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<br />~ <br />~!lILLS <br />CITY OF ARDEN HILLS <br />COUNTY OF RAMSEY <br />STATE OF MINNESOTA <br /> <br />RESOLUTION No. 04-16 <br /> <br />RESOLUTION APPROVING A CAPITAL ASSET POLICY <br /> <br />WHEREAS, the Governmental Accounting Standard Board's Statement Number 34 requires <br />governments to report capital assets and to depreciate the capital assets over their estimated useful lives; <br />and <br /> <br />WHEREAS, as a result of the Governmental Accounting Standard Board's Statement Number 34 <br />it is necessary for the City to develop and implement a Capital Asset Policy that meets the new financial <br />statement reporting requirements, and provides management information; and <br /> <br />WHEREAS, the City of Arden Hills has developed a policy that defines capitalization thresholds <br />for different types of capital assets, provides direction on capital asset reporting and depreciation, and <br />outlincs the useful life of various classes of capital assets. <br /> <br />NOW THEREFORE, BE IT RESOLVED by the City Council of the City of Arden Hills, <br />Minnesota, that the Capital Asset Policy attached as "Exhibit A" to this resolution is hereby adopted. <br /> <br />ADOPTED BY THE CITY COUNCIL OF THE CITY OF ARDEN HILLS THIS <br />12th DAY OF JANUARY, 2004, <br /> <br />Beverly Aplikowski, MAYOR <br /> <br />ATTEST: <br /> <br />Michelle Wolfe, Administrator <br /> <br />\\Earth\Admin\Council\Resolutions\2004\04- J 6, Approving lhe Capital Asset Policy.doc <br /> <br />. <br />. <br /> <br />. <br /> <br />. <br /> <br />. <br /> <br />. <br />