Audit uncovers forgotten city reserves, studies

APRIL FOOLS’ — The city of Sarasota recently received a study that includes a series of recommendations for retaining young professionals post-graduation.

The plan is focused on attracting businesses from a booming tech industry. However, mentions of companies such as Google and Twitter are absent — and references to Netscape and Geocities pop up repeatedly.

That’s because the city hired a consultant to conduct the report two decades ago. The study is one of several items that got lost in the shuffle over the past 20 years as the city has shrunk, eliminated or reorganized various departments.

The city became aware of this lost report earlier this month, when You’re So Money Consultants submitted a final invoice of $15,000 for completing the task. Although the first draft of the report dates back to 1999, the information inside can still provide valuable insight for city leaders, according to author Earl Schwartz.

“The economy is cyclical, and the same is often true of technology,” Schwartz said. “If you just swap out ‘America Online’ for ‘Instagram’ in our report, it instantly becomes relevant again.”

y is cyclical, and the same is often true of technology.” — Earl Schwartz

The report, along with the recent discovery of $27,500 donated in 2005 for maintenance of the Pineapple Park fountain, inspired officials to conduct a thorough audit of city resources. Although losing track of the study might seem like an embarrassment for the city, a nonprofit that monitors government expenditures — Watchdogs Attentive to Spending, Trouble and Excesses — says it’s actually not an uncommon occurrence.

“When you churn through as many consultants as a local government does, it’s unrealistic to be expected to keep track of them all,” said W.A.S.T.E. Executive Director Oedipa Maas.

Already, the audit has uncovered several forgotten funds dedicated to specific projects. That includes:

• $10,000, put in reserve in 2000 to address a budding homelessness problem;
• $18,500, set aside in 2006 for improvements associated with the “impending revitalization” of the Rosemary District;
• $40,000 toward a 1960s plan to develop the bayfront land near the Van Wezel Performing Arts Hall;
• $5,000 toward a study of the city’s reliance on consultants.

Hopefully you made it to the end of the article, so we can say, Happy April Fools' Day! This story is not true.