§ 33.16 PURPOSE.

   The purpose of establishing a capital policy is fivefold:

   (A)   To safeguard the investments of the citizens of the town;

   (B)   To fix responsibility for the custody of equipment;

   (C)   To provide a basis for formulating capital asset acquisition, maintenance and retirement policies;

   (D)   To provide data for financial reporting; and

   (E)   To demonstrate appropriate stewardship responsibility for public assets.

(2013 Code, Title II, Ch. 34, § 4) (Ord. I-F-1-a, passed 6-23-2003)