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<br />. <br /> <br />. <br /> <br />. <br /> <br />t <br /> <br />~ <br />~!:lILLS <br /> <br />CITY OF ARDEN HILLS <br />COUNTY OF RAMSEY <br />STATE OF MINNESOT A <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 rep011ing requirements, and provides managcment intormation; and <br /> <br />WHEREAS, the City of Arden Hills has developed a policy that detines capitalization thrcsholds <br />for different types of capital assets, provides direction ou capital asset reporting and depreciation, and <br />oullines the useful life of various classes of capital assets. <br /> <br />NOW THEREl'ORE, 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 />~~~~. <br />BeYerly Apli ",ski, AYOR <br /> <br />~~( YUill <br /> <br />Michelle Wolfe, Administrator ~ <br /> <br />\\Em1h\Admin\Council\Resolutiolls\2004\04-16, Approving the Capital Asset Policy.doc <br />