[HISTORY: Adopted by the Board of Trustees of the Village of Ballston Spa 1-10-1978. Amendments noted where applicable.]
In order to determine the existence, location and value of all real and personal property of this Village and to provide for control and custody of these assets, the following policies and guidelines are hereby established:
A. 
A property manager shall be designated who shall be responsible for developing and maintaining the inventory records.
B. 
The department head shall be named the custodian responsible for the property under his/her control.
C. 
The custodian shall take an annual physical inventory of machinery and equipment each year which shall be certified and submitted to the property manager by February 1. A periodic inventory shall be taken by the commissioner of the department.
D. 
Equipment items to be included in fixed asset records shall be those items having:
(1) 
A cost of $100 or more.
(2) 
An estimated useful life of one year or more.
(3) 
Physical characteristics of the asset that are not appreciably affected by use or consumption.
E. 
The inventory and record of real property and buildings shall be compiled and recorded by the commissioner of each department, subject to review by the Board of Trustees.
F. 
All procedures shall comply with all applicable laws and requirements of New York State Department of Audit and Control issued pursuant to § 36 of the General Municipal Law.