(A) Warrick County shall capitalize and inventory furniture and fixture assets with an individual value equal to or greater than $5,000. Furniture and/or fixtures combined with other furniture and/or fixtures to form one unit with a total value greater than the above-described limit shall be considered to be one unit.
(B) Any other reasonable and necessary costs associated with the purchase, delivery, and/or set up of the furniture and/or fixtures shall be capitalized.
(C) Improvements, repairs, or renovations to existing furniture and/or fixtures shall be capitalized only if the result of such improvement(s), repair(s), or renovation(s) meet all of the following conditions:
(1) Total cost of such improvement(s), repair(s), or renovation(s) exceed $5,000;
(2) The useful life of the furniture or fixture is extended two years or more; and
(3) The total cost of such improvement(s), repair(s), or renovation(s) will be greater than the current book value and less than the fair market value.
(D) An office or department shall record donated furniture and/or fixtures at fair market value on the date of transfer, with any associated costs.
(E) Purchases of furniture and/or fixtures using federal or state funding shall follow the source funding policies and above procedures.
(BC Ord. 2021-12, passed 1-25-21; Am. BC Ord. 2022-08, passed 2-14-22)