Singapore legislation
Regulation 98
Regulation 98
Departmental office inventories
Subregulation 1
The Town Council shall keep an inventory of furniture, equipment, etc., comprising —
an asset register for assets which are required to be capitalised; and
an asset register for assets which are not required to be capitalised.
Subregulation 2
The asset number shall be entered on the voucher which is raised for the item purchased before the voucher is forwarded to the Finance Department for payment.
Subregulation 3
All non-consumable, movable office furniture and equipment (excluding office articles of a rapidly wasting nature, such as paper basket, erasers, rulers and pencils) shall be recorded and tagged with the allotted asset number.
Subregulation 4
The inventories shall be completely checked at least annually by the departmental officers in charge, who shall certify accordingly in the records which shall at all times be kept up-to-date for inspection by the auditor.