Laserfiche WebLink
<br />/u <br /> <br />City of CenterviCte <br />CapitaC and (jeneraC 'Exyenditure PoCicy <br /> <br />POLICY <br /> <br />It is the policy of the city of Centerville to nlaintain appropriate procedures regardillg the <br />procurenlent, 11lanagelTIent and disposal of capital assets, and to establish and lTIonitor <br />fiscally responsible spending practices. <br /> <br />PURPOSE <br /> <br />To ensure proper accountability alld stewardship of the resources available for capital and <br />general expenditures, while lllaintaining a safe and healthy working environlnent for all <br />enlployees and delivering high level services to the residents of the city of Centerville. <br /> <br />DEFINITIONS <br /> <br />1. (~ a pit ill Asset: <br /> <br />EquiplTIent, property, buildings, vehicles, infl'astructurc, and <br />inlprovenlents that have a yaluc equal to or greater than the capitali/Jtlon <br />threshold f()r the particular class] ticatiol1 of the asset and have an average <br />useful life of three years or longer or, when added to the original asset, <br />extend the useful life of the asset, and nleet the following criteria: <br /> <br />Equipnlent <br /> <br />· The ite111 retains its original shape and appearance with use; <br />· It is non-expendable (not a supply); <br />· It represents an investnlent; <br />· It does not lose its identity by incorporating it through a <br />different or 1110re c0111plex itenl; <br />· Includes fUll1iture but excludes built-in equipnlent which is <br />considered part of the bui lding; <br />· The itenl is not a repair part. <br /> <br />Propeliy <br /> <br />· Initial acquisition of real estate; <br />· Inlprovenlents such as trees, shrubs, wells, septic systenls, <br />walkways, driveways, fences and otller 11lall-made <br />inlprovements. An inlprOVelTIent must increase the value of the <br />property. <br />