(A) CAPITAL ASSETS include land, infrastructure, buildings, improvements other than buildings, machinery, equipment, and vehicles, construction in progress, and other capital assets. All capital assets will have useful lives of more than one year and a unit cost of $10,000 or more. All land will be capitalized but not depreciated.
(B) Items costing less than $10,000 which are permanently installed as a part of the cost of original construction or installation of a larger building or unit of equipment will be included in the cost of the larger unit.
(C) Purchases made with grant funds must comply with grant requirements if the grant requirements are more restrictive.
(D) The following table contains the capitalization thresholds for capital assets:
Capital Asset Major Category | Capitalization Thresholds |
Capital Asset Major Category | Capitalization Thresholds |
Land | All |
Buildings | $100,000 |
Improvements Other Than Buildings | $50,000 |
Machinery, Equipment, & Vehicles | $10,000 |
Infrastructure | $50,000 |
Construction in Progress | All |
Other Capital Assets | $10,000 |
(Ord. 54-2022, passed 12-19-2022)