The Town of Culver is outlining how it will keep track of its assets. The town council recently adopted a capital asset policy.
Clerk-Treasurer Karen Heim said it was put together when the town hired Peterson Consulting to do a capital asset study earlier this year, and she asked for council members’ official approval. “Basically, it states that we will list out assets of value $5,000 or above, and then we’ll also keep track of, in a separate listing, those assets that would be less than $5,000 but sensitive, things like computers, firearms for the police, that type of thing,” Heim explained.
She added that inclusion on the list is based on purchase price. “So if you’re buying one item that’s valued $5,000 or above, that would go on that capital asset listing,” Heim said. “It would depreciate over time.”
The policy officially took effect December 1.
