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CHARTIABLE VENTURES OF ORANGE COUNTY (DBA PROJECT KINSHIP)
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CHARTIABLE VENTURES OF ORANGE COUNTY (DBA PROJECT KINSHIP)
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Last modified
12/7/2023 3:45:18 PM
Creation date
7/23/2019 11:47:57 AM
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Contracts
Company Name
CHARTIABLE VENTURES OF ORANGE COUNTY (DBA PROJECT KINSHIP)
Contract #
A-2019-097
Agency
COMMUNITY DEVELOPMENT
Council Approval Date
7/2/2019
Destruction Year
2025
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Charitable Ventures <br />P� T <br />r Omn� icon Policies and Procedures -- <br />CAPITAL EQUIPMENT/ASSET TRACKING <br />Capital Equipment/Asset is defined as property having a useful life of one year or more and a minimum <br />acquisition cost of $2,500.00 per unit. Capital Assets must be inventoried and controlled in accordance <br />with CVOC policy. Merchandise may be disposed of only in accordance with CVOC policy. When a <br />Capital Asset becomes obsolete, proper notification must reach CVOC so the asset can be removed from <br />the log and the tag number retired. The accounting department must be aware of capital asset <br />retirements in order to remove the asset from the depreciation schedule and make the appropriate <br />journal entries to the accounting general ledger. Proper notification should include the capital asset <br />tracking number, a description of the asset and any proceeds gained from the sale of the asset if it is <br />sold. The sales of the asset can only be done with CVOC's approval. <br />An asset tag will be assigned to each capital asset by CVOC. CVOC accounting department will maintain a <br />master list of all fixed assets and the exact location of the asset. Each time an employee moves a capital <br />asset to a different location orjob site, the movement should be noted on the capital asset log. CVOC <br />may track capital assets through site visits looking for damages, theft and other issues that could impair <br />their functionality. <br />Most of capital assets come with a manufacturer's warranty. All capital assets should be registered with <br />the manufacturer and any employee using the asset should be given the manufacturer requirements for <br />maintaining warranty compliance. Warranty information on all capital assets should be stored in a <br />central location so it's easy to access in case you need warranty work. <br />
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