Item Coversheet
BOARD OF HEALTH STAFF REPORT (SR 22-005)
February 8, 2022
Action

Approve policy POL 130.003 concerning capital & small and attractive assets (SR 22-005; N. Thomsen, S. Centanni)

Division:
Administration / Nicole Thomsen, Health Policy Analyst 
Prior Board Review:
PPC, 6/17/21, 9/16/21, 1/20/22; Admin, 6/23/21, 9/22/21; Exec , 9/23/21, 1/31/22 

Background

This policy is revised to provide guidelines to ensure adequate stewardship over Health District resources through control and accountability of assets, and to collect and maintain complete and accurate asset information required for preparation of financial statements in accordance with generally accepted accounting principles.

 

This policy complies with, and responds to, parts of the 2019 Office of the Washington State Auditor Financial and Federal Single-Audit Management Letter relating to asset management to, “Develop a capital asset policy that establishes procedures for maintaining, tracking, and recording capital assets, including an inventory of these items.”  And the 2020 Office of the Washington State Auditor Financial and Federal Single-Audit Management Letter relating to asset management, “We continue to recommend the District formalizes a capital asset policy that establishes procedures for maintaining, tracking and recording capital assets, including performing an annual inventory of these items.”

 

POL 130.003 – Capital & Small and Attractive Assets (Exhibit A) is a substantial overhaul of POL 130.003 - Surplus (Exhibit B). This revised policy establishes internal controls and sets a foundation for establishment of asset management procedures. Content includes:

  • Establishment of definitions
  • Citation and linkages to related governmental accounting standards
  • Establishment of depreciation and life-span standards
  • Establishment of alignment with current practices

 

Since the previous committee meeting in June 2021, updates have been made based on feedback from staff and legal counsel. These updates include:

  • Added reference to superseded POL 130.003 - Surplus Property
  • Added and clarified definitions
  • Added reference to disposition of assets purchased with federal and state grant dollars
  • Added Board of Health notification for disposition of certain assets
  • Grouped like topics
 
Board Authority

Consistent with Resolution 19-20 and the revised Division of Responsibilities (10/8/19), the Board of Health is responsible for setting District budget and policy.

 
Recommended Motion
MOVE TO approve policy POL 130.003 concerning capital & small and attractive assets. 
ATTACHMENTS:
Description
DRAFT POL 130.003 - Capital & Small and Attractive Assets (1/21/22 Draft)
POL 130.003 - Surplus Property (2018)