Worcester homeowners are getting a 9.6% tax increase

Spreadsheet Question

 Looking at page 69-70



Funding Allocation column

  • Land Acquisition has a -7,676,014.37  loss
  • BallPark Construction has a total 10,810,460.10 positive
  • Net is 3,134,445.73
This means that the ballpark contract amount, even considering current adjustments, is coming in $10,810,460 below authorized funding.  

We just find it hard to believe that more change orders/expenses will be coming?






Comments

Anonymous said…
This spreadsheet makes absolutely no sense to me. I have two questions. First, can the excess funds of $3.1 million reference be used to offset the deficit of $1.8 million at the bottom of the second page? Second, I thought I understood the concept of capitalized interest, you borrow more money than you need to build something with the purpose of paying interest payments on the money you borrowed. If I am correct the amounts in the column labeled authorized funding exceeds the amount the City was going to borrow minus the capitalized interest that the have in their annual budgets, so the simple question is where did the extra money come from?
Anonymous said…
Do you think the City made this confusing on purpose?