44.1 Overview
The Council needs to regularly review its assets and liabilities and write-off irrecoverable and obsolete items. This ensures up to date information is available for management decision making. It also prevents the possibility of liabilities building up that may then cause financial problems at a later stage.
44.2 Responsibility/Accountability
44.2.1 Section 151 Officer (click here for all responsibilities for the Section 151 Officer)
Counter sign all write-offs covered by Part IV.
44.2.2 Business Unit Heads (click here for all responsibilities for Business Unit Heads)
Identification of Officers authorised to make write-offs.
Obtain the Section 151 Officers counter signature to all write-offs covered by Part IV.
Ensure there are proper accounting entries for write-offs.
44.3 Policy (click here for detailed procedures)
Write-offs should only take place as a last resort after all other economic/social solutions have been exhausted.
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