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Commission approves using EPCOG as fiscal agent to secure $2.8M capital-outlay funding
Summary
The commission approved entering into an agreement with the Eastern Plains Council of Governments (EPCOG) to act as fiscal agent to secure $2.8 million in capital-outlay funds; with the fiscal agent fee at 1%, staff said the city would pay $28,000.
Tucumcari — The commission voted to enter an agreement with the Eastern Plains Council of Governments (EPCOG) to serve as fiscal agent for a $2.8 million capital-outlay award the city received in February 2023.
City staff said the $2.8 million will help refurbish a steel water tank on Eleventh Street, complete the Hoover Tank Well site and cover roughly three quarters of a transmission-line replacement project. Staff also said securing EPCOG as fiscal agent is necessary to preserve the city’s Army Corps of Engineers $4.66 million grant, which requires matching and fiscal agency support.
Staff reported EPCOG’s fee is 1% of the $2.8 million award, equal to $28,000. City managers and staff said without EPCOG acting as fiscal agent the city risks losing both the $2.8 million award and the larger Army Corps funding.
Commissioners voted to accept EPCOG’s fiscal-agent services and authorize staff to sign the required agreements; staff said the arrangement will allow the water projects to proceed while the city continues work on its internal fiscal controls.
Ending — City staff emphasized that time is critical; they said failing to secure the fiscal-agent arrangement promptly could jeopardize both capital-outlay and Army Corps funding.
