Home Local News IOWA D-O-T SHOWS $80 MILLION DEFICIT IN NEW FISCAL YEAR

IOWA D-O-T SHOWS $80 MILLION DEFICIT IN NEW FISCAL YEAR

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The state fund which pays for road construction in Iowa has a negative balance of around 80 million dollars one month into the new fiscal year.

The director of the division which oversees construction planning told the state Transportation Commission that will change.

Stuart Anderson of the D-O-T says they normally plan to be about 20 million dollars above the available money in case some projects run behind.

OC……..in its place” :15

He says the new fiscal year that started in July had 50 million more in projects than they had funding for — and then a 30 million dollar bridge project for Highway 2 in the flooded area of southwest Iowa was added.

Anderson says they normally take bids on one project each month, but had an unusual circumstance where they had several projects let.

OC………… west of Iowa City” :13

Anderson says the project bids came in higher than expected.

He says they are also not yet up-to-date on the amount of new funding coming in from receipts from the gas tax, license fees for cars and trucks, and fees for cars and trucks which are sold, and how that will impact the bottom line.

Radio Iowa