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CAPITAL OUTLAY POLICY

 

We, the Village of Nashville, propose that the capital outlay monetary threshold shall be $1,000.00 for equipment purchased and $1,000.00 for improvements.  Any item purchased below this dollar amount shall be recorded (coded) to either supplies or repairs and maintenance accounts.  All items purchased that are equal to or greater than this amount shall be recorded in the CAPITAL OUTLAY accounts (for the specific activity for which the purchased item is used) and added to the General Fixed Assets Account Group (historical listing of all assets owned).

 

DATE ADOPTED: DECEMBER 12, 2002.