Agenda - Council - 11/25/2025 - Laserfiche WebLink

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Useful Life - The estimated number of years that an asset will be used for the purpose for which it was acquired. Asset TvDes Useful Life Land not depreciated Land Improvements 10-40 Land Held for Resale not depreciated Infrastructure - Street Overlay 20 Buildings 20-50 Sidewalks 20 Improvements 10-25 Furniture & Fixtures 3-10 Machinery & Equipment (Vehicles) 5-20 Mobile Equipment 5-20 Police Patrol Cars 3-4 Meters & Readers 20 Infrastructure -Water Mains & Lines 50 Infrastructure -Sewer Mains & Lines 50 Infrastructure -Storm Sewer 50 Infrastructure -Water Supply Facilities 50 Infrastructure -Water Storage Facilities 50 Street Lights 25 Infrastructure -Sanitary Sewer Lift Station 20-30 Infrastructure -Water Quality 50 Statues / Monuments not depreciated Construction in Progress not depreciated Intangible Assets Easements - Temporary 2-4 Easements — Permanent not depreciated Purchased Software 2-5 or term of agreement Capital Assets that do not fall into the above classifications for useful life purposes will be evaluated on an individual basis. Expenditures for minor repairs and ordinary maintenance which do not prolong the useful life of the property beyond that anticipated when it was purchased or constructed are not considered a fixed asset and should be charged to a maintenance and repair line item. An example of this might be the painting of the interior of a building. Even though the cost may be over $25,000 it will not prolong the life of the building past the original estimated life. Major repairs, which do prolong the life, should be capitalized. Capital Asset Types: Land - is capitalized but not depreciated. It is recorded at historical cost. Other costs such as legal fees, excavation and any other expenses incurred to put the land in condition for its intended use should be included.