Laserfiche WebLink
Page 2 <br />Office Equipment: Equipment used to perform a mechanized task. ie computers, <br />calculators, copiers, fax machines etc. <br />Other Equipment: Equipment that does not fit into a previous category. <br />Trucks/ Pickups: 4 wheel vehicle used mainly for maintenance and hauling. <br />C. ACQUISITION: <br />When an item is acquired that should be added to the fixed asset inventory, the <br />appropriate department shall complete an Addition Form. It should include the <br />following information: department, description, model number, serial number, VIN <br />number(if appropriate), vendor. The form should than be returned to Finance for <br />addition to the fixed asset inventory. <br />Purchase: <br />An acquisition through the direct outlay of cash. Cost will be based <br />on invoice plus additional costs of preparing the asset. An item <br />traded for the a new item does not decrease the cost of the new <br />item. <br />Lease/Installment: Cost will be determined and assigned as if the item was purchased <br />outright. <br />Donations: Cost will be determined by fair market value and any costs <br />associated with preparing the asset for use. <br />Eminent Domain: Cost will be determined by the court plus any additional costs <br />incurred for the acquisition. <br />Forfeiture: Cost will be determined by fair market value and any costs <br />associated with preparing the asset for use. <br />Contribution: Cost will be determined at the completion of construction as <br />determined by the City Engineer. <br />The additional costs of preparing the asset for intended use includes, but is not limited <br />to the following: <br />Land: legal fees, appraisal and negotiation fees, demolition, site preparation, <br />and survey fees. <br />Buildings and Improvements: architect fees, legal fees, appraisal fees, cost of <br />fixtures, bonding fees, and interest. <br />