As part of its efforts to reduce its reliance on bonds for city projects, the City of Hutchinson is implementing a new program to fund smaller projects in the upcoming fiscal year. At the April 7 Hutchinson City Council meeting, city finance director Angela Richard outlined the new hybrid program, which is called PayGo. “PayGo is short for Pay-as-you-Go, which is what it sounds like-paying for projects/maintenance/equipment as you have the cash,” Richard said. “Hybrid would incorporate trying to pay for those projects we can cash finance, while still bonding for certain projects that meet certain requirements.” Because PayGo is new to the city, the city council hasn’t established the criteria for which projects are eligible for the program yet, she said.
Read more: The Hutchinson Tribune
