DOCUMENT

POL - Memo - Fixied Asset Inventory 2006

  • YEAR CREATED: 2006
  • ENTITY TYPE: City/Township
  • TYPE OF DOCUMENT: POL - Policies/Procedures
The document is an inter-office memorandum from Patrick G. Gill, the Director of General Accounting at the City of Hollywood, Florida. The memorandum is addressed to Cynthia McCormack, the Director of Management and Procurement Services, and is also sent to Carlos E. Garcia, the Director of Financial Services. The subject of the memorandum is the fixed asset inventory for Division 1105 (Management and Budget) and Division 1134 (Procurement Services). The fixed asset inventory will be conducted from May 26, 2006, to July 7, 2006, and will consist of three phases. Phase I involves a visual confirmation of each asset by a designated individual from each department/office. The Department of Financial Services will provide inventory procedures and reports to each department/office, and this phase must be completed by June 16, 2006. Phase II involves a reconciliation of assets on hand with assets shown on the Fixed Asset inventory Report. Representatives from each department/office will complete this stage and identify assets that are in use but not recorded, assets that are recorded but no longer in use, and assets that have been transferred to other divisions. Reverse requisitions must be prepared during this phase to delete discarded, destroyed, or inoperable assets from the City's fixed asset records. This phase must be completed by July 7, 2006, and all reports and reverse requisitions must be submitted to the General Accounting Division of the Department of Financial Services. Phase III involves tagging assets that require City decals and performing random verification of selected assets by representatives from the Department of Financial Services. Each department/office will designate one or more individuals to act as representatives and assist in the inventory process. They will be responsible for completing Phases I and II using instructions provided by the Department of Financial Services. In Phase III, the representatives will assist the Department of Financial Services staff by locating fixed assets selected for visual confirmation or requiring City decals and providing research to answer questions about fixed assets. The memorandum concludes by recommending that responsible individuals be selected as representatives immediately to minimize the time and effort required for the inventory. The selected representatives are instructed to contact Yolanda Maldonado-Juriga in the Department of Financial Services for additional instructions. Cooperation and assistance in the project are appreciated.
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