A physical inventory of all capital assets (any item over $3,000) will be conducted in each department on or about December 31 of every year. The Town Controller’s office will conduct spot checks on a random basis. Department heads will be accountable for the capital asset inventory charged to their departments by verifying a list of their capital assets at year-end.
(2013 Code, Title II, Ch. 34, § 12) (Ord. I-F-1-a, passed 6-23-2003)