§ 35.30 PURPOSE; CLASSIFICATION OF ASSETS.
   (A)   Purpose. The purpose of this policy is to facilitate the preparation of financial statements in conformity with generally accepted accounting principles.
   (B)   Classification of assets. Capital assets are personal and real property used in the operations of the government that have an expected estimated useful life beyond a single period. Capital assets are to include any item that falls into one of the following categories:
      (1)   Land.
      (2)   Land improvements.
      (3)   Buildings.
      (4)   Machinery and equipment.
      (5)   Vehicles.
      (6)   Computer software.
      (7)   General infrastructure.
      (8)   Construction in progress.
(Ord. 10-2023, passed 12-19-23)