Construction work shall be recorded as “construction work in progress”. Projects that have not been completed by the end of a given reporting year will be included under this item type provided that the project cost is $5,000 or greater. At the completion of the project, it will be entered under the appropriate item type of either buildings or improvements other than buildings. The date of completion of the project will be listed as the date of acquisition.
(Ord. 2018-4, passed 2-14-2018)