- 13 -
which provides accounting services to EPCO. In the course of his
firm's work for EPCO, Mr. Jones reviews individual financial
statements and corporate tax returns of EPCO and its
subsidiaries. Mr. Jones' involvement with petitioner began in
1992.
In order to become familiar with petitioner's operations in
1988 and 1989, Mr. Jones reviewed EPCO's financial data from
those years. The data consisted of historical financial
statements and Federal income tax returns.
At trial, petitioner orally moved that the Court recognize
Mr. Jones as an expert, for the purposes of the valuation of the
sewer line. Respondent objected to Mr. Jones’ being qualified as
an expert and we took respondent's objection under advisement.
We find that Mr. Jones does not have specific expertise in
valuing sewer lines.
Mr. Jones has neither lectured nor published articles on the
subject of valuation. Mr. Jones has not attended courses or
seminars conducted by an appraisal organization, nor has he been
certified by an appraisal society. Additionally, Mr. Jones
testified that he was not familiar with the Uniform Standards of
Professional Appraisal Practice. Mr. Jones has no prior
experience valuing sewer lines or, as a matter of fact, any type
of public utility. Mr. Jones’ prior valuation experience
primarily consists of valuing underlying collateral for loan
Page: Previous 3 4 5 6 7 8 9 10 11 12 13 14 15 16 17 18 19 20 21 22 NextLast modified: May 25, 2011