(A)   Warrick County shall capitalize and inventory machinery and equipment assets with an individual value equal to or greater than $5,000. Machinery and/or equipment combined with other machinery and/or equipment to form one unit with a total value greater than the above-mentioned limit shall be considered to be one unit.
   (B)   Any other reasonable and necessary costs incurred to make such machinery and/or equipment operable for its intended purposes shall be capitalized, including, without limitation, the following:
      (1)   Shipping and/or transportation charges;
      (2)   Professional fees, such as consultant and accounting fees;
      (3)   Damage payments;
      (4)   Any other cost directly associated with the purchase, delivery, or set up of the machinery and/or equipment, including payments to contractors and/or salary and benefit payments to Warrick County employees.
   (C)   Improvements or renovations to existing machinery and/or equipment shall be capitalized only if the result of such improvement(s) or renovation(s) meet all of the following conditions:
      (1)   Total cost of such improvement(s) or renovation(s) exceed $5,000;
      (2)   The useful life is extended two years or more; and
      (3)   The total cost of such improvement(s) or renovation(s) will be greater than the current book value and less than the fair market value.
   (D)   A department shall record donated machinery and equipment at fair market value on the date of transfer, with any associated costs.
   (E)   Purchases of machinery and/or equipment using federal or state funding shall follow the source funding policies and above procedures.
(BC Ord. 1997-19, passed 12-1-97; Am. BC Ord. 2021-11, passed 1-11-21)