Poor management of available resources at the Virginia Dept. of Transportation resulted in $877 million in transportation funds left unspent during the last two fiscal years, says an independent audit commissioned by Virginia Gov. Bob McDonnell (R). Photo: Virginia Governor’s office Virginia Gov. Bob McDonnell wants recently uncovered transportation funds contracted by Dec. 1. Some of that funding carried over from previous fiscal years will be used to help VDOT award $800 to $900 million in contracts by Dec. 1. “This audit demonstrates that available funding has not been effectively used in the past few years,” McDonnell said Sept. 23.
The market is generally healthy and steadily growing, and margins are up for large specialty contractors. Further, advances in design tools and owner demand for collaboration are giving subcontractors a seat at the table early on in projects.