Finance and Audit Committee
Amendment
May 17, 2004
IN THE COUNTY LEGISLATURE OF JACKSON COUNTY, MISSOURI
Title
AN ORDINANCE repealing sections 1130., 1131., 1132., 1133., and 1137., Jackson County Code, 1984, relating to the disposal of County-owned personal property, and enacting, in lieu thereof, three new sections relating to the same subject.
Intro
ORDINANCE 3482, March 29, 2004
INTRODUCED BY Ronald E. Finley, County Legislator
Body
WHEREAS, Government Accounting Standards Board (GASB) Statement 34 now requires governmental entities to account for capital assets in much the same manner as is done in the private sector, to include maintenance of records and reporting on depreciation method, salvage value, and useful life; and,
WHEREAS, GASB Standard 34 also requires a governmental entity to calculate the gain/loss from the sale of a fixed asset upon its disposal, and to properly account for the gain or loss; and,
WHEREAS, over the past several months, an ad hoc committee of County staff have met to consider how the County can best complement the requirements of GASB Standard 34; and,
WHEREAS, the committee has made the recommendations incorporated in this Ordinance; now therefore,
BE IT ORDAINED by the County Legislature of Jackson County, Missouri, as follows:
Section A. Enacting Clause.
Sections 1130., 1131., 1132., 1133., and 1137., Jackson County Code, 1984, are hereby repealed and three new sections enacted in lieu thereof, to be known as Sections 1130., 1131., and 1137., to read as follows:
1130. Personal Property[, Authorization For Sale] Disposal, Cost of Less Than Five Thousand Dollars.
Upon the recommendation of any department director or head of any other county agency or office, the Director of Purchasing, with the approval of the Director of Finance, is authorized to dispose of any item of personal property in the custody or control of the recommending department, agency, or office, that h...
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