(A) Capital assets have estimated useful lives extending beyond a single reporting period (one year) and are depreciated using the straight-line method with no allowance for salvage value. The estimated useful lives currently used were developed with the input of knowledgeable staff and reflect our government's experience with these assets:
Land | non-depreciable |
Improvements to land | 20 years |
Storm sirens | 10 years |
Buildings | 50 years |
Furnishings and equipment | 5 years |
Vehicles | |
Autos | 5 years |
Light trucks | 10 years |
Heavy trucks | 15 years |
Boats | 5 years |
General infrastructure | |
Streets | 50 years |
Streetlights | 20 years |
Lock and dam | 50 years |
Water distribution | 50 years |
Sanitary sewer waste collection | 50 years |
Storm drainage | 50 years |
Waste treatment plant | 25 years |
Computer software | 5 years |
(B) Any future changes to estimated useful lives will be applied prospectively.
(Ord. 2020-19, passed 11-10-2020)