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Huron-Kinloss council has okayed the Tangible Capital Asset and
Amortization Policy as presented by treasurer Jodi MacArthur at the
genera committee meeting Monday (Dec. 7).
The policy has been used to develop the asset inventory in order to be
in compliance with the Public Sector Accounting Board requirements, as
dictated by the provincial government. The projgram requires all
municipalities to take stock of, and provide a value for, all their
assets, including bridges, roads and buildings.
MacArthur said the township hired several students to help her and
deputy treasurer Christine Heinisch complete the project, working with
municipal engineer B.M. Ross and Associates.
"Is there a purpose to all of this?" asked councillor Anne Eadie. "I
have some difficulty calling a bridge an asset when we know nobody is
going to buy it. That's somewhat misleading."
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"It's valuable to know our municipality's true worth," said
councillor Lillian Abbott.
"And it will help with asset management and liabilities," said
MacArthur. "We can track them easier."
"We already have a bridge study and a roads needs study," said Eadie.
Mayor Mitch Twolan said this program is the government's way of making
everything consistent all across the province.
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