The following table summarizes the depreciation schedule.
Asset Class | Description | Threshold | Useful Life (years) |
Asset Class | Description | Threshold | Useful Life (years) |
Building improvement | Buildings | $25,000 | 40 |
Infrastructure | Roads, drainage, resurfacing | $50,000 | 3—40 |
Land | Land | N/A capitalize all | N/A |
Land improvement | Sidewalks, fences, landscape shrubbery | $25,000 | 20 |
Office furniture, equipment | Desk, chair, file cabinets, telephone printers | $5,000 | 3—10 |
Police equipment | Radars, lidars, mobile equipment | $5,000 | 3—10 |
Vehicles | Car, truck, tractor, trailer, lawn mowers | $15,000 | 5 |
(Ord. 21-02, passed 1-5-2021)