Dwindling emergency reserves worried monitors

Reports released by the city reveal concerns about spending before a ruling halted work

By Kevin Dayton / kdayton@staradvertiser.com

POSTED: 01:30 a.m. HST, Oct 21, 2012

~~<p>Newly released reports show federal monitors were warning that contingency cash reserves for the $5.26 billion Honolulu rail project had dropped "below accepted control levels" even before a costly ruling by the Hawaii Supreme Court halted construction in August.</p>
<p>That disclosure in documents related to the city's application for federal funding underscores continuing concerns about the size of the cash cushion maintained by the largest public works project in Hawaii history.</p>
~~

Newly released reports show federal monitors were warning that contingency cash reserves for the $5.26 billion Honolulu rail project had dropped "below accepted control levels" even before a costly ruling by the Hawaii Supreme Court halted construction in August.

That disclosure in documents related to the city's application for federal funding underscores continuing concerns about the size of the cash cushion maintained by the largest public works project in Hawaii history. Login for more...