Financial Policies - Fixed Assets

9.01

All purchases of physical assets with a value of $500 shall be placed on the County inventory.

9.02

The County will maintain these assets at a level adequate to protect Dallas County’s capital investment and to minimize future maintenance and replacement costs by:a) Developing and maintaining a five-year plan for capital projects (i.e., all improvements and acquisitions over $500,000 with a useful life of at least five years) will authorize all capital projects by this adopted plan.

b) Providing for adequate maintenance of capital plant and equipment replacement under the above-stated amount in the annual operating budget with an adopted capital improvement fund and equipment replacement schedule.

9.03

Capital expenditures for projects and equipment are budgeted by item or project and must be spent accordingly. Any request for unbudgeted capital equipment or projects throughout the fiscal year must be submitted to the Office of Budget and Evaluation and approved by the Commissioners Court before a requisition is issued to Purchasing if such request exceeds $500.

9.04

Each Department would be allowed to make comparable capital substitutions or unauthorized capital purchases that do not exceed $500 provided they submitted their request on a Budget Adjustment Form. The Office of Budget and Evaluation and the Commissioners Court Administrator approved it. Such adjustments will be reported quarterly to the Commissioners Court.

9.05

Where possible, items in good useable condition placed in surplus will be used:

a) To supplement expenditure for new budgeted capital purchases.

b) To supplement expenditure for replacement/budgeted capital purchases.