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General Fixed Assets <br /> <br />The general fixed assets of the City are those fixed assets used in the <br />performance of general governmental functions. As of December 31, 1981, <br />the general fixed assets of the City amounted to $1,231,249. This amount <br />represents the original cost of the assets and is considerably less than <br />their present value. Depreciation of general fixed assets is not recognized <br />in the City's accounting system, <br /> <br />State law requires an annual audit of the City's financial records and <br />transactions supporting the financial statements. This requirement has <br />been complied with and the auditors' opinion has been included in this <br />report. <br /> <br />I should like to thank the Mayor and City Ceuncilmembers for their interest <br />and support in planning and conducting the financial operations of the City <br />in a responsible and progressive manner, <br /> <br />Respectfully submitted, <br /> <br />Jeanne A. Moen <br />City Accountant <br /> <br />-ix- <br /> <br />I <br />I <br />I <br />I <br />I <br />I <br />I <br />I <br />I <br />I <br />I <br />I <br />I <br />I <br />I <br />I <br />I <br />I <br /> <br /> <br />