As used in this chapter, the following terms shall have the meanings
indicated:
FIXED ASSETS
Assets of a long term character, which are intended to be held or
used for more than one year, e.g. land, buildings, improvements on buildings,
machinery and equipment.
Below is a procedure to follow for the Village of Hamburg's fixed assets:
A. Assets are purchased by each department through the normal Village of Hamburg purchasing procedures as per Chapter
67, Procurement Policy.
[Amended 6-15-1998 by L.L.
No. 3-1998]
B. After purchase and receipt of the asset, an inventory
change report is to be filled out and signed by the department head. This
form consists of the following: name of department, type of transaction (addition,
subtraction, deletion or transfer), property identification number, description,
location code of transaction, vendor, purchase price, method of disposition
and signature. This procedure is for any asset $1,000 or more in cost or for
pilferable items that the department head wishes to track for accountability
purposes, such as computer software, hand tools, etc.
[Amended 6-15-1998]
C. All inventory change reports are to be handed in to the
Clerk-Treasurer's office. This office acts as the property control manager.
A Village of Hamburg sticker will be issued by the Clerk-Treasurer's office
for the reported items.
[Amended 6-15-1998]
D. The Property Control Manager (Clerk-Treasurer) accumulates
these change reports and transfers the information onto computerized records.
These reports designate the actual location of each item in the village.
E. The inventory change reports consist of addition, deletion
or transfer sheets. These addition sheets can now be verified to see if all
inventory has been recorded for the year by checking them against the department's
expenditure guideline listing.
F. The Property Control Manager then prepares a schedule
of general fixed assets by function and activity and another showing additions
and deletions for the year. This report is then used in our annual financial
report.
G. Procedures employed shall comply with all applicable
laws and the requirements of the New York State Department of Audit and Control
which are issued pursuant to Section 36 of the General Municipal Law of the
State of New York.
H. All fixed assets will be physically inventoried on an
annual basis. The Clerk-Treasurer is responsible to ensure the inventory is
completed not later than April 30 of each fiscal year.
[Added 6-15-1998]