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File #: R13020    Version: 0
Type: Housing Authority Resolution Status: Passed
File created: 1/11/2019 In control: HOUSING AUTHORITY
On agenda: 1/16/2019 Final action: 1/16/2019
Effective date:    
Title: Resolution approving the write off of fixed assets
Sponsors: THE CHAIR
Attachments: 1. HACM Dispostions 2018 - Write-Off of Fixed Assets

Number

R13020

 

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 $127,853.90 for the fiscal year ending December 31, 2018; and effective December 31, 2018; now, therefore, be it

 

RESOLVED, that a write off totaling $127,853.90 for the attached list of fixed assets be and is hereby approved.

 

Requestor

 

Drafter

Accounting, December 18, 2018