If you have ever wondered why government projects seem to cost so much News 4 is gathering some insight. Last night we told you about a 1.6 million dollar government funded window project at Scott Air Force Base. Congress has approved the replacement of 400 windows and 15 doors, the cost breaks down to more than 35 hundred dollars per window and door.
Today we talked with Mark Soczek, he's an accounting professor at Washington University. Soczek has a background in auditing, corporate disclosure policy and financial reporting. Soczek offered some insight into why government projects seem to cost more than projects in the private sector.
1.) The government can have a use it or lose it mentality.
2.) Contractors might actually bid more for a project because it's government funded.
3.) The government can set unrealistic expectations or goals for a project, and that can drive the cost up.
News 4 continues to track stimulus spending, if you have seen something in the community that leads you to ask "Is this why we're broke?" email us at email@example.com