Page 203 - Azle City Budget 2019

C C Ca a ap p pi i it t ta a al l l P P Pr r ro o oj j je e ec c ct t ts s s F F Fu u un n nd d ds s s

A capital expenditure is an expenditure which results in the acquisition of or addition to
fixed assets, and meets these criteria: has an anticipated useful life of more than one
year; can be permanently identified as an individual unit of property; belongs to one of
the following categories: Land, Buildings, Structures & Improvements, Equipment;
constitutes a tangible, permanent addition to the value of City assets; does not
constitute repair or maintenance; and, is not readily susceptible to loss.

The Capital Projects Fund accounts for the acquisition of and construction of major
capital facilities and equipment. These projects are financed with resources allocated to
the Capital Projects Funds and with proceeds from general obligation bonds, revenue
bonds, or certificates of obligation. The fund is accounted for on the modified accrual
basis of accounting.

The Utility Capital Projects Fund accounts for the acquisition of and construction of
major capital facilities and equipment. These projects are financed with resources
allocated to the Capital Projects Funds and with proceeds from general obligation
bonds, revenue bonds, or certificates of obligation. The fund is accounted for on the
accrual basis of accounting.

City of Azle 2018-2019 Budget 191