Page 415 - Fort Worth City Budget 2019

Capital Assets Policy

The Capital Assets Supervisor is responsible for reconciling the balance recorded in the
PSAM system to the ending balance of the General Ledger at least monthly.

XV. Physical Inventory

Each department must perform an Annual Asset Physical Inventory. The department
designee is responsible for verifying the accuracy of the assets recorded in PSAM based
on their physical observation of the department's assets.

XVII. Acquisition of Capital Assets

Capital assets shall be acquired by the City of Fort Worth, following all required federal,
state, and local purchasing requirements. Assets acquired by the City shall be budgeted
and purchased only in capital project funds. No assets are to be acquired from operating
funds.

For additional information or questions concerning this policy, please contact the FMS Capital
Asset team at (817) 392-2460.

12 | P a g e

415