WAMPO Fiscal Agent Agreement Department of Finance September 3, - - PowerPoint PPT Presentation

WAMPO Fiscal Agent Agreement

Department of Finance

September 3, 2019

Background

• The Wichita Area Metropolitan Planning

Organization (WAMPO) is an independent governmental agency, responsible for transportation planning

• WAMPO is primarily funded with federal funding

and member city contributions

2

Fiscal Agent Services

• As the largest member jurisdiction, the City of

Wichita has been proposed to serve as the fiscal agent for WAMPO

• As the fiscal agent, the City will provide

necessary funding to address interim cash flow needs up to 25% of WAMPO’s annual budget

3

Fiscal Agent Services

• City will receive monthly statements and

supporting documentation regarding WAMPO’s cash balances to determine if amounts due from/to WAMPO are needed

• WAMPO will be charged interest for the
• utstanding amount due the City on a monthly

basis

4

• Approve the contract for fiscal agent services

and authorize the necessary signatures

Recommended Action

5

Finance Department