The Village of New Bremen shall keep records of capital outlays having an estimated or actual value of $2,000 or more and/or an estimated useful life of three years or more. Expenditures identified by the Village Fiscal Officer and/or Utility Superintendent as a specific Enterprise Fund capital project (e.g. rebuild of “Main Street” infrastructure) which, by the parts/expenditures by themselves may fall under this threshold, will still be treated as capital expenditures and categorized as capital outlay accordingly. Also, improvements or replacements to the utility infrastructure which may by themselves be less than the threshold, will be considered capital outlay expenditures. Otherwise, outlays falling below this threshold limit shall be expensed from the appropriate account in the year acquired. The major classes of capital outlays are laid out in Exhibit A of Ord. 2017-3-7.
(Ord. 2017-3-7, passed 5-22-17)