Write Up:

Accurate program cost estimates help MoDOT deliver more timely improvements for taxpayers. At the end of September, 45 road and bridge projects were completed in fiscal year 2025 for $141.2 million. This represents an increase of 2.3% or $3.1 million more than the programmed cost of $138.1 million. Of the 45 road and bridge projects completed, 40% were finished within or below budget. In comparison, 39% were completed within or below budget as of the same date a year ago. Possible projects with adjustments pending could cause a slight change in the final values, however these values include final contract adjustments such as asphalt index adjustment, liquidated damages and bonuses/incentives/disincentives.

In addition, two multimodal projects were completed for $1.6 million, which is a decrease of 38.6% or $1 million less than the planned cost of $2.6 million. A total of 18 projects by local public agencies were completed for $17.4 million, which is 1.6% or $0.3 million less than the projected cost of $17.1 million. The target is a 0% difference, indicating MoDOT is making timely use of available funds. Year to date in fiscal year 2025, road and bridge, multimodal and local public agency projects were within 1.5% of the target. The program estimate for FY 2025 was lower than the actual award amount by 10.1% or $11.8 million. MoDOT continues to monitor the situation throughout the year.

Purpose of the Measure:

The measure compares total project costs to the programmed cost/project budget and final costs. 

Measurement and Data Collection:

Completed project costs are reported during the fiscal year in which a project is completed. Road and bridge project costs include design, right-of-way purchases, utilities, construction, inspection and other miscellaneous costs. The programmed cost is based on the amount in the most recently approved Statewide Transportation Improvement Plan (STIP). Completed costs include actual expenditures. Multimodal and local public agency project costs usually reflect state and/or federal funds, but not the funds contributed locally for such projects.

The target for this measure is set by internal policy and will remain unchanged unless there is a policy change.