HomeMy WebLinkAbout(2011, 09/27) - F-11 - AmendedF-11
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CUSTODY AND DISPOSAL OF CONTROLLED PROPERTY
PURPOSE
To set forth the City’s policy concerning custody and disposal of controlled property.
DEFINITION
Controlled Property is generally defined as portable equipment, tools and furniture
subject to theft, loss or misuse. Conversely, major capital assets with no potential for
theft, such as buildings, land and other infrastructure assets affixed to the earth are
exempted from this policy. For further discussion of “Controlled Property” and
property control procedures, see Administrative Procedures concerning Controlled
Property.
PROPERTY CONTROL RESPONSIBILITIES
The Finance Director shall establish and maintain citywide property acquisition and
disposal procedures. However, the ultimate accountability for Controlled Property,
along with the responsibility for maintaining reasonable safeguards to secure
Controlled Property, lies with the Department Head that acquired the property until
such time the item has been formally transferred to another Department Head or has
been formally approved by the Finance Department for sale/disposal. Procedures for
acquisition, transfer, sale/disposal of controlled property vary by property type and
value and are addressed through Administrative Procedures. As property custodians,
Departments Heads are also responsible for a periodic inventory of their Controlled
Property in accordance with Administrative Procedures. At the discretion of the
Finance Director, material losses or discrepancies in Controlled Property will be
reported to the Finance Committee.
Adopted - January 24, 1994
Corrected - February 26, 1996
Amended - August 12, 1996
Amended – April 23, 2002
Amended – April 13, 2004
Amended – September 27, 2011