Determine whether City officials are properly planning for capital needs.
- 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.
- 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.