Local & Regional
Mon June 7, 2010
Road Contruction Budget
By Catherine Roberts
Oklahoma City, Okla. – A cut in the Oklahoma Department of Transportation's budget will not slow down the state's road construction, according to the department's director, Gary Ridley.
Funding will fall $28 million short of what was expected the previous fiscal year, which ends June 30. Reduced federal stimulus money is to blame for the shortfall.
Ridley says the budget cut should not be a problem, since ODOT will be able to issue $215 million in bonds later in the year.
Additionally, contractor's recent bids on the state's projects have been coming in about 15 percent below estimates, allowing the ODT to save money.