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AOT finance bureau outlines large federal funding share, flood reimbursements and accounting workload
Summary
Candace Sumpos, AOT chief financial officer, told the committee federal dollars comprise about 54% of AOT’s budget (85% of that from FHWA), explained accounts payable/receivable workloads and said FHWA administrative reimbursement of about $6.2 million for the 2023 flood is expected to be finalized soon.
Candace Sumpos, chief financial officer for the Agency of Transportation, briefed the House Transportation Committee on the finance bureau’s structure, federal funding mix and ongoing flood‑related accounting work.
Sumpos said AOT’s accounts payable processes nearly 40,000 payments a year and that accounts receivable is responsible for drawing down federal funds, which make up about 54% of the agency’s budget; she said roughly 85% of that federal total comes from the Federal Highway Administration.…
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