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The Controller's Office will ensure that accounting for capital assets is being exercised by establishing a city capital asset inventory, both initially and periodically in subsequent years. The Controller's Office will further update the capital asset report annually to reflect additions, retirements, and transfers and to reflect the new, annual capital asset balance for financial reporting purposes and the annual and accumulated depreciation calculation.
(Ord. 28, 2009, passed 12-7-2009)