(A) Like other costs, capital asset costs are expensed in all funds, in lieu of an already established and effective report, the department that owns or has rights to the asset should be used with the expenditure codes below. (The fund numbers are not currently reported on the current capital assets report.) Instead, a 12-digit code should be used for internal capital asset reporting.
(B) The first three digits are 472 (capital outlays), the second three digits will indicate the department; the third set corresponds to one of the following codes, and the last three digits indicate an inventory number (001-999):
Type | Last Three Digits |
Land | 001 |
Buildings | 002 |
Improvements | 003 |
Infrastructure | 004 |
Equipment | 005 |
(C) For example:
(1) A parcel of land, assuming-it is the first parcel, in Grand Park (outdoor) would be coded: 472-015-001-001. If a concession stand happens to be in a parcel, it is coded: 472-015-002-001.
(2) Land purchased by Public Works for a city park (Grand Junction) would be coded as 472-013-004-001. In this case, Grand Junction is part of the city’s infrastructure and is one of many parcels.
(D) If capital assets are sold, proceeds from the sale will be recorded in the appropriate revenue account. This should be reported immediately to the Clerk-Treasurer’s office. The correct fund is the department with ownership of the asset.
(Ord. 22-44, passed 10-24-2022)