The Fiscal Officer will ensure that capital assets are being accounted for by establishing a capital asset inventory, both initially and annually in subsequent years. The Fiscal Officer will further ensure that the capital asset report will be updated annually to reflect additions, reductions, and transfers. The Fiscal Officer will also report annual capital asset balances as required by the State Board of Accounts on the Town Annual Financial Report.
(Ord. 54-2022, passed 12-19-2022)