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Surrey Road project overruns estimated at about $2 million; committee requests accounting
Summary
A committee member asked for a tally of cost overruns on the Surrey Road project; finance staff estimated overruns are "around that $2,000,000 mark" and agreed to provide an accounting next week and to circulate related invoices and status information.
A member of the committee asked whether the town has an estimate for cost overruns on the Surrey Road project. Speaker 5 estimated the overruns are "around that $2,000,000 mark right now" and agreed to provide a detailed accounting and any outstanding invoices to the committee.
Speaker 2 requested that someone provide an accounting next week showing where the project stands and noted concern about how far overruns might continue. Speaker 5 said they did not know the exact total off the top of their head earlier in the exchange but later provided the approximate $2,000,000 figure and said they would make a note and send out the requested information.
Why it matters: Cost overruns on capital projects can affect capital budgets, operating budgets, and future spending decisions. Committee members requested a follow-up accounting so the group can assess current exposure and any pending invoices.
Next steps: Speaker 5 committed to sending the accounting and related documents to the committee; the meeting record does not document a formal vote or an allocation to cover the overruns.
