§ 2-474. Record of acquisition and inventory of personal property.

(a) For each acquisition of personal property by purchase, donation, grant, forfeiture, exchange or other means when said property has a value at the time of acquisition equal to or exceeding the value stipulated in F.S. § 274.02, and a normal expected life of one (1) year or more, the department head or his designee shall, provide to the assets custodian a completed property record within five (5) business days after acquisition of the property. If the property is acquired by purchase, a copy of the invoice shall be forwarded to the assets custodian at the same time the invoice is forwarded to the finance department for payment. If the property is acquired by some means other than by purchase, documentation of value in a form acceptable to the finance director shall be forwarded to the assets custodian with the property record.

(b) Upon receipt of the property record from the department, the assets custodian shall add the property to the schedule of fixed assets.

(c) Each item of property which it is possible to identify by marking shall be marked in the manner required by the auditor general.

(d) A complete physical inventory of all personal property shall be taken annually under the supervision of the assets custodian, and the date inventoried shall be entered on the property record. The inventory shall be compared with the property record and the schedule of fixed assets, and all discrepancies shall be traced and reconciled.

(e) At the close of each fiscal year, a complete schedule of fixed assets shall be filed by the assets custodian with the city clerk for permanent retention in the official records of the city.

(f) The record-keeping requirements of this section shall apply to all personal property acquired after October 1, 2000. A complete property record in the form required by this section shall be created for property acquired prior to October 1, 2000, and remaining in the city's inventory of personal property on that date.

(Ord. No. 95-01, § 1, 2-21-95; Ord. No. 2000-16, § 1, 9-19-00; Ord. No. 2001-04, § 1, 4-17-01; Ord. No. 2011-32, § 1, 12-20-11; Ord. No. 2013-17, § 1, 11-5-13)