[Adopted 8-20-2002 (Ch. 11, § 11.41, of the 1986
Code)]
A.
The County Auditor shall conduct an inventory to establish
and maintain current fixed asset records. These records shall provide
lists and summaries of all assets owned by the County of McLean, subject
to the limitations set forth herein, accurate historical costs, or
estimates where necessary, and each asset's location.
B.
The following fixed asset accounts shall be used in
this records system:
(1)
Land: a fixed asset account which reflects the cost
of land owned by the County.
(2)
Buildings: a fixed asset account reflecting the acquisition
costs of permanent structures owned or held by the County and improvements
thereon.
(3)
Improvements other than buildings: a fixed asset account
which reflects the acquisition value of permanent improvements other
than buildings, which add value to land, including but not limited
to fences, retaining walls, sidewalks, pavements, gutters, tunnels,
bridges and other such structures and improvements (land improvements).
(4)
Machinery and equipment: a fixed asset account which
reflects the acquisition cost of tangible property of a more or less
permanent nature, other than land or buildings and improvements thereon,
including but not limited to machinery, tools, trucks, cars, furniture,
furnishings and other such machinery and equipment.
(5)
Infrastructure: long-lived capital assets that normally
are stationary in nature and normally can be preserved for a significantly
greater number of years than most capital assets. Examples of infrastructure
assets include roads, bridges, tunnels, drainage systems, water and
sewer systems, dams, and lighting systems.
C.
For financial reporting purposes, the County Auditor
shall record the stated value of each fixed asset as follows:
D.
The County Auditor shall maintain a current fixed
asset inventory by developing procedures and forms to process and
report all acquisitions, adjustments, transfers, and retirements.
Any changes shall be reported in the inventory in a timely manner.
Procedures shall be established to take periodic physical inventories
of fixed assets, especially machinery and equipment. A system shall
be established for the inventorying of a portion of the fixed assets
each year, which will result in the County Auditor having inventoried
all fixed assets over a period of four years.
A.
The County Auditor shall be authorized to determine
the useful life of all fixed assets.
B.
Motor vehicles and heavy construction equipment shall
be depreciated to a predetermined salvage value. The salvage value
shall be set by the County Auditor with the assistance of the particular
department head and any industry standards which may be available.
A.
The receipt of any asset valued at $10,000 or more
which is given, donated, or otherwise received by any County department
or office shall be immediately reported to the County Auditor for
inclusion in the fixed assets inventory.
B.
No County office or department shall transfer, release,
discard, or dispose of any asset recorded in the County's fixed assets
inventory without obtaining the necessary authorization from the County
Auditor. A completed capital item release request form must be submitted
to the County Auditor before approval may be given.
C.
Disposal of excess assets.
(1)
Any County elected official or department head who
wishes to discard or dispose of any obsolete, outdated, or otherwise
unusable fixed assets shall so indicate that intention to the County
Auditor through the use of the capital item release request form.
Upon approval of the County Auditor, assets marked for disposal shall
come under the jurisdiction of the Facilities Manager. The Facilities
Manager shall compile and publish annually a list of these assets
and shall circulate the list among the various County department heads.
Any department or office may request any or all of the listed assets
for its own use. In the event of more than one request for any specific
item, the Facilities Manager shall determine the recipient. Any assets
remaining unclaimed by any office or department head shall remain
under the jurisdiction of the Facilities Manager, who, upon the approval
of the Property Committee, shall be authorized to:
(a)
Conduct, after publication in a newspaper of
general circulation in McLean County, a public auction, proceeds of
which shall be placed in any such fund or funds as may be determined
by the County Administrator in each instance; or
(b)
Offer the assets to local governments and school
districts that have some or all of their corporate boundaries lying
within McLean County; or
(c)
Offer the assets to bona fide not-for-profit
corporations after publication in a newspaper of general circulation
in McLean County.
(2)
Assets, which are unable to be disposed of in accordance
with this subsection shall be disposed of at a sanitary landfill.
D.
The County Auditor shall make a general annual report
to the Finance Committee of the County Board relating to fixed assets.[1]
[1]
Editor's Note: Former Art. VI, Juror's Per-Diem and Mileage
Allowances, adopted 8-22-2006 (Ch. 11, § 11.89, of the 1986
Code), which immediately followed this section, was repealed 5-19-2015.
