City Council works out the streetcar’s NSF

3 Jun

This is the week during which the City of Atlanta was to conduct an internal audit to track down the $5.6 million it needs to cover its portion of the first segment of the downtown streetcar project.

According to a story in Saturday’s AJC, the City Council might have based its December 2010 decision to allocate funds for the project on faulty information provided by Chief Financial Officer Joya De Foor. De Foor became the city’s CFO in June 2010.

C.T. Martin, one of two council members who voted against the resolution, told the AJC that he believes De Foor herself wasn’t aware of the budgetary hole. “I know that the first action that happened on this happened before she got there and she was operating off information she was told,” Martin said. “Somebody told her that the money was there.”

The $5.6 million is part of Atlanta’s share of the streetcar project’s $56 million cost. The bulk of the project will be paid for by a $47.6 million grant from the U.S. Department of Transportation, with the remaining $2.8 million coming from funds originally designated for other transportation projects along the same corridor the streetcar will serve.

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