Answer: Management agrees that preparing financial statements and understanding required disclosures is not cost-effective for the City.
Trend: There is a growing recognition among management that certain financial practices may not be sustainable.
List: Follow up on management's planned corrective actions to ensure they align with cost-effectiveness goals.
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.