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Committee hears road-program finance update: $8.9M collected; $5.5M available before Greenbelt purchase
Summary
County staff reported $8.9 million collected through July 31, $3.4 million spent and roughly $5.5 million remaining; a pending $2 million greenbelt purchase will reduce available green-space funds and staff said another quarterly payment is expected in September.
The Jasper County transportation committee received a financial update on its road program during the workshop. "We have collected, $8,900,000, so far that includes both, the tax, collection and interest that we have received at the bank," said Iwaniki, the staff presenter. He reported total expenses of about $3.4 million, leaving roughly $5.5 million available.
Committee members asked whether collections are tracking below the original projections. Josh pressed staff on whether the program is "still tracking lower," and Iwaniki replied the program is "right on" the early-stage track but that the referendum anticipated more growth in later years. He told the committee to expect another quarterly payment in September, with a recollected quarterly amount in the ballpark of the previously discussed $2.728 million.
The chair flagged that a scheduled $2,000,000 purchase tied to the greenbelt program will temporarily reduce green-space funds. Iwaniki said the county expects that the next collections cycle will restore those balances. The update concluded with staff inviting questions about budgeting, cash flow and potential bonding to support larger projects.
