§ 2-303. Capital purchases.

Latest version.

The city shall at all times comply with the state guidelines in regard to capital purchases as it relates to maintaining a record of tangible property. For the purposes of making an accounting classification of a capital asset, the city shall define a capital asset as an item or infrastructure asset having an original cost of at least five thousand dollars ($5,000.00) and a useful life of at least one (1) year.

(Ord. No. 92-9, §§ 1, 2, 5-14-92; Ord. No. 2002-08, § 1, 4-25-02)

                    
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