576 PARKS 



Be able to substantiate the title claim to every piece of park property 

 owned. 



2. Inventory of structures. An inventory of all insurable structures, par- 

 ticularly buildings, should be available at all times. This inventory is based 

 upon the present replacement cost of the building, less its depreciation over 

 the life of the structure to date. This method of keeping the inventory is 

 probably the most widely accepted of the many varied methods and usually 

 will satisfy and be acceptable to the insurance companies of most states. 

 However, since this inventory is kept almost for the sole purpose of being 

 properly protected by insurance, it is well to consult local underwriters as 

 to the proper methods of its make-up. In some cases where the system is 

 large enough and where the insurance companies are so equipped, they may 

 be willing to keep up such valuations for their clients, but even under these 

 circumstances it is well for the park department to obtain at least periodi- 

 cally its own independent valuations. 



j. Inventory of tools, equipment, merchandise and supplies. This inven- 

 tory is the one most common, and the one with which, unfortunately, 

 almost everyone is more or less familiar unfortunate because the popular 

 knowledge of this kind of inventory has caused indistinct classifications of 

 articles resulting in aggravating misunderstandings. As a result, a great 

 deal has been written to clarify the situation. The following description of 

 classifications is taken from the orders of the public examiner's department 

 of a state which requires all municipalities and departments thereof to 

 make annual inventories and is a fair example of the general trend of thought 

 on inventory classifications: 



Equipment. Appliances, furniture, implements, vehi- transaction of business, sustaining of life, production of 



cles and things adapted to continuing use acquired to heat, energy and power, capable of being used only 



facilitate the transaction of business of aid in the accom- once, the portion used being of no further value for the 



plishment of purposes and add to the comfort of persons, purpose originally intended, such as stationery, provi- 



including live stock used for hauling, transportation, sions, fuel, clothing, cleaning and disinfecting supplies, 



dragging, etc., and animals for the furnishing and pro- household supplies, office supplies, postage, library and 



duction of foods or products capable of being used in educational supplies, forage supplies, blank books and 



the manufacture of commodities; and including every forms. 



thing attached to the building by its own weight or by Material. All things other than supplies, equipment 



cleats to give it stability and can be easily removed with- or structures, which are suitable by nature or treatment 



out in any way interfering with the efficiency of the as part of supplies, equipment or structures, or articles 



building or defacing it, such as tools, implements, ma- which are a part of a completed thing but which stand- 



chinery, vehicles, harness, horses, cattle, pigs, poultry, ing alone are not adapted to continuing use, such as 



tables, chairs, beds and bedding, crockery and glassware, brick, lumber, stone, cement and building material, 



cutlery, kitchen utensils, books (other than record), fibre, metal and other supplies, for manufacturing, 



apparatus and instruments, furniture and furnishings, Merchandise. Commodities, articles and things kept 



files and cabinets, safes not attached to walls, movable in stock and disposed of for cash or its equivalent, such 



stoves and radiators, pictures and other removable as stationery, books, office supplies, confectionery and 



decorative objects, writing, talking and computing foods, twine, machinery, vehicles, implements and 



machines. clothing. 



Supplies. Commodities and things needed for the 



