There was some summary information included in the agenda item. Unfortunately, it was not the general ledger reconciliation that you promised at the last Audit and Budget board meeting. Could you please send me the reconciliation for other reserve account that includes the additional YMCA reserve that you are referring to in your summary list? I am sure that you have this available now since the CPA auditors will be in soon. I would hate to find out that that reserve account has other errors included in the balance also after the City Council votes on Tuesday night.
I am not following your numbers from the summary either. I do see the $3,162.50 entry in the general ledger back in August 2008, but that also appears to be in error since the lease calls for $5,360.00 to be added to the repair and replacement reserve, but only $4,860.00 was being recorded as the required reserve deposit, so you may have more errors there.
Another question that I have relates to why the additional amount of rent is being added to reserves. I asked this question sometime ago and you indicated that you had no City Council authorization for the $2,812.50. I did go back a few years to look at the annual CAFR’s and annual budgets. There was information about roof replacements and exterior work that totaled approximately $650,000.00 that was paid for out of the 2004 capital improvements bond fund. Perhaps the additional reserves amount was supposed to be paying back that expenditure to the 2004 capital improvements bond fund. I did not see this full expenditure in any of the information that you have provided so far although there were some larger amounts listed in 2007 and 2008. If the additional reserves are to pay back the 2004 capital improvements bond fund, may the available R&R reserve amount is really only the $330,066.90 not the $718,596.90 that you are now claiming to be available. I know it is getting down to the last minute here, but I have been asking these questions for three months now.
3606 Donna Street
Port Orange, Florida 32129
- 5 Months Since I have Asked for Water Bill Deposit to be Returned.
- Y or Y-Not