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Town budget snapshot shows $84,000 in owner's contingency; one change order on tonight's agenda
Summary
Staff reported most accounts near maximum and an owner's contingency balance of $84,000; the staff forecasted one change order just over $5,000 and said commissioning reports from IES remain contingent on outstanding work.
At the meeting staff presented the budget snapshot and highlighted that most accounts are near their expected maximums, with $84,000 remaining in the owner's contingency.
"We have 84,000 in owner's contingency," the staff presenter said while reviewing the snapshot. The presenter said one change order just over $5,000 was on the night's agenda and that commissioning agent IES still needs to complete final reports contingent on the HVAC and punch-list work.
Council members discussed retainage on contracts for Iapugio and KBE and asked staff to keep forecasted change orders visible so the town can anticipate liabilities. Staff said they track a small number of outstanding items, including a longstanding item referenced as a "hudi pad," and that forecasts help the council plan for payments and potential cancellations or additional meetings.
