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HomeMy WebLinkAbout1978-031-04/18/1978-APPROVING THE FIXED ASSET AND PROPERTY CONTROL MANUAL AND PROCEDURES PROMULGATED BY THE DIRECTOR OF RESOLUTION 78-31 OF THE COUNCIL OF THE CITY OF FORT COLLINS APPROVING THE FIXED ASSET AND PROPERTY CONTROL MANUAL AND PROCEDURES PROMULGATED BY THE DIRECTOR OF FINANCE WHEREAS, the audit of the City has disclosed difficul- ties involving the recording of fixed asset transactions in the financial records of the City, and WHEREAS, in response to the comments made by the City Auditors, the Finance Department has compiled a fixed asset and property control manual and procedures document, and WHEREAS, this manual defines 'fixed assets' and sets out the procedures for identifying, controlling and recording all fixed asset transactions in the City, which manual utilizes generally accepted accounting principles and definitions established by the Municipal Finance Officers' Association of the United States and Canada, and WHEREAS, the Director of Finance has promulgated said manual and presented it to the City Council for its review, and WHEREAS, the City Council has reviewed the manual and desires to approve the same. NOW, THEREFORE, BE IT RESOLVED BY THE COUNCIL OF THE CITY OF FORT COLLINS that the fixed asset and property control manual and procedures promulgated by the Director of Finance be and the same hereby are accepted and approved, and BE IT FURTHER RESOLVED that the Finance Director is authorized to implement the procedures set forth in said manual in identifying, controlling and recording fixed asset transactions of the City. Passed and adopted at a regular meeting of the City Council held this 18th day of April, 19 8. ATTEST: yor f� City Clerk