Res 1992-015 - Laserfiche WebLink

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2.5 PHASE I 2.5.1 Planning Meeting The CONSULTANT shall conduct a thorough field investigation and inventory of the CITY's assets. An initial planning meeting will be held with key CITY department personnel in order to firmly establish the parameters to be followed during the Agreement. The initial planning meeting will include topics such as: ( 1) The current policies of the City regarding capitalization, accounting, depreciation, asset management, economic life, department cost centers and available cost records. (2) Finalizing the work schedule, and completing arrangements whereby department heads will extend full cooperation to the CONSULTANT to guarantee accessibility to the assets to be inventoried. ( 3) Review of intended report formats for the final output of the Agreement and set the delivery date. (4) Establishment of procedures for City employees to perpetuate the property records after the appraisal inventory is taken. (5) Review of the property locations and asset classifications that are to be included as part of the appraisal project. ( 6) Review of the inventory procedures, methodology, and valuation procedures to be útilized. (7) Determination of the matter of original lifing practice versus estimated actual lives. 2.5.2 Physical Inventory The CONSULTANT shall conduct a detailed inventory and appraisal service which shall include a physical inspection and inventory of all City-owned property as identified in Paragraph 2.3. The specific elements to be captured are: Accounting Department Acquisition Date Asset Category Asset Class Asset Description Asset Location Asset Number Building Identification Condition Codes Estimated Life Fund Codes Fund Source Codes Insurable Values Quantity Original Cost Normal Costing Standard Costing Inventory will be completed by the CONSULTANT on a room-by-room basis with organizational unit structure (Building/Department/Office)