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AGENDA ITEM NO. 10 <br />STAFF ORIGINATOR Mary Vaske <br />DATE June 22, 1995 <br />TOPIC Consideration of General Fixed Assets Policy and Procedures <br />BACKGROUND:: <br />Currently, the City is in the process of establishing a fixed asset system. The City <br />shall assign responsibility for the custody and control of it's property. The system <br />shall incorporate proper accounting procedures according to generally acceptable <br />accounting principals. Department Heads will be responsible for the notification of <br />purchase, deletion or transfer to the Finance Department. inventory will be taken <br />annually to prove accountability. <br />1. Approve General Fixed Assets Policy and Procedures as submitted. <br />2. Send Policy and Procedures back to Staff for additional changes per City <br />Council <br />fa-• <br />