Tribal Law - Lac Courte Oreilles Band of Lake Superior Ojibwe, Wisconsin; National Indian Law Library, Native American Rights Fund

Lac Courte Oreilles Band of Lake Superior Chippewa Indians of Wisconsin - Tribal Law

Disclaimer: Although every effort is made to present current and accurate information, if you need an official version of the tribe’s laws, please contact the tribe.

To contact the Lac Courte Oreilles Band of Lake Superior Chippewa Indians of Wisconsin, visit the tribal court's website.

Lac Courte Oreilles Tribal Code of Law.

PAP.2.13.080 Valuation of Property Inventory

(a) Responsibility. The Chief Procurement Officer is responsible for the entire inventory system, including taking the initial inventory. All valuations of property shall be done by the accounting office in accordance with the Tribe's accounting policies and procedures.

(1) Enforcement. Department Directors are responsible for completing the physical inventory on a bi-annual basis, or as otherwise requested by the Chief Procurement Officer. Any Department Director that fails to comply with the provisions of this section shall be subject to disciplinary action pursuant to Section PAP.1.12.030.

(b) Valuation of Equipment on Hand at Initial Inventory. The original purchase price shall be used in establishing property values during the initial inventory whenever possible. Information on original price will be obtained from purchase orders or invoices on file. When original costs are not available, the current fair market value will be used in determining the value of the property item. This will be obtained from current catalogs or best estimated value.