(A) The county and its various departments shall classify capital expenditures as capital outlays within the fund from which the expenditure was made in accordance with the Chart of Accounts of the Cities and Towns Accounting Manual. The cost of property, plant and equipment includes all expenditures necessary to put the asset into position and ready for use. For purposes of recording fixed assets of the county and its departments, the valuation of assets shall be based on the historical cost or where the historical cost is indeterminable, by estimation for those assets in existence.
(B) In addition, an asset register (prescribed Form 211) shall be maintained to provide a detail record of the capital assets of the governmental unit.
(Ord. O-C-97-8, passed 11-3-1997)