Part Vii: Improving Accounting and Reporting for Deferred Maintenance

F:VII.2. The City does not have accounting and financial systems and processes Controller, in place to accurately determine and report the condition of its assets or Department of Public the extent of its deferred maintenance. Works, City Administrator, Director of the Capital Planning Program, Director of the Real Estate Division, General Manager of Recreation and Parks F:VII.3. The City’s capital assets shown in its financial statements may be Controller overstated because its use of straight line depreciation assumes a longer asset life span than is likely given the reduced­life impact of deferred maintenance. F:VII.4. Existing data show that maintaining assets extends asset life and is Controller, cheaper than prematurely replacing unmaintained assets. Director of Public Works, City Administrator, Director of the Capital Planning Program, Director of the Real Estate Division, General Manager of Recreation and Parks Maintenance Budgeting & Accounting Challenges for General Fund Departments 84