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Committee approves $1.3 million transfer to record retainage for ARPA-funded building projects
Summary
DuPage County Finance Committee approved a $1.3 million budget transfer to record retainage payable tied to two near-complete building contracts, and members discussed the project funding mix and federal funds risk for the St. Joseph Creek drainage work.
The DuPage County Finance Committee on April 8 approved a budget-transfer request (25-0968) to move $1,300,000 from green and system infrastructure to building improvements to record year-end retainage for two construction contracts, including an HVAC replacement and a project listed in the packet as "White."
Jeff, a county staff member, explained that the transfer reflects retainage "that we hold back a percentage of money" at fiscal-year end to ensure contractors finish their work. "So the $1,300,000 is related to these two projects that are nearing the end and we can record this audit entry if you will for retainage," Jeff said.
Members asked whether the transfer meant funds were being spent immediately or merely held as a payable. Jeff and finance staff clarified the accounting treatment: the amount will be recorded in the ARPA fund as "retainage payable" and will be paid out later when contract obligations are complete. "So it's not actually a transfer of funds? It's more just holding back funds?" asked Member Desart. "Holding back funds. Yeah. And that's specific in contract language," Jeff replied.
Committee members also discussed the St. Joseph Creek drainage project, saying gates had been ordered and noting that much of that project's funding is federal. Mary Catherine, finance staff member, warned that if federal funds do not come through the county would have to identify other funding sources.
Formal action
The committee approved the transfer request 25-0968 (recording $1,300,000 as retainage payable for two near-complete projects). The transcript records the vote as "All in favor? Aye. Any opposed? Motion carries." No individual roll-call tallies were recorded in the supplied transcript.
Clarifying details
- Transfer amount: $1,300,000. - Purpose: record retainage payable for two near-complete contracts (one described as "White" and one HVAC replacement). - Funding source/fund: ARPA fund; staff said the payable will be recorded in the ARPA fund. - Risk note: St. Joseph Creek project includes federal funds; staff cautioned the county may need to identify alternate funding if federal dollars do not materialize.
