119.00 ACQUISITON AND DISPOSAL OF COLLEGE PROPERTY
1.0 ACQUISITION OF COLLEGE PROPERTY
Cowley College Board of Trustees authorizes the Vice President of Finance and Administration to record capital assets, i.e., fixed assets valued in excess of $5,000, on the college’s general ledger (books). The Vice President of Finance and Administration is responsible for the execution of an annual capital asset inventory to satisfy the “general accepted accounting principles” provision of the annual financial statement audit, and in accordance with federal and state law.
2.0 DISPOSAL OF COLLEGE PROPERTY
Cowley College Board of Trustees authorizes the Vice President of Finance and Administration or designee to dispose of unneeded (surplus) college property periodically in accordance with the appropriate procedures for disposal of capital assets.
Adopted: October 16, 2017