Dear Reader:
The following document was created from the MTAS electronic library known as MORe (www.mtas.tennessee.edu/more). This online library is maintained daily by MTAS staff and seeks to represent the most current information regarding issues relative to Tennessee municipal government.
We hope this information will be useful to you; reference to it will assist you with many of the questions that will arise in your tenure with municipal government. However, the Tennessee Code Annotated and other relevant laws or regulations should always be consulted before any action is taken based upon the contents of this document.
Please feel free to contact us if you have questions or comments regarding this information or any other MORe material.
Sincerely,
The University of Tennessee
Municipal Technical Advisory Service
1610 University Avenue
Knoxville, TN 37921-6741
865-974-0411 phone
865-974-0423 fax
www.mtas.tennessee.edu
The following explanations are offered to assist with completing ledger cards.
Accumulated Capital Asset Amount: Include in this amount the initial cost plus betterments to arrive at total investment cost.
Authority: Name of the person, board or council authorizing disposal of the asset.
How and From Whom Acquired: The “how” should indicate whether the asset was acquired through condemnation, as a gift, etc.
Method of Price Evaluation: Indicate how the price of the asset was determined. If other than cost, the name of the person making the evaluation should appear on the next line.
Other Comments: Should be used to report anything unusual or unique about this asset.
Property Number: This refers to the CAAS number assigned to this particular capital asset. It should be noted if this number has not been affixed to the asset.
Reference: This space should be used to indicate the source of the authority, such as minute book number and page number.
Source of Funds: This refers to the fund financing the asset, as well as whether by rental, purchase, etc.
Tax Map Reference: For counties in which the reappraisal program has been completed, this information can be obtained from the tax assessor.
DISCLAIMER: The letters and publications written by the MTAS consultants were written based upon the law at the time and/or a specific sets of facts. The laws referenced in the letters and publications may have changed and/or the technical advice provided may not be applicable to your city or circumstances. Always consult with your city attorney or an MTAS consultant before taking any action based on information contained in this website.
| |