The city has not finished checking its physical inventory against its accounting records for certain assets, so its financial statements may be inaccurate.

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Original Audit Finding Excerpt

"PPE, except for Land, Land Improvements, Infrastructure Assets and Buildings & Other Structures, were not adjusted in the books since the reconciliation of physical inventory report against PPE ledger cards by the GSO, the property custodian of the City , is ongoing and incomplete as of December 31, 2023."

Source Document