for new roadway capacity; $128 million for bridge replacement and rehabilitation; $84 million for operational and safety improvements; $38 million for transportation enhancements (such as bicycle lanes, pedestrian facilities, and landscaping).

Of about $1.6 billion geared toward local agencies, they have put out to bid about $530 million — 33 percent — of their federal road funds, awarding $444 million in contracts.

Many local agencies said that projects they planned to fund with federal stimulus funds were not "truly shovel-ready," the LAO reported, or did not have a federal environmental review completed when the funds became available. There is also confusion about which types of projects are eligible for stimulus funding, the LAO said, among other issues.

The LAO is calling for legislative oversight hearings to see if any actions are needed to ensure California meets various federal deadlines.

Reach Steven Harmon at 916-441-2101.