CIAC seeks clearer cost transparency as first Major Projects Quarterly Report is released

The Citizen Infrastructure Advisory Committee reviewed the agency's first Major Projects Quarterly Report and asked staff to tighten presentation of costs, funding sources and estimating assumptions. Kat Silva, strategic operations manager for Delivery Operations, said the report is intended "to provide information, for more accountability and transparency and kind of risk awareness on these projects." The committee responded with specific requests for an executive-summary table showing original bid price, current cost position and causes for any delta.

Members asked that the packet include a consolidated sources-and-uses chart showing federal, state and local funding by project, clearer labeling of inflation rates used for near-term versus long-range estimates, and a streamlined presentation of change orders (cumulative and large-ticket items). Vice Chair Buyer noted that inflation assumptions looked inconsistent across projects and that some estimates "seemed awfully low" compared with current market experience. Staff said they will standardize how inflation is shown and add explanatory text in the report introduction. The committee asked staff to finalize changes prior to the May commission meeting and to submit the report to the legislature as part of the agency's new reporting requirement.