Answer: Management agrees that preparing financial statements and maintaining disclosure knowledge is not cost-effective for the City.
Trend: This reflects a growing recognition of resource allocation challenges in financial reporting.
List: Follow up on alternative solutions for financial statement preparation and disclosure management.
Finding Text
Views of Responsible Officials and Planned Corrective Actions: Management agrees with the recommendation that it is not cost effective for the City to prepare the financial statements and maintain a working knowledge of the required disclosures.