Chapter 2.108
INVENTORY OF COUNTY PROPERTY

Sections:

2.108.010    Purpose.

2.108.020    Fixed Assets – Generally.

2.108.030    Department Assigned Duty.

2.108.040    Responsibility of Elected Officials and Department Heads.

2.108.050    Fixed Asset Depreciation Policy.

2.108.060    Identification of Pierce County Personal Property – Inventory.

2.108.070    Theft or Loss of Assets.

2.108.080    In-Department Transfer.

2.108.090    Responsibility of Purchasing Agent and Department.

2.108.010 Purpose.

The purpose of a fixed asset inventory system is to gather and present information needed for the preparation of financial statements and to provide for the control and accountability of the fixed assets of Pierce County. The policies contained in this procedure are the minimum requirements that must be met by all County offices and will be supplemented by forms and procedures established by the Finance Director. (Ord. 2017-12s § 2 (part), 2017; Ord. 85-61 § 1 (part), 1985; Res. 22711 § 1 (part), 1981; Res. 22523 § 1 (part), 1980; prior Code § 2.26.010)

2.108.020 Fixed Assets – Generally.

A.    Definition. "Fixed assets" means those physical assets whose purchase price exceeds $300.00 and which have a life expectancy of at least one year. Equipment temporarily attached to a building or structure will be classified as equipment and not building. (Example: an overhead hoist system is considered equipment; the track is part of the permanent structure.) The $300.00 minimum eligible amount may be adjusted by the Finance Director, upon notification to the County Executive and the County Council.

B.    Identification of Fixed Assets. All fixed assets of Pierce County are to be marked in such a manner as to identify them as belonging to Pierce County.

C.    Records Requirements. The Purchasing Agent will maintain a fixed asset system which includes records for all inventoried assets. The specific elements to be maintained on each fixed asset record and all appropriate procedures will be determined by the Finance Director.

(Ord. 2017-12s § 2 (part), 2017; Ord. 85-61 § 1 (part), 1985; Res. 22711 § 1 (part), 1981; Res. 22523 § 1 (part), 1980; prior Code § 2.26.020)

2.108.030 Department Assigned Duty.

A.    There is delegated to the Purchasing Agent of Pierce County the responsibility of coordinating an annual inventory of Pierce County personal property reporting the results thereof to the County Executive.

B.    The Purchasing Agent may develop new forms as required.

(Ord. 85-61 § 1 (part), 1985; Res. 22711 § 1 (part), 1981; Res. 22523 § 1 (part), 1980; prior Code § 2.26.030)

2.108.040 Responsibility of Elected Officials and Department Heads.

A.    Physical Inventories. Each office and department will receive an annual inventory update document prior to their scheduled inventory. This document shall be used to reconcile the department inventory. Missing or incorrect information shall be reported to the Purchasing Agent using Pierce County inventory control system form. The inventory reconciliation shall be conducted by a person or persons neither directly responsible for the asset nor supervised by the person responsible for the assets.

B.    Upon completion of this reconciliation, a report shall be submitted to the Purchasing Agent stating the information is correct or shall be corrected by submitting the completed Pierce County inventory control system forms for each correction necessary. After receiving these reports from all departments in Pierce County, the Purchasing Agent shall cause all corrections to be entered in the inventory system.

C.    After determining that all corrections to the fixed asset inventory have been completed, a final inventory listing will be submitted by the Purchasing Agent to the County Executive.

(Ord. 85-61 § 1 (part), 1985; Res. 22711 § 1 (part), 1981; Res. 22523 § 1 (part), 1980; prior Code § 2.26.040)

2.108.050 Fixed Asset Depreciation Policy.

The method for determining a depreciation schedule for County personal property inventoried fixed assets will be determined by the Finance Director. (Ord. 2017-12s § 2 (part), 2017; Ord. 85-61 § 1 (part), 1985; Res. 22711 § 1 (part), 1981; Res. 22523 § 1 (part), 1980; prior Code § 2.26.050)

2.108.060 Identification of Pierce County Personal Property – Inventory.

A.    All inventoried property is identified, marked with the property number and recorded promptly upon receipt, and shall remain so identified as long as it is in the custody, possession or control of Pierce County.

B.    The assignment of the property number to the equipment is the responsibility of the Purchasing Agent. The property number is applied to the actual unit by the ordering department. Should the identification number be accidentally or mistakenly obliterated, defaced or removed, the equipment shall be marked again with the original number.

(Ord. 85-61 § 1 (part), 1985; Res. 22711 § 1 (part), 1981; Res. 22523 § 1 (part), 1980; prior Code § 2.26.060)

2.108.070 Theft or Loss of Assets.

Any theft or loss of County-owned assets, including County-owned personal computers, smart phones, or related equipment, should be immediately reported to the Finance Department. Additionally, theft or suspected theft of an asset valued at $500.00 or more must be reported to the appropriate law enforcement agency. (Ord. 2017-12s § 2 (part), 2017; Ord. 2014-36 § 1, 2014; Ord. 85-61 § 1 (part), 1985; Res. 22711 § 1 (part), 1981; Res. 22523 § 1 (part), 1980; prior Code § 2.26.070)

2.108.080 In-Department Transfer.

Each transfer from one office or department to another is reported by the receiving office to the Purchasing Department on a fixed asset transfer form available from the Purchasing Department. (Ord. 85-61 § 1 (part), 1985; Res. 22711 § 1 (part), 1981; Res. 22523 § 1 (part), 1980; prior Code § 2.26.080)

2.108.090 Responsibility of Purchasing Agent and Department.

The Purchasing Agent shall have on file in his office, for each equipment purchase of $300.00 or more, a copy of the purchase order denoting the Pierce County property number thereon, with a copy of the approved invoice and any other documentation required for a satisfactory audit. In addition, a copy of this information shall be furnished to the ordering department as historical documentation and audit back-up. These files shall be known as the inventory control file and shall be filed separately from other purchasing records. (Ord. 85-61 § 1 (part), 1985; Res. 22711 § 1 (part), 1981; Res. 22523 § 1 (part), 1980; prior Code § 2.26.090)