6.
Finance
February Transportation Committee Finance Reports
A.
KDOT Dir. Zakosek stated the monthly financial reports were on file. He
announced that Senior Accountant, Ashley Young, has been promoted to the
Division of Transportation's Chief Financial Officer.
Transportation Improvement Plan (TIP)
B.
KDOT Deputy Dir. Rickert presented the Kane County Division of
Transportation's (KDOT) Draft Transportation Improvement Program for FY2025
through FY2029. He explained that KDOT is beginning to look into the five-year
financial planning efforts. He noted that this plan will include all the projected
revenues over the next five years. Additionally it will include information on
personnel, commodities, contractuals and the Transportation Improvement
Program (TIP). The TIP will include expansion projects, which include projects
that are in progress and projects that have been completed, but funding is still
owed to the Illinois Department of Transportation (IDOT) for KDOT's share of
the projects. (Committee Member Daugherty arrived remotely at 9:04 a.m.)
Rickert spoke on purchase orders. He stated that some purchase orders state
that the project was completed years prior, but the invoice from IDOT has not
been submitted to KDOT. Currently, there is approximately $90M worth of
contractual obligations. Rickert noted to get a clearer idea on where KDOT is
financially, one needs to look over the TIP. He stated that the TIP lists
expansion projects, modernization projects, safety projects, and preservation
projects. He noted that all the projects listed were approved by the Kane County
Board in prior years. KDOT has not added any new projects to this program due
to the County's financial restraints. Additionally, multiple projects are in Phase I
Engineering in order for KDOT to submit applications for outside funding
sources. Rickert stated that preservation/maintenance are the primary projects
that KDOT is responsible for. KDOT has about 68 structures to maintain and/or
replace on an annual basis, which costs $12M per year. Additionally, KDOT
expends approximately $13M a year for roadway paving, striping, and safety
aspects. Rickert stated that KDOT's annual reoccurring revenue is
approximately $52M, and about $50M in expenses for maintenance and
operations. This leaves approximately $1M to $2M for KDOT to match federal
funds, which is not a substantial amount. Rickert spoke on the financial
difficulties KDOT faces to maintain County roadways. He addressed KDOT's
contractual and commodities, such as vehicle replacements. Rickert stated that
by 2028, KDOT will be facing a $33M shortfall. This shortfall has been listed in
every KDOT financial plan over the last several years. KDOT has continued to
look into federal and state funding to address this financial gap. However, this
deficit will make it more difficult for KDOT to have local funds to match federal
funding. Rickert handed out an one-page summary: Transportation Improvement
Program (TIP) - Projected Revenues/Expenditures as of March 18, 2025. He
noted that this handout is a summary of KDOT's cash flow. He provided
examples of critical FY2026 to FY2028 projects within the TIP that utilize County
funding only. There are over $100M worth of required projects that must be
done within the next four years, such as intersection safety projects,
replacement of bridges, tree mitigation, and roadway improvements. Rickert