Title
Capital Improvement Program (CIP) Amendment: R334 - Interchange at I-235 and US-54 (Phase 1).
Body
Recommended Action: Amend the 2016 and 2017 capital budgets and the 2017 - 2021 CIP as proposed.
This project is a major enhancement to the State road network that will alleviate a significant safety issue. The total estimated cost of the project is $116,012,823. Ninety percent of the cost of the project is to be funded by the State, and the remaining $11,600,000 of required funding is to be provided by Sedgwick County. The project is scheduled to be under construction for three years, 2016 - 2018. The County's CIP has been adopted showing the entire cost and funding of the project, but in fact, the project will be completed by the State and the asset will be owned by the State. The only portion of the project that will be recorded in the County financial system is the County funding of $11,600,000; it will be recorded as infrastructure construction. The recommended action will amend the adopted capital budgets of 2016 and 2017 and the CIP of 2017 - 2021 to accurately represent County financial activity.
Alternatives: The Commission could reject the amendment, in which case the County's capital budgets and CIP would continue to misrepresent true County fiscal activity.
Financial Considerations: The following table shows the current adopted capital budget and CIP and the amended capital budgets and CIP for the interchange at I-235 and US-54 (Phase 1)
2016 2017 2018 Total
As adopted:
Expenditure
Capital Improvements 40,012,823 40,000,000 36,000,000 116,012,823
Total expenditure 40,012,823 40,000,000 36,000,000 116,012,823
Project funding
Other (sales tax) 867,698 1,500,000 1,100,000 3,467,698
Intergovernmental rev 39,145,125 38,500,000 34,900,000 112,545,125
Total funding 40,012,823 40,000,000 36,000,000 116,012,823
Amended:
Expenditure
Infrastructure con...
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