Agenda - 11-18-1980 - Laserfiche WebLink

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'S n� 7u9 t.. The definition of a fixed asset usually consist of a minimum monetary value that item must at least be worth and a min crSteria too high,imum time period in which the item ii_e_ expected to remain in useful condition. if one sets these a high monetary value and a long usedful life, then many ite that o ache fixed ,included in the fixed asset system will be excluded and the purpose asset system will defeated. On the other band, if one sets the criteria too low, for items of minimum value then the administrative casts of trying to control will. be prohibitive. in ordel7 besOranee�Cauny�s defins'.tioneof awfi�cec asset g ' approaches, the following ,sha 3 T . "A faxed asset is any equipment, furniture, or appartus, that has, ai acquisition cost.of $1,00.00 and an expected Viand f seful life Central more than one year. The Director of purchasing. Sefvices may at his or'her discretion add items" to the £i.xed asset system that do not meet this definition." such as since the County allows the use of County-ownroups and not tables,. and recreational egiiipment-to be used ]ay g ermanent basis;or dl�ect.7.y supefvi.sed„by orange County either on.a temporar it will er be policy of more control shauld.be placed on these items. Therefore, the pepartment of Purchasing and Central Services to use its discretionary power to cause to be inciuded _in the fixed asset system any County-awned piece of equipment, furniture or apparatus that is lent either temporarily or permanently to an outside organization-, even though the monetary value of the item may be less than $100.00. In axder to remove from the fixed asset system items already present in it that did not meet the definition of a fixed asset in effect at the time they were placed in the system or tai remove items that may have been inadvertently placed in the fixed asset system when'they delete othose items efrom the fixed asset been, the.Direct= of purchasing and Central Services may system.