Capital Asset Inventory
We are going through a detailed assessment of our assets to determine a plan for asset management. Through this process we have come to realize that not all of our water inventory was captured when TCA was rolled out. Has anyone else had this occur in their municipality? If yes, did you add it to the TCA inventory later? What did your auditors think of this gap? Did they make you restate prior year or report prospectively?
Rose Bronswyk Kassa, CPA, CMA