TxDOT's $1.1 Billion Accounting Error- NOT the Texas Lege's Fault- but BookkeepingSomervell County Salon-Glen Rose, Rainbow, Nemo, Glass....Texas


 

TxDOT's $1.1 Billion Accounting Error- NOT the Texas Lege's Fault- but Bookkeeping
 


6 February 2008 at 12:15:57 PM
salon

and the Texas Lege is not happy about it. What's funny is that, without Ric Williamson (who died recently) there to keep off the questions,the whole ugly story was laid bare to the aghast.

Bottom line: TxDOT was headed into the red — $3.6 billion by 2015. The agency said it would have to slice out $1.1 billion in projects this fiscal year, on top of $900 million pushed back months before because projections had been too optimistic. That left just $3.1 billion for construction, way down from $5 billion in 2006, dubbed the "go-go year." 

But what wasn't widely known, until Tuesday, was that the $1.1 billion was an accounting error. That money was never there to begin with — some bean counters or planners had tallied some bond proceeds twice.

"Let me state right off that we should have done a better job of anticipating this state of affairs," TxDOT Director Amadeo Saenz said in a written statement to senators.

Kip Averitt, who is our Senate District 22 Texas Senator, was not happy about the cuts.

The Texas Department of Transportation made a billion-dollar error, officials with the agency admitted Tuesday under stern questioning from legislators, a mistake they said contributed significantly to the department’s sudden cash crunch.

Transportation department officials say agency planners inadvertently counted $1.1 billion of revenue twice, a mistake that caused them to commit to more road projects than the agency could handle. And about $225 million of the resulting cuts came from projects in the transportation department’s Waco district, said state Sen. Kip Averitt, R-Waco, who attended the hearing.

The Waco district, encompassing eight Central Texas counties, received a greater proportion of the cuts “by far” compared with the transportation department’s 24 other districts, he said.

“We can’t let stand having Waco take the brunt of the process,” Averitt said in a Tribune-Herald phone interview after the hearing. “The folks in Central Texas are paying their fair share of the taxes and we are due our fair share of the road improvements.”


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Comments

salon > Quick update on this, via Pacer-Click on pic to see larger (Turk Case Update- Telephone Conference Hearing Set for March 8 2019 )

salon > Lance Been awhile. Send me an email at salon@glenrose.net with the names of who you're talking about, above. Also, the newspaper editor is no longer local, ie officed here, but the paper is run.... (What Happened to Jerry Jacene? )

LanceHall > I'd love to see the Hotel Guest books and see if Jacene's name shows up long before he officially *found* the tracks.  I'd like to know if the Visitor's Bureau has emails wit.... (What Happened to Jerry Jacene? )

LanceHall > I see the land or that part of it is now in the hands of Glen Rose's own Corky Underwood. Is Jacene still involved?   I had already informed the Visitor Bureau manager (who's.... (What Happened to Jerry Jacene? )








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