§ 3.13.020. Definitions.

Term definitions as utilized by CVWD:

I.

CAPITAL ASSET: Non-financial assets that are used in operations and have an initial useful life in excess of one year.

II.

CAPITALIZATION THRESHOLD: The minimum cost which an asset must exceed in order to be capitalized.

III.

CIP: (Capital Improvement Project) CVWD defines CIP as any expenditure that relates to the purchase of a Capital Asset.

IV.

DEPRECIATION: The process of allocating the cost of an asset over a period of time.

V.

DEPRECIATION METHOD: CVWD utilizes the straight-line method with the half-year convention.

VI.

INTANGIBLE ASSETS: An asset that is not physical in nature. CVWD's most important intangible asset is water rights.

VII.

TANGIBLE ASSETS: An asset that has a physical form.

VIII.

USEFUL LIFE: The amount of time that an asset is expected to provide benefit to the District.

( Policy No. 8.7, § 2, 11-12-2013 ; Res. No. 2016-2-4, (Policy No. 8.7, § 2), 2-23-2016 )