Get Full Government Meeting Transcripts, Videos, & Alerts Forever!
Get email alerts on the Audit Finance topic
No spam. Unsubscribe anytime.
Commission hears audit completion; court resurfacing cost reported at about $280,000
Summary
Auditors completed their review last week and the commission was told the court resurfacing project cost about $280,000; borrowing had been approved up to $300,000 with a five-year loan structure.
Commissioner Fekola asked the city to confirm the cost of recent court resurfacing work. A city official reported the project expense and financing approach: "We had budgeted, the commission approved borrowing up to $300,000. We spent 280," and staff said they used the surplus to reduce debt service and structured the borrowing as a five-year bond anticipation note.
Commissioner Fekola also noted the audit was completed last week; speaker 4 said auditors from a firm completed the review and the city was wrapping up the audit work. No additional audit findings were read into the record at the meeting; staff indicated the normal follow-up would occur as part of administrative processes.
