Policy No.: 100.001
Resolution No.: R108-02
Date Approved: 10/28/2002
Supersedes the following Resolutions & Policies: 36-84

Policy

(Approved by the Board of Park Commissioners.)

Purpose:

The Metropolitan Park District of Tacoma (Metro Parks Tacoma) is accountable to its citizens for its use of public dollars. The limited financial resources of Metro Parks Tacoma must be wisely used to ensure adequate funding to support the services, public facilities, and infrastructure necessary to meet the community’s present and future needs.

This Property and Equipment Policy establishes when approval from the Board of Park Commissioners is required; establishes a requirement that the Executive Director develop procedures to implement policy directives of the Board, and provides for periodic reporting to the Board regarding the purchase or construction of property and equipment activity of the Board of Park Commissioners.

Policy Requirements:

Section I.

The Board of Park Commissioners is charged with establishing the policy direction for Metro Parks Tacoma under Washington State law. Sound business practice and good government dictates that the Board establishes policies regarding the fiscal activities of Metro Parks Tacoma in accordance with applicable local, state, and federal laws and regulations.

Section II.

The term Capital Assets means real and personal property that Metro Parks Tacoma intends to use or keep for more than one year. Capital Assets include land and land rights; improvements and infrastructure; buildings; equipment, machinery, vehicles, and tools. The term infrastructure means roads, bridges, paths, sidewalks, water lines, sewers, drainage systems, and the like. Infrastructure should be capitalized in proprietary funds. It has not historically been capitalized in governmental fund types, but current accounting standards require capitalization of these costs.

Section III.

Capital Assets do not include spare parts or materials; repairs that do not extend the life of the asset; supplies or paper products; or animal stock. Routine repairs and maintenance costs should be expensed as they are incurred. Also any special exhibit costs not expected to have more than one year of usage should also be expensed in the year incurred.

Section IV.

Metro Parks Tacoma will identify and tag Capital Assets costing more than $5,000 and record them in our financial records as capital assets. Assets costing less than $5,000, which are easily moveable and attractive, will also be identified and tagged in order to track and safeguard them against theft or loss.

Section V.

RCW 35.61.132 authorizes Metro Parks Tacoma to sell, exchange or dispose of any personal property acquired for park purposes when such property is no longer suitable for park or other recreational purposes. RCW 35.61.130 authorizes the Board of Park Commissioners to conduct and manage the sale of merchandise and conduct such forms of business production of revenue or expenditures for park purposes.

Section VI.

A declaration that the capital assets are no longer suitable for park or other recreational purposes shall be by unanimous vote of the Board of Commissioners.

Section VII.

Items of surplus or unsuitable property may be traded or exchanged for like property; provided, that the net benefit to Metro Parks Tacoma be not less than separate buy-sell transactions.