14-237-108. Fixed asset records.

Arkansas Code — all titles (historical 2020) · legal_authorities

14-237-108. Fixed asset records.

14-237-108. Fixed asset records. (a)(1) Each water and sewer department's governing body shall adopt a policy defining fixed assets. (2) At a minimum, the policy shall set forth the dollar amount and useful life necessary to qualify as a fixed asset. (b)(1) Each department shall establish by major category and maintain, as a minimum, a listing of all fixed assets owned by the department. (2) The listing shall be totaled by category with a total for all categories. (3) The categories of fixed assets shall include the major types, such as: (A) Land; (B) Buildings; (C) Motor vehicles; (D) Equipment; and (E) Other. (c) For each fixed asset, the listing shall contain, as a minimum: (1) Property item number if used by the department; (2) Brief description; (3) Serial number, if available; (4) Date of acquisition; and (5) Cost of property.

Source: Arkansas Code — historical release 78 (November 6, 2020) · 14-237-108

Stored review status: Historical 2020-11-06 source release; later amendments not reconciled; machine-extracted, not independently legally reviewed; source heading status: text_in_historical_source. A text match is a research starting point; applicability is not established.