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Docusign Envelope ID: E920A380-37C9-8BF7-82F3-83B67B632194
A RESOLUTION OF THE NEWPORT NEWS REDEVELOPMENT & HOUSING
AUTHORITY EVIDENCING THE AUTHORITY’S INTENT TO ESTABLISH AND
IMPLEMENT A DISPOSITION OF ASSETS POLICY
WHEREAS, the Newport News Redevelopment and Housing Authority ("Authority") is
committed to maintaining effective internal controls and ensuring the responsible
stewardship of Authority assets; and
WHEREAS, the Authority recognizes the need to establish formal policies and
procedures governing the disposition of surplus, obsolete, damaged, and no longer
useful personal property in accordance with applicable federal, state, and local laws and
regulations; and
WHEREAS, the proposed Disposition of Assets Policy establishes uniform procedures
for identifying, valuing, approving, selling, trading, donating, or otherwise disposing of
Authority-owned personal property while promoting accountability, transparency, sound
financial management, and proper recordkeeping; and
WHEREAS, the policy provides safeguards to ensure that assets are disposed of in a
manner that protects the Authority's interests, maximizes value when appropriate,
prevents conflicts of interest, and maintains accurate inventory and fixed asset records;
and
NOW, THEREFORE, BE IT RESOLVED by the Board of Commissioners of the Newport
News Redevelopment and Housing Authority that the Authority hereby evidences its
intent to establish and implement a Disposition of Assets Policy; The Executive
Director, or the Executive Director's designee, is authorized to administer and enforce
the policy and to establish administrative procedures necessary for its implementation,
provided such procedures are consistent with the policy and applicable laws and
regulations; All Authority employees involved in asset management, procurement,
finance, inventory control, and property management shall comply with the provisions of
the Disposition of Assets Policy; and that this resolution shall take effect immediately
upon its adoption.Jump to an indexed page (141 of 141)