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Panel proposes reallocating about $6.7 million in unspent capital funds; BGS details projects affected
Summary
A legislative reallocation committee reviewed a proposal from Buildings and General Services to reclaim roughly $6.7 million in unspent or excess capital funds from completed or canceled projects and redirect them within the capital budget to other bonded or cash projects, including corrections, veterans' housing, and monument maintenance.
A legislative reallocation committee reviewed a proposal Feb. 15 from Buildings and General Services to reclaim about $6.7 million in unspent or excess capital funds and reassign them within the capital budget.
The committee heard that the reclaimed money comes from a mix of completed contracts, canceled projects and older line items. "We're proposing to reallocate $399,000 ... contracts closed out because we've been trying to get this money back over a number of years," said Joe Adia, a Buildings and General Services presenter. Committee staff said much of the money originally was bonded and will be available for other bonded projects; a smaller portion is cash that can be used within the current capital bill.
Why it matters: The reallocations help the governor's capital plan and the legislature balance a multi-year capital spending package by returning unused funds to a common pool available for other projects. Committee members said the shifts could affect projects in corrections, veterans'…
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