July 23, 2014 at 2:10 p.m.
Money may be leftover
Jay County Building Corporation
Once the final bills for the Jay County Jail construction project are paid, the Jay County Building Corporation could have around $156,000 available for other improvements.
Project manager Jeff Badders of SchenkelShultz Architecture gave the building corporation a breakdown of the construction account’s balance.
The account has $1.177 million, with about $225,000 remaining to be paid to contractor Weigand Construction and $535,000 for reimbursement of county expenses. There is also about $260,000 in expected costs, including purchases that haven’t been billed yet and purchases that have yet to be made, such as a water softener for the jail.
This leaves about $156,000 left in the construction fund, which could either be used for additional jail-related purchases or could be used for a bond payment.
The construction project had a contingency fund built into the total to cover unexpected costs. Although the building corporation has approved some change orders on the project, no major unexpected expenses popped up during the build.
Due to the way bonding is set up, however, if the money was put back toward paying off the loans, the amount would be attributed to the last bond payment and would mean a minimal savings in interest, making it more likely that the county will look toward utilizing the money for additional improvements.
Badders said if the building corporation decides to spend the remaining funds, “It has to be used on something related to the jail project.”
In recent months, the Jay County Commissioners have discussed either purchasing an existing property on the south side of Water Street across from the jail or perhaps building a pole building near the jail to be used for storage.
In other business, the building corporation approved a change order totaling $19,678.22 for several items including earthwork, microphones in the booking area and key switch for the sewage grinder pump control panel on the outside of the building.
The board then approved the monthly claims, totaling $120,130.20.[[In-content Ad]]
Project manager Jeff Badders of SchenkelShultz Architecture gave the building corporation a breakdown of the construction account’s balance.
The account has $1.177 million, with about $225,000 remaining to be paid to contractor Weigand Construction and $535,000 for reimbursement of county expenses. There is also about $260,000 in expected costs, including purchases that haven’t been billed yet and purchases that have yet to be made, such as a water softener for the jail.
This leaves about $156,000 left in the construction fund, which could either be used for additional jail-related purchases or could be used for a bond payment.
The construction project had a contingency fund built into the total to cover unexpected costs. Although the building corporation has approved some change orders on the project, no major unexpected expenses popped up during the build.
Due to the way bonding is set up, however, if the money was put back toward paying off the loans, the amount would be attributed to the last bond payment and would mean a minimal savings in interest, making it more likely that the county will look toward utilizing the money for additional improvements.
Badders said if the building corporation decides to spend the remaining funds, “It has to be used on something related to the jail project.”
In recent months, the Jay County Commissioners have discussed either purchasing an existing property on the south side of Water Street across from the jail or perhaps building a pole building near the jail to be used for storage.
In other business, the building corporation approved a change order totaling $19,678.22 for several items including earthwork, microphones in the booking area and key switch for the sewage grinder pump control panel on the outside of the building.
The board then approved the monthly claims, totaling $120,130.20.[[In-content Ad]]
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