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Fayetteville audit committee cites inventory improvements, aging pipes and budget pressure as audit priorities for 2025
Summary
The internal auditor reported inventory-count improvements for water and sewer, noted higher inventory value tied to rising copper prices, and described planned 2025 audits and follow-ups; members also discussed aging transmission lines, an $85 million project and tight general-fund revenues that limit new hires.
Aaron, the city's lead internal auditor, told the Audit Committee that the water and sewer inventory count showed meaningful improvement: the count variance fell to -0.2% from -3% the previous year after targeted monthly counts of high-value parts. "The count variance was down to a negative point 2% as opposed to negative 3% than it was last year," he said.
Aaron also noted inventory value rose about $170,000 year over year and attributed part of that increase to higher commodity prices: "Last year... it was $9.50 last year per foot, and this year it's $11.06," he…
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