# Attachment 3 - Assets – Recording, Identification and Disposal Policy (POL-0038-FIN)

Meeting: Advisory Committee — April 28, 2026

Canonical HTML: [Open Langford](<https://openlangford.ca/meetings/2026-04-28-advisory-committee/documents/171>)

Meeting record updated: 2026-10-19T15:41:47.416618+00:00

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Source: [Agenda](<https://pub-langford.escribemeetings.com/FileStream.ashx?DocumentId=17769>)

Source pages: 74–74

## AI-processed summary

Legacy policy describing asset inventory thresholds, disposal authorization, and acceptable disposal methods; proposed to be rescinded and replaced by provisions in the new Purchasing Policy.

## Extracted text

### DISTRICT OF LANGFORD

Source pages: 74–74

## DISTRICT OF LANGFORD

### POLICY NO.: 1610.01 -CC1

### POLICY: ASSETS - RECORDING, IDENTIFICATION AND DISPOSAL

[Image: scanned policy page]

1. An inventory of all capital assets shall be maintained by the Finance Department.

2. Assets valued in excess of $500.00 and having a life expectancy of more than (1) year are to be kept on inventory until disposed of.

3. Assets having an estimated disposal value of greater than $2,000.00, and not used as a trade in on a replacement asset, shall not be disposed of unless authorized by Council.

4. The Clerk-Administrator may authorize the disposal of assets valued at less than $2,000.00 which are declared surplus or obsolete by a Department Head.

5. Disposal of assets, other than those used as a trade in, shall be by auction, invitational or closed tender, or destruction.

| Approved by Council: | CERTIFIED CORRECT: |
|---|---|
| Date: June 5, 1995 | [Image: signature] Clerk-Administrator |