A physical inventory of capital assets will be conducted by each department as near as practical to year-end. The County Auditor will provide a list of the inventory on file which will be sent to each department head before each year-end. The department heads will then compare physical observations of assets to the listing noting whether the assets exist, the location if not apparent otherwise, and relevant factors. If the condition of an asset has deteriorated to the point its useful life has been impaired, the fact should be noted, and the reasons for such omissions should be documented to the extent possible. Department heads shall be accountable for the capital asset inventory charged to their department. The physical capital asset inventory sheet and related documentation shall be forwarded to both the County Auditor and the Board of Commissioners. The County Auditor will compare the results of the physical inventory to the capital asset records and make necessary adjustments to the capital assets.
(BC Ord. 2019-0042, passed 12-2-2019)