[HISTORY: Adopted by the Town Board of the Town of Kingsbury 5-22-1978 (Ch. 3 of the 1983 Code). Amendments noted where applicable.]
The Supervisor of the Town of Kingsbury be and he hereby is designated as the person responsible for the coordination, development and maintenance of the fixed asset records. He shall be responsible for developing, in writing, rules and regulations as to maintaining fixed asset property records and for the development of proper forms for the maintaining of such records. All officers and employees of the Town of Kingsbury shall cooperate with the said Supervisor in the inventory and maintenance of fixed assets and their records.
The forms and procedures to be developed by the Supervisor of the Town of Kingsbury shall comply with the applicable laws and requirements of the New York State Department of Audit and Control pursuant to § 36 of the General Municipal Law.
The minimum standards for the inclusion in the fixed asset records are those items which have a significant value. The Town Board of the Town of Kingsbury shall determine an item to have "significant value" if the estimated cost is over $5,000 and has an estimated life use of five years and is an item not readily diminished by use or consumption.