[HISTORY: Adopted by the Town Board of the Town of Massena 8-19-1998. Amendments noted where applicable.]
The purpose of this fixed asset policy is to establish guidelines that are to be followed in recording the purchase price of assets on the Town's records as to whether they are to be capitalized or expensed.
The objective of this policy is to expense certain small dollar amounts paid for fixed asset purchases up to $5,000.
All fixed asset purchases are to be treated as complete units. If a purchase is less than $5,000 it will be expensed.
This policy will be reviewed for update not less than annually.