HomeMy WebLinkAbout2002-10-07-Resolutions 02-153_Gen Fund Fixed Assets - Min AmtTHE CITY OF WAUKEE,IOWA
RESOLUTION 02-153
APPROVING A CHANGE IN THE MINIMUM DOLLAR AMOUNT FOR
CAPITALIZATION OF EQUIPMENT AND PROVIDING FOR GENERAL FUND
FIXED ASSETS AND UTILITIES-ENTERPRISE FUND FIXED ASSETS
IN THE NAME AND BY THE AUTHORITY OF THE CITY OF WAUKEE,IOWA
WHEREAS,Resolution 95-6 passed September 11,1995 established a minimum
purchase price of $500 per item for items to he capitalized;AND,
WHEREAS,in that same resolution,the city was to determine a consistent method of
depreciation for like items as they are purchased AND,
WHEREAS,the city has determined a consistent method of depreciation and has
determined that the minimum dollar amount for capitalization of all equipment to be
recorded as a fixed asset and depreciated over the life of the equipment should change
and should be divided into General Fund Fixed Assets with a minimum dollar amount of
$2,500 aud Utilities -Enterprise Fund Fixed Assets with a minimum dollar amount of
$5,000.
NOW THEREFORE BE IT RESOL YED by the City of Waukee City Council in
session this 7'h day of October 2002 that it hereby approves changing the minimum dollar
amount for capitalization of General Fund Fixed Assets to $2,500 aud the minimum
dollar amount for capitalization of Utilities -Enterprise Fund Fixed Assets to $5,000.
Attest:
lerk
ROLL CALL VOTE
Nicholas C.Gruber
Donald L.Bailey,Jr.
Bill Peard
Mike Watts
Wayne Johnson
AYE
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NAY ABSENT