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Auditors point committee to capital-asset footnotes and fund schedules; cite cash and land figures
Summary
The audit presentation directed committee members to the report footnotes for capital-asset detail (pages 57'58) and budgetary schedules (pages 97'109); auditors cited cash investments near $61 million, payables around $4,000, land at $12 million and business-type capital assets at roughly $28 million.
Committee members asked where to find the detailed capital-asset breakout and budgetary schedules. The auditor directed them to the footnotes beginning on page 57 for governmental capital assets and page 58 for business-type capital assets, and to pages 97'101 and 104'109 for budgetary schedules and variances.
The auditor read several headline figures from the schedules: nearly $61,000,000 in cash investments, about $4,000 in payables noted in one pension fund schedule, land valued at $12,000,000 for governmental activities, and roughly $28,000,000 in business-type capital assets. The auditor said Jacob and city staff have the granular asset listings and can provide them on request.
