charged to expense. It shall also be the policy to capitalize all costs in this category, which are incurred in conjunction with a major building project even if the amount is less than stated in the succeeding sections of this policy for various classifications of improvements.
The following classifications of improvements will be capitalized:
A.Landscaping Improvements – The following is a listing of land improvement examples:
Parking lots, yard lighting, fencing, paths, septic systems, fountains, fencing and gates, bleachers, parking barriers, swimming pools, tennis courts, retaining walls, athletic fields and golf courses. These examples are to be used as a guide in identifying land improvements and are not intended to be all-inclusive. Land improvement projects with a cost under $100,000 should be charged to expense. Current year additions to land improvements will be capitalized for 20 years, after which the costs will be removed from the accounts.
B. Infrastructure – The following is a listing of infrastructure examples:
Streets/roads/highways, alleys, sidewalks, curbs, culverts, traffic lights/signals, street signage, street lighting, bridges, guard rails, trestles, sanitary sewer collection piping, storm sewer collection piping, water distribution piping, drainage ditches/systems, irrigation systems, tunnels, dams, sea walls/bulkheads/piers/boardwalks/docks, fire hydrants, gas distribution systems, electric distribution systems, and fiber optic cabling systems. These examples are to be used as a guide in identifying infrastructure and are not intended to be all-inclusive.