§ 38.018 CAPITAL; EXPENSE AND IMPROVEMENT; REPAIR AND MAINTENANCE.
   There is an inherent difference between the terms CAPITAL and EXPENSE. CAPITAL is defined as an asset or improvement to an asset that is at or above the stated capitalization threshold for its particular classification.
   (A)   A CAPITAL ASSET or CAPITAL ASSET IMPROVEMENT may increase capacity, efficiency, or extend the estimated useful life.
   (B)   An EXPENSE ACTIVITY merely maintains, restores, or repairs an asset to the original service potential but does not necessarily improve the asset. See definitions and examples in §§ 38.025 and 38.026.
(Ord. 21-0055, passed 8-11-2021; Ord. 22-0027, passed 5-11-2022)