County Auditor Puts Brakes on Ray Lawyer Interchange Loan
El Dorado County Supervisors, for the second time, have put off a decision on a proposal to advance $2 million to the city for Phase 1A of its Western Placerville Interchange project. The loan would make it possible for the city to begin “mobilization” and cover “the first payment to the contractor,” according to documents from the Chief Administrative Office.
Phase 1A is construction of a westbound on-ramp from Highway 50 at what will become the Western Placerville Interchange, also known as the Ray Lawyer Interchange.
The money would be loaned from the county department of transportation’s Road Fund and repayment will be made from a $6 million grant the city will eventually obtain in reimbursements from the California Transportation Commission. The grant was approved under the state’s Corridor Mobility Improvement Account.
So far, however, all of this is educated speculation. As of Thursday Sept. 13, the county had not received documents necessary to complete the loan process. County Auditor Joe Harn alerted supervisors in an Aug. 27 letter that “the City’s audited financial statements for the year ended June 30, 2011, are not yet available.” At their Aug. 28 regular meeting, supervisors postponed discussion or action on the loan proposal to Sept. 11. As of Thursday, the item has been moved to the board agenda for Tuesday.
Harn also noted that both the city and the county are required under Federal law to have their audits completed by March 31, 2012. And with an “in your face” remark Harn said it is unusual for local governments to be late with their audit reports, “but not unusual for the City of Placerville.”
Harn’s letter also expressed ...