Page 399 - City of Westlake FY20 Budget

Section 11 Municipal Policies
Municipal Fiscal & Budgetary Policies

• The expected useful life of the asset must be longer than one year, or extend the life on an
identifiable existing asset by more than one year
• The original cost of the asset must be at least $5,000
• The asset must be tangible
• On-going repairs and general maintenance are not capitalized
• New Purchases – All costs associated with bringing the asset into working order will be
capitalized as part of the asset cost. This includes start- up costs, engineering or consultant
type fees as part of the asset cost once the decision or commitment to purchase the asset is
made. The cost of land acquired should include all related costs associated with its purchase
• Improvements and Replacement – Improvement will be capitalized when they extend the
original life of an asset or when they make the asset more valuable than it was originally. The
replacement of assets components will normally be expenses unless they are a significant
nature and meet all the capitalization criteria.

E. Computer System/Data Security – The Town shall provide security of its computer/network
system and data files through physical and logical security systems that will include, but are not
limited to: network user authentications, firewalls, content filtering, spam/virus protection, and
redundant data backup.

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