WYDOT says the department has experienced long- and short-term funding issues caused by reductions in fuel tax revenues, petroleum market revenues, and other areas, with the coronavirus (COVID-19) pandemic creating an additional budgetary impact.
The delayed construction projects will be statewide and will reallocate about $436 million over the next six years from new capacity improvement projects to maintenance of the assets WYDOT currently has.
“We are operating in unprecedented times exacerbated by the coronavirus pandemic and we need to look at every avenue to save money,” WYDOT Director K. Luke Reiner said in a statement. “We are looking at ways to save money and streamline our processes so we can continue to provide the people of Wyoming with the best possible service. These cost-savings measures will be challenging, but as a state we will get through this together and emerge stronger than before.”
WYDOT and other state agencies have been asked to look at ways to reduce spending to ensure the state has a balanced budget.
WYDOT officials have reviewed the department’s overall transportation system—which includes various assets, resources, staffing, and funding—to see how they can continue to meet the department’s mission while reducing costs.
WYDOT’s review also included discretionary funding the department provides to local communities. Officials said some programs will be affected now, while others may need to be revisited in the future as the department refocuses its budget on state-owned and state-operated assets.
SOURCE: Wyoming DOT