A. CAPITAL OUTLAY BUYING is defined as machinery, equipment, and vehicles with a usual life exceeding one year, costing $5,000 or more. Also included are land, building and improvements other than buildings costing $5,000 or more?
B. Generally, capital outlay purchases must be proposed and approved as part of the annual budget process. However, occasionally it is necessary to make non-budgeted capital outlay purchases when unusual circumstances exist.
C. Non-budgeted capital outlay purchase requisitions are subject to City Manager review and approval to determine the availability of funds. The Finance Department may review any capital outlay purchases. If the City Manager determines that funds are available, the request will be approved.
(Res. 2008-011, passed 2-19-2008)