Assets purchased, constructed or received through capital lease or donation must be uniformly grouped into capital asset types. The following table summarizes the capitalization thresholds for the city’s capital asset types. Amounts are capitalized when the cost or value equals or exceeds the applicable threshold amount. Projects will remain open for 12 months after construction is complete to capture any late occurring costs. The threshold is applied to individual items, rather than to the group as a whole (e.g., fire hydrants and the like).
(Ord. 22-44, passed 10-24-2022)