Town of West Seneca - Capital Project Management (2019M-195)

Publisher's summary

The Board did not properly plan and manage the capital project and clearly inform taxpayers when the estimated cost and scope of the project changed. In addition, the Board was not fully transparent on the anticipated project costs. As a result, original estimates were $9.8 million and increased by more than $3.6 million after competitive bids were received. When inaccurate costs are included in project estimates, there is an increased risk that the Board may issue more debt than necessary to finance the project because funding is available to pay for costs that were not within the original project scope. Finally, Town officials did not ensure an itemized project budget outlining revenues and expenditures was maintained in the accounting records and periodically updated.