Capitalization thresholds and the expected useful life of capital assets are hereby established as presented on the table set out below. These thresholds may be lowered when necessary to comply with grant or other regulatory requirements of the state or federal government.
Capital Assets and Useful Life Thresholds | ||
Asset Category | Capitalization Threshold | Expected Useful Life |
Capital Assets and Useful Life Thresholds | ||
Asset Category | Capitalization Threshold | Expected Useful Life |
Land | 1,000.00 | N/A |
Buildings | 30,000.00 | 40 years |
Building improvements | 5,000.00 | 40 years |
Streets, Curb/Gutter | 50,000.00 | 20 years |
Bridges | 50,000.00 | 50 years |
Water system and improvements | 50,000.00 | 30 years |
Sewer system and improvements | 50,000.00 | 30 years |
Gas system and improvements | 10,000.00 | 30 years |
All other infrastructure | 50,000.00 | 20 years |
Improvements other than buildings | 5,000.00 | 20 years |
Machinery and equipment | 1,500.00 | 7 years |
Vehicles | 1,500.00 | 5 years |
Office equipment | 500.00 | 5 years |
Software | 500.00 | 3 years |
(Ord. 2005-09-01. Passed 9-14-05.)