§ 2-164. Fixed assets listing—Requirements.

(a)

A "fixed asset" of the municipality includes the following:

(1)

Land;

(2)

Buildings;

(3)

Improvements to buildings or property;

(4)

Infrastructure;

(5)

Motor vehicles;

(6)

Equipment;

(7)

Heavy machinery;

(8)

Any property purchased or leased with a value of two thousand five hundred dollars ($2,500.00) or more which has a useful life one (1) year or more.

(b)

The mayor shall be responsible for ensuring that each city department and agency creates and maintains a current list of fixed assets within the possession or control of the department. The list shall be organized by category, the same being subsections (a)(1)—(a)(8) above, and in the applicable category contain, at a minimum, the following information:

(1)

Property item number (if available, real estate should include the Jefferson County parcel number if known);

(2)

A brief description of the property sufficient to identify it;

(3)

Serial number (if available, motor vehicles should include VIN number);

(4)

Date of acquisition and name of the vendor;

(5)

Cost of property and estimated useful life;

(6)

For fixed assets leased with a purchase option, the monthly payment, the down payment, and the interest rate.

(c)

It shall be the responsibility of each department or agency head to ensure that the fixed asset list for the department or agency is maintained current. It shall be the duty of the mayor to monitor the compliance of each department of agency head for adherence to this requirement.

(Ord. No. 6441, §§ 1—3, 5-20-13)

Editor's note

Ord. No. 6441, §§ 1—3, adopted May 20, 2013, did not specifically amend the Code; therefore, these provisions have been included at the editor's discretion.