§ A302-2. Definitions.

As used in this chapter, the following terms shall have the meanings indicated:

ASSET LIFE

This is the standard estimated useful life of an item. To be considered a fixed asset, an item must have a useful life greater than one year.

ASSET VALUE

This is the value of an item. The value will be based on the invoice plus additional costs of preparing the asset for use. To be considered a fixed asset, an item must have a value of greater than $1,000.

BUILDINGS AND STRUCTURES

A building or structure is a roofed and/or walled structure that is City-owned. For example, a picnic pavilion would be considered a structure although it may have no walls.

COMPUTERS

A separate class of asset set up to specifically account for all computer equipment owned by the City. This category includes personal computers, printers, modems and any other computer-related item.

FIREARMS

A weapon from which a shot is discharged using gunpowder. This category is used to account for all firearms belonging to the Police Department.

FIXED ASSET

An item obtained by the City with a value of greater than $1,000 and an estimated useful life of greater than one year.

FORFEITED PROPERTY

Property seized by the Police Department that will be used by the City. The City policy on forfeited property should be followed.

FURNITURE AND FIXTURES

Assets that are used by people in any City facility that are considered furniture or fixtures. This category includes desks, chairs, credenzas, modular work stations, drinking fountains, etc.

INVESTING SOURCE

Fund type originally payable for general fixed asset or donation. Assets acquired before January 1, 2004, will not have a designated investing source.

LAND

Any parcel of land that is City of Fairfax owned, whether developed or undeveloped.

LAND EQUIPMENT

Grading, roads and parking lots on City-owned property that will be capitalized.

MACHINERY AND EQUIPMENT

Includes motorized and nonmotorized equipment that has a primary function of the City of Fairfax street, park or utility maintenance. It includes items such as tractors, mowers, snow blowers, etc.

OFFICE EQUIPMENT

An item used by employees to perform a mechanized task in an office environment. For example, typewriters, telephones and adding machines. However, cameras, VCR's, cellular phones, refrigerators, microwaves, etc., are also included in this category. This category does not include computer equipment as there is a separate distinct category for computer equipment.

PARK IMPROVEMENTS

Improvements made to a City park that will be capitalized. This category would include items such as playground equipment, back stops, bleachers, flagpoles, etc.

TOOLS AND OTHER EQUIPMENT

This category includes all small tools and equipment such as chain saws, battery chargers, post drives and so on. Vehicle equipment as defined below is excluded from this category.

VEHICLE EQUIPMENT

Equipment that is installed in/on a motor vehicle such as radios, wing plows, sanders, lighting packages, radar units and tool boxes.

VEHICLES

Motorized vehicles owned by the City of Fairfax such as squad cars and trucks.