Number
R_12825
Version
Original
Reference
Sponsor
The Chair
Title
Resolution approving the write-off of fixed assets
Analysis
Body
WHEREAS, the Housing Authority of the City of Milwaukee has certain fixed assets recorded in its accounting records based upon original purchase value; and
WHEREAS, staff has determined that the attached list of fixed assets will be disposed of as of the end of the current fiscal year; and
WHEREAS, these assets were disposed of through sale of scrap as appropriate; and
WHEREAS, HACM’s accounting policy requires that the Board of Commissioners approve the write off of amounts related to the disposition of fixed assets; and
WHEREAS, the Secretary-Executive Director recommends a fixed asset write off of $40,759.50 for the fiscal year ending December 31, 2016; now, therefore, be it
RESOLVED, that a write off totaling $407,759.50 for the attached list of fixed assets be and is hereby approved.
Requestor
Drafter
Rick Koffarnus
December 6, 2016