§ 38.021 DEPRECIATION METHOD AND CONVENTION.
   (A)   Depreciation will be calculated as to annual, accumulated, and net book value amounts using the straight-line method and full-year convention. No salvage value or residual value will be recognized. This will allow disclosure of the annual loss of value due to use. The asset estimated useful life is the divisor in this allocation over time.
   (B)   Governments depreciate capital assets to allocate reasonably the cost of the asset over time. A capital asset only provides a benefit after it is operational and placed into service. Depreciation is only recognized upon acceptance and approval of the asset and after its use has begun.
(Ord. 21-0055, passed 8-11-2021; Ord. 22-0027, passed 5-11-2022)