City of Norwich - Capital Planning (2019M-88)

Issued Date
August 16, 2019

[read complete report - pdf]

Audit Objective

Determine whether City officials are properly planning for capital needs.

Key Findings

  • Officials did not develop a capital plan or accurate and complete inventories of vehicles and equipment.
  • The City has approximately $1.8 million in capital needs that will impact its financial condition.

Key Recommendations

  • Develop a multiyear capital plan to ensure that financial resources are available to replace capital assets in a timely manner.
  • Create inventory lists of capital assets and maintenance and replacement schedules.

City officials disagreed with certain aspects of our findings and recommendations, but indicated they have initiated corrective action. Appendix B includes our comments on issues raised in the City’s response letter.