§ 14-59-107 - Fixed asset and equipment records.
14-59-107. Fixed asset and equipment records.
(a) (1) All municipalities shall establish by major category and maintain, as a minimum, a listing of all fixed assets owned by the municipality.
(2) The listing shall be totaled by category with a total for all categories.
(3) The categories of fixed assets shall include the major types, such as:
(A) Land;
(B) Buildings;
(C) Motor vehicles;
(D) Equipment; and
(E) Other.
(b) The listing shall contain as a minimum:
(1) Property item number, if used by the municipality;
(2) Brief description;
(3) Serial number, if available;
(4) Date of acquisition; and
(5) Cost of property.