1. POLICY

   • 1.1. The Corporation of the City of Windsor will employ necessary and appropriate controls for the recording and reporting requirements of Tangible Capital Assets (TCAs) compliant with generally accepted accounting principles as outlined in the Public Sector Accounting Board (PSAB) PS-3150 standard (compliance required by legislation).

2. PURPOSE

   • 2.1. This policy will facilitate PSAB PS-3150 compliance in establishing criteria for:
     
     
     • 2.1.1. The accounting functions of acquisitions (including donations), disposals, betterments, write- downs and transfers of TCAs.
       
       
     • 2.1.2. The valuation, recording and reporting of TCAs.
       
       
     • 2.1.3. The monitoring of compliance to PSAB PS-3150 and other related corporate policies and procedures.

3. DEFINITIONS

   • 3.1. See attached Schedule “A”

4. SCOPE

   • 4.1. This policy applies to all City of Windsor departments, Agencies, Boards and Commissions (ABCs) funded by the City of Windsor, in whole or part, or whose governing body contains City of Windsor representation AND whose financial transactions are accounted for within the City of Windsor’s financial systems.
     
     
   • 4.2. Exclusion:
     
     
     • 4.2.1. ABC’s that produce their own audited financial statements.

5. RESPONSIBILITY

   • 5.1. The Mayor and Council are responsible to:
     
     
     • 5.1.1. Ensure, through administration, that policies and procedures are in place to provide for the recording and reporting of all City of Windsor TCAs.
       
       
   • 5.2. The Corporate Leadership Team Members or designate are responsible to:
     
     
     • 5.2.1. Ensure that their respective Executive Directors, and/or direct reports, comply with this policy and all related TCA procedures that facilitate the recording and reporting of TCAs.