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Capital Assets Policy <br />Page 2 <br />-------------------------- <br />`..- <br />2) To Another Government A�encv — Surplus property or non-expendable <br />supplies may be sold to a government agency without going through the public <br />sale process if approved by the City Council. A capital assets form must be <br />completed and submitted to the City Clerk's Office. <br />Trade-Ins. Retiring a capital asset as a trade-in for a new acquisition will require a <br />capital assets form to be completed and submitted to the City Clerk's Office. <br />Lost. Stolen or Dama�ed Bevond Renair. When a capital asset or non-expendable <br />supply is retired from the capital asset system through one of these unexpected methods, <br />the incident will be reported to the appropriate law enforcement personnel (if applicable) <br />and a capital assets form must be completed and submitted to the City Clerk's Office. <br />Transfers. When transferring a capital asset from one department to another, it is the <br />responsibility of the department losing the asset to complete a capital assets form and <br />submit it to the City Clerk's Office. <br />Betterments. Also known as "additions to" an asset already in the system which have <br />the effect of extending the useful life of an existing asset and is an expenditure other than <br />normal maintenance and upkeep. It is the responsibility of the department acquiring the <br />"betterment" to complete a capital assets form and submit it to the City Clerk's Office. <br />`. <br />� <br />