125.04 POLICIES FOR CAPITALIZATION THRESHOLDS FOR CAPITAL ASSETS, A THRESHOLD FOR PURCHASE ORDERS, AND A LIMIT ON BLANKET PURCHASE ORDERS.

   (a)   The City hereby adopts a policy establishing a minimum capitalization threshold of five thousand dollars ($5,000) for its capital assets.

   (b)   The City hereby adopts a policy establishing a minimum purchase order threshold amount of one thousand dollars ($1,000). Any purchase for less than one thousand dollars ($1,000) must be approved by the department supervisor.

   (c)   The City hereby adopts a policy limiting a blanket purchase order to the maximum amount of fifty thousand dollars ($50,000).

(Res. 62-12. Passed 6-20-11.)