New audit critical of PPS bond cost estimates

PORTLAND, Ore — A new audit of Portland Public Faculties 2017 bond measure value estimates is out, and it’s important of choice making by district officials.

KGW reported last August that precise prices to do all of the work promised with the $790 million bond might hit $1 billion. Again then the district informed us it was principally on account of development prices skyrocketing unexpectedly.

However in line with our news companions on the Oregonian, the new unbiased audit exhibits district officers used very conservative numbers to predict future development prices, towards the suggestions of employees.

And officials additionally underestimated “tender costs” for issues like inspections, permits and legal fees.

The audit from a California consulting firm says PPS did all this, “and not using a documented methodology, rationale or rationalization.”

It provides as much as an almost $200 million drawback, for a bond designed to rebuild or modernize a number of faculties within the district.

The audit really helpful two paths ahead: reduce on development or ask voters for extra money.

The PPS board mentioned the audit at its final assembly.

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