Legal Documents of Jefferson City

A physical inventory of the city’s property and equipment with a value of $500.00 or greater will be taken annually. Any property, equipment, or infrastructure with a value of $5,000.00 or greater and a life longer than the current year will be recorded as a fixed asset. A system of fixed asset records provides a simple method of positive identification for each piece of equipment. It prevents the purchase of:

1. Duplicate assets;
2. Provides a basis for insurance claims;
3. Reduces theft and negligence;
4. Sets replacement schedules for equipment; and
5. Tracks transfer or disposal of surplus property.

Any property and equipment that meets the criteria for a fixed asset shall be assigned an asset number and city property tag, have a completed property card, depreciated and inventoried annually. Any property and equipment with a value between $500.00 and $5,000.00 will be assigned a city property tag, have a completed property card and inventoried annually. Such records shall be controlled and maintained by the city recorder. (1996 Code, § 6-518, as amended by Ord. #2002-10, June 2002)