Page 203 - Azle City Budget 2019
P. 203

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
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