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.
(Ord. 21-0055, passed 8-11-2021; Ord. 22-0027, passed 5-11-2022)