What is capital outlay?
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; cost generally exceeds at least $5,000; does not constitute repair or maintenance; and, is not readily susceptible to loss.
Related Questions
- What are the necessary procedures to follow for universities to receive funds for fixed capital outlay project appropriations that were approved by the Legislature?
- Can charter school capital outlay funds be used to purchase furniture, fixtures, and equipment for a new school?
- When is the Charter School Capital Outlay Plan due?
