Commission certifies capital depreciation schedule, aims to reduce prior audit findings

City staff presented a certified capital depreciation schedule and asked the commission to approve certification so the city could proceed with the external audit. Staff explained the previous auditor (JAG) had not included the airport depreciation last year and that the new schedule reconciles assets between governmental and business-type activities.

Staff said the depreciation schedule ties $18,280,000 in projects under construction to specific projects and categories, and that the city will work with the new auditors and with Beasley to reduce the severity of the prior audit finding. "So what you have in front of you are the numbers of the assets that we have," a staff presenter said. Commissioners moved to approve the certification and recorded the motion as carried.

Provenance: Topic introduced at SEG 942 and last discussed at SEG 1056.