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

WAMPO Fiscal Agent Agreement Department of Finance September 3, 2019

Background 2 • 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

Fiscal Agent Services 3 • 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

Fiscal Agent Services 4 • 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 outstanding amount due the City on a monthly basis

5 Recommended Action • Approve the contract for fiscal agent services and authorize the necessary signatures

Finance Department