(A) Retirements apply to all capital assets including land, buildings, machinery and equipment, vehicles, and general infrastructure.
(B) When an asset is disposed of, scrapped, sold, subject to demolition, and the like, it is to be removed from the property record and the appropriate reduction will be made to historical cost, accumulated depreciation, and net book value amounts.
(C) Retirements will reflect the actual historical cost of the asset when the amount is ascertainable. When historical cost is not ascertainable, an estimated historical cost will be determined.
(Ord. 10-2023, passed 12-19-23)