Council Approves Fixed Asset Management Policy

The Mayor and Councillors of the City of Georgetown approved the Fixed Asset Management Policy at its statutory meeting.

This policy which is the first of its kind seeks to codify the management of all assets of the Council including the maintenance of its register which must reflect acquisitions and deletions. 

These assets were highlighted in the Burrows report (2008) needed for a fixed asset register given the large number of items owned by the Council which are spread over the geographic area that comes under the supervision and responsibility of the Council. 

The policy identifies the City Treasurer and the role of marking items of the Council as well as procedures for updating the register.  

His Worship Pt Ubraj Narine noted that the current Council inherited a number of matters which were not adequately addressed in the past but continues in its efforts to provide accountability to citizens despite limited resources. He expressed satisfaction with the policy.