The cities of Winfield and Arkansas City will qualify for more road work dollars after Gov. Jeff Colyer announced Monday that the Kansas Department of Transportation is returning to its previous formula of 90 cents on the dollar for the Federal Fund Exchange Program.
The program allows public agencies to sell all or part of their federal funds for state transportation dollars to fund local road work projects. The state funds provide greater flexibility of use and allow agencies to fund larger projects that may not have been possible with federal funding.
The 90 cents for every dollar exchange rate was in effect from 2011 until 2017 (for example, an agency wanting to exchange $100,000 in federal funds would receive $90,000 of state funds in return).
Last year, in response to the state’s ongoing revenue shortage, former Gov. Sam Brownback lowered the exchange rate to 75 cents on the dollar for fiscal year 2018.
(Read more: www.ctnewsonline.com)