“Buildings” are structures designed to house personnel or equipment.

“Capital outlays” means expenditures resulting in the acquisition of or addition to the County’s fixed assets.

“Construction in progress” means expenditures made for construction of buildings or improvements other than buildings that are not completed at the end of a fiscal year.

“Fixed asset” means tangible assets of a permanent or durable nature employed in the operating activities of the unit and needed for the production and sale of goods or services, including but not limited to land, buildings, improvements other than buildings, machinery and equipment, furniture and fixtures. This broad asset group is separated into classes according to the physical characteristics of the items.

“Historical cost” means the cash equivalent price exchanged for goods or services at the date of acquisition. Land, building, equipment, improvements other than buildings and construction in progress are common examples of assets recognized under the historical cost attribute.

“Infrastructure” means roads, bridges, and culverts.

“Improvements other than buildings” means items other than buildings with a life expectancy of more than two years and which are attached to land and improve the value or usefulness of the land, including but not limited to sidewalks, fencing, retaining walls, fountains, planters, and underground sprinkling systems.

“Land” means an area of ground with specific boundaries not including buildings, fixed assets, infrastructure, and improvements.

“Machinery and equipment” means an apparatus, tool, or combination of parts forming a tool which stands alone and is not a part of a building.

“Tangible assets” means anything which can be touched. [Ord. 12-1-14C § 1.]