Days of ’76 Museum board transfers $531K in museum assets to Deadwood
DEADWOOD — Deadwood Mayor Chuck Turbiville thanked the Days of ’76 Museum board Monday for a transfer of assets in the amount of $531,337.86.
Finance Officer Mary Jo Nelson said the transfer is largely a housekeeping item and that expenditures were made and approved by the Days of ’76 Museum board from 2006 through 2012 during construction of the Days of ’76 Museum, a city property.
Nelson explained that Days of ’76 Museum Board Treasurer Joe Peterson put the expenditures in an account called Construction in Progress, in order to keep track of the assets.
“It’s city property,” Nelson said. “It comes off their books as an asset and goes on the city books as an asset and will increase the value of the Days of ’76 Museum by that much.”
Peterson said the costs were incurred during the beginning of the construction of the new Days of ’76 museum and largely entail professional and display fees.
“It’s a clear-up of an accounting issue,” Peterson said. “Just an oversight that should’ve happened in 2012.”
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