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1~ <br />Chart of Accounts. We will review the County's chart of accounts to determine whether GASB 34 <br />requirements will be met. We will specifically: <br />• Evaluate short-term solutions under the current system and identify potential long-term solutions that <br />maybe incorporated when the County purchases its new system. <br />+ Provide guidance to ensure that an account structure is established so that program revenue is propeirly <br />segregated from general revenue, and easily assigned to a functional expense. <br />Capital Assets <br />We will evaluate the current capital asset management system to determine whether it provides the necessary <br />features to create and maintain a depreciation system that will be required under GASB 34. <br />For capital assets other than infrastructure we will: <br />• Evaluate the capabilities of the existing fixed assets software to determine if it: <br />- effectively calculates depreciatian for general fixed assets <br />- will allocate cost on a functional basis <br />- allows for the various methods of depreciation <br />- allows for the use of composite depreciation methods for various classes of assets <br />- adequately updates general fixed assets for current year additions and disposals <br />- allows for the initial recording of accumulated depreciation <br />• Review general fixed assets data to determine: <br />- what the various capitalization thresholds are <br />- the sufficiency of asset detail for cast segregation and depreciation (land, structures, improvements, <br />equipment) <br />- what the asset class breakdown is <br />- if the detail records contain suff dent information to calculate depreciation `useful lives, date in <br />service, salvage value, and functional allocation" <br />• Provide both short-term and long-term solutions to any problems identified during this analysis. <br />Far infrastructure capital assets we will: <br />• Perform an evaluation of potential infrastructure and make recommendations to ensure compliance with <br />GASB 34. <br />We will obtain the information outlined in this letter by reviewing source documentation and discussions <br />with appropriate County personnel. We request that the County provide a contact person for the project who <br />can assist us in retrieving documents and setting up appointments -and meetings. <br />