Government's current policies/practices for asset inventories
Full Question Text
Some local governments adopt formal policies regarding financial planning and management, while others take a more informal approach. Below is a list of recommendations from the Government Finance Officers Association (GFOA). Thinking across your jurisdiction's various types of funds, generally speaking, please identify which of the following descriptions most closely represents your government's current policies or practices, if any, for asset inventories (regularly updated inventory and assessment of the condition of all major capital assets (e.g., buildings, water and sewer, major equipment, etc.)).