(A) The town is not required to capitalize streets, curbs, and sidewalks retroactively prior to fiscal year 2004 but will capitalize streets, sidewalks and curbs acquired during and following fiscal year 2004. All water lines and sewer lines will be capitalized. The known or estimated historical costs of infrastructures will be included. Depreciated value estimates for water and sewer utility infrastructures will be reported.
(B) Infrastructures that are accepted from subdivision developers or acquired from other donations shall be included at the know or estimated cost at the time of receipt of the infrastructure.
(Ord. 08-002, passed 4-21-08)