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Committee examines state property valuations; agency seeks analyst to audit insured values
Summary
Committee members questioned the Department of Administration about agency-entered property values after learning some demolished or misvalued assets remained on insurance rolls.
Committee members questioned the Department of Administration about the accuracy of agency-reported property valuations and possible over-insurance for state-owned buildings.
Representative Tanner asked analysts to explain fluctuations in the retained risk and related funds. Frances Lippett explained that some fund tables exclude continuously appropriated expenditures, which can make year-to-year balances appear inconsistent.
Senator Veil asked about agency-entered property values after seeing cases in…
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