Consent 11.
Regular Board of Supervisors Meeting
Finance
- Meeting Date:
- 06/07/2011
- Title:
- Adopt Resolution to approve change to Capital Asset Policy
- Submitted By:
- Katie Howard, Board of Supervisors
- Department:
- Board of Supervisors
Presentation:
No A/V Presentation
Recommendation:
Approve
Document Signatures:
BOS Signature Required
# of ORIGINALS
Submitted for Signature:
Submitted for Signature:
1
NAME
of PRESENTER:
of PRESENTER:
n/a
TITLE
of PRESENTER:
of PRESENTER:
n/a
Docket Number (If applicable):
Mandated Function?:
Federal or State Mandate
Source of Mandate
or Basis for Support?:
or Basis for Support?:
Agenda Item Text:
Adopt Resolution 11-21 authorizing revisions to page 28 of the Cochise County Capital Asset Policy changing the verbiage for special capital assets that do not fall neatly into one of the County’s useful life categories which were previously established.
Background:
Cochise County has previously established useful life categories for capital assets based on the UAMAC, Uniform Accounting Manual for Arizona Counties. Every so often we come across a special capital asset that does not fall into one of these pre-established categories. Per the state auditor’s request, we have added one sentence on page 28 of our policy to account for these unusual circumstances. The capital asset that has required this sentence was the useful life of the partial cell #3 at the WRL which was determined by the state auditors to have a useful life of only two years.
Department's Next Steps (if approved):
Distribute revised policy to departments and post on Finance and Procurement intranet sites.
Impact of NOT Approving/Alternatives:
Non-compliance with current capital asset policy which will cause an audit finding in future years.
To BOS Staff: Document Disposition/Follow-Up:
Execute and record Resolution.