(A) Fixed assets used in governmental fund type operations (general fixed assets) are recorded in the general fixed assets account group rather than in governmental funds. Fixed assets used in proprietary funds are accounted for in the appropriate fund.
(B) All fixed assets are valued at historical cost or estimated historical costs if actual historical cost is not available. Donated fixed assets are valued at their estimated fair value at the time received. Fixed assets with a cost of $5,000 and above will be recorded and tracked by the Comptroller's office.
(Ord. 02-48, passed 11-13-02; Am. Ord. 9-6, passed 3-25-09)