{"data":{"id":"us-ar/ark.-code-ann.-14-237-108","jurisdiction":"us-ar","citation":"Ark. Code Ann. § 14-237-108","heading":"Fixed asset records","body":"(a) (1) Each water and sewer department's governing body shall adopt a policy defining fixed assets. (2) At a minimum, the policy shall set forth the dollar amount and useful life necessary to qualify as a fixed asset. (b) (1) Each department shall establish by major category and maintain, as a minimum, a listing of all fixed assets owned by the department. (2) The listing shall be totaled by category with a total for all categories. (3) The categories of fixed assets shall include the major types, such as: (A) Land; (B) Buildings; (C) Motor vehicles; (D) Equipment; and (E) Other. (c) For each fixed asset, the listing shall contain, as a minimum: (1) Property item number if used by the department; (2) Brief description; (3) Serial number, if available; (4) Date of acquisition; and (5) Cost of property. Acts 1973, No. 148, § 7; A.S.A. 1947, § 19-5207; Acts 2011, No. 620, § 6.\n\n(a) (1) Each water and sewer department's governing body shall adopt a policy defining fixed assets. (2) At a minimum, the policy shall set forth the dollar amount and useful life necessary to qualify as a fixed asset.\n\n(1) Each water and sewer department's governing body shall adopt a policy defining fixed assets.\n\n(2) At a minimum, the policy shall set forth the dollar amount and useful life necessary to qualify as a fixed asset.\n\n(b) (1) Each department shall establish by major category and maintain, as a minimum, a listing of all fixed assets owned by the department. (2) The listing shall be totaled by category with a total for all categories. (3) The categories of fixed assets shall include the major types, such as: (A) Land; (B) Buildings; (C) Motor vehicles; (D) Equipment; and (E) Other.\n\n(1) Each department shall establish by major category and maintain, as a minimum, a listing of all fixed assets owned by the department.\n\n(2) The listing shall be totaled by category with a total for all categories.\n\n(3) The categories of fixed assets shall include the major types, such as: (A) Land; (B) Buildings; (C) Motor vehicles; (D) Equipment; and (E) Other.\n\n(A) Land;\n\n(B) Buildings;\n\n(C) Motor vehicles;\n\n(D) Equipment; and\n\n(E) Other.\n\n(c) For each fixed asset, the listing shall contain, as a minimum: (1) Property item number if used by the department; (2) Brief description; (3) Serial number, if available; (4) Date of acquisition; and (5) Cost of property.\n\n(1) Property item number if used by the department;\n\n(2) Brief description;\n\n(3) Serial number, if available;\n\n(4) Date of acquisition; and\n\n(5) Cost of property.","path":["AR Code","Title 14","Chapter 237"],"source_url":"https://oss-data-us.vaquill.ai/v2026.08/us_ar_statutes.parquet","current_through":"2026-08-14","vintage":"open-us-law v2026.08, retrieved 2026-09-14","retrieved_at":"2026-09-14T18:32:41Z","sha256":"62cb958792306d24fb311610483d7c2fcf847dc034c42e522ce93e05deed0cca","source_id":"us-ar","stale":false,"prev":"us-ar/ark.-code-ann.-14-237-107","next":"us-ar/ark.-code-ann.-14-237-109"},"notice":"GroundRules: Original legal text. Not legal advice."}