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Jail construction shows small surplus after interest income and bond accounting, presenters say
Summary
Consultants told supervisors that bond proceeds plus realized interest left about $17.9 million available for the jail project as of May 31 and the accounting yields a modest surplus of roughly $15,662; remaining contingency was listed at about $24,001.63.
Consultants updating Page County on the jail project told the Board of Supervisors that the project’s accounting shows a modest improvement since earlier estimates.
Sid Samuels of the Samuels Group said the accounting as of May 31 shows funds available of about $17,902,744 after recognizing additional interest income and bond proceeds; after current estimates the project is carrying a surplus of roughly $15,662. "We are carrying a surplus currently right now of $15,662," Samuels said. He added that the project still has outstanding change orders under negotiation, and the packet includes a contingency log showing a remaining contingency line of $24,001.63.
Kurt Schleicher reviewed the contingency log and said two subcontractor items remain outstanding because the county and contractor are negotiating whether submitted numbers accurately reflect materials and work. Contractors, change orders, and all signed documentation were made available to the board in the meeting packet; staff offered to return with more detailed reconciliations if supervisors requested them.
