(A) The Town of Atlanta, Indiana, adopts the Capital Asset Policy attached to Res. 07-01- 08, passed 7-22-08. A copy of this policy is available in the office of the Clerk/Treasurer for public inspection during normal business hours.
(B) The threshold for reporting of capital assets shall be a purchase cost of $5,000 for the town. An asset with a purchase cost under $5,000 will be reported as a current expense during the purchase year.
(C) The utilities of the Town of Atlanta, Indiana, shall consider any asset with a purchase cost in excess of $5,000 to be a capital asset. An asset with a purchase cost under $5,000 will be reported as a current expense during the year of purchase.
(Res. 07-01-08, passed 7-22-2008)