(A) Property record maintenance.
(1) The Clerk-Treasurer will ensure that reporting for capital assets is being exercised by establishing a capital asset inventory, both initially and periodically in subsequent years. The Clerk-Treasurer will further ensure that the capital asset report will be updated annually to reflect improvements, additions, retirements, and transfers and to reflect the new, annual capital asset balance for financial reporting purposes and the annual and accumulated depreciation calculations and net book value amounts.
(2) Day-to-day stewardship of personal property above the capitalization threshold of $5,000 is the responsibility of the department utilizing the property.
(3) For annual updating of the capital asset report, the departments have the responsibility to report improvements, additions, retirements, and transfers in detail to the Clerk-Treasurer. It is expected that this reporting will be in a timely manner, as the capital asset record must be updated annually.
(4) To restate, additions of assets at or above the unit capitalization threshold of $5,000 are to be reported to the Clerk-Treasurer by the departments upon purchase or receipt of the asset. These will be verified per the claims process by the Clerk-Treasurer’s office. Transfers and retirements of assets at or above the $5,000 unit threshold are to be reported as such by the departments to the Clerk-Treasurer at the time of the transaction.
(B) Property control.
(1) Capital assets below the capitalization threshold of $5,000 on a unit basis but warranting “control” shall be inventoried at the department level and an appropriate list will be maintained. Data elements are to include purchase date, purchase price, asset description, location, make, model, serial number, and other information that assists control or deemed relevant.
(2) Assets below the capitalization threshold but considered sensitive may include, for example, weapons, radios, personal computers, laptop computers, printers, fax machines, and small power tools. These minor but sensitive items shall be inventoried and controlled at the department level. Stewardship of these minor but sensitive items is the responsibility of the departments utilizing these properties.
(3) The Clerk-Treasurer shall determine appropriate means, level of detailed data elements, and the system to be utilized. Finally, the Clerk-Treasurer shall have the right to request copies of the inventory and/or updated inventory of controllable items so as to periodically review the information and adherence to policy.
(Ord. 10-2023, passed 12-19-23)