Resource Library - Assets
Recording, reporting and safeguarding your assets, from small items like computers to large infrastructure like water systems and roads, can be a daunting task. SAO’s best practices, checklists and guides can help you develop your capital asset policies and procedures, design your asset tracking system, safeguard your small and attractive assets, and improve your take-home vehicle program.
Guide: Segregation of duties
Segregation of duties, or separating conflicting duty assignments, can help you protect your government’s assets. This guide can help local governments understand how to separate job duties when it’s feasible. It covers all types of financial processes from cash receipting to payroll and banking. The guide also includes additional control options for small governments or small operations within larger governments.
Keywords: Accounts Payable, Accounts Receivable, AP, AR, Assets, Cash Receipting, Receipt, Receipts, Internal Controls, Payroll, Inventory, Procurement, Purchasing, General Ledger
Last updated: September 2019
Checklist: Segregation of duties
This customizable checklist can help governments analyze their internal controls and identify risky areas in need of possible improvement. This is one of many helpful checklists our Office offers.
Keywords: Accounts Payable, Accounts Receivable, AP, AR, Assets, Cash Receipting, Receipt, Receipts, Internal Controls, Payroll, Inventory, Purchasing, Procurement, General Ledger
Last updated: May 2023
Best Practices: Capital asset identification
These best practices and other suggestions can help local governments improve their methods for identifying and tracking capital assets in a financial reporting system. These best practices are intended for governments that report using generally accepted accounting principles (GAAP).
Keywords: Assets, Internal Controls
Last updated: February 2024
Best Practices: Internal controls over small and attractive assets
Internal controls over small and attractive assets reduce the possibility of misappropriation and can help you detect it. Governments can use this guide to identify best practices for designing and implementing these internal controls.
Keywords: Internal Controls
Last updated: July 2024
Best Practices: Take-home vehicles
This guide can help local governments identify and implement best practices for take-home vehicle programs and policies.
Keywords: Assets, Internal Controls
Last updated: November 2019
Checklist: Capital assets
Local governments can use this checklist to help ensure accurate and complete capital asset reporting at year-end, or to improve policies, processes and internal controls. It’s for GAAP entities only. This is one of many helpful checklists our Office offers.
Keywords: Assets, Financial Reporting, GAAP, Generally Accepted Accounting Principles, Internal Controls
Last updated: January 2022