Embedded Files
Definition
Definition
The City reports each transportation project's actual expenditures for the prior year when it publishes that year's Capital Improvement Program (CIP).
Thus, the City's expenditures for each project is reported to the public.
The CIP reflects both the fiscal status and the physical progress of each project.Omaha's Capital Inprovement Program (CIP), page 2
Status
Status
The City only reports 39% of the project expenditures...
... and what is reported doesn't balance with the City's financial reports:
Action
Action
The City must report each CIP project's complete expenditures - not just Street Bonds, but also all other funds - City, Other Local, and Federal funds.
The reported expenditures should balance with the City's audited financial reports.
In addition, each project's total expenditures to date must be included in the CIP to provide a complete view of each project's fiscal status.
Without this basic and obvious accounting, the CIP budgets and appropriations are meaningless. Once this data is added to the CIP, variances between expenditures and budgets, appropriations, or estimated project cost will be evident, and over time the City will improve.
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