(A) The Clerk-Treasurer will assign an estimated useful life to all assets for the purposes of recording depreciation. The "Suggested Useful Lives" schedule stated in § 36.51 will be used to establish useful life for depreciation purposes. Asset lives will be adjusted as necessary depending on the present condition and use of the asset and based on how long the asset is expected to meet current service demands. Adjustments should be properly documented.
(B) An asset's net book value will be depreciated down to the asset's salvage value or when the asset's net book value is zero.
(Res. 2020-4, passed 9-22-2020)