For projects other than those funded from self-generated cash, federal funds, or dedicated revenues, the only anticipated source of funding available is the sale of general obligation bonds. It is therefore necessary to limit capital outlay projects that do not have a cash source of funding to those that have an anticipated useful life of twenty years or more and a value or cost of at least $50,000.
Examples of projects that qualify for inclusion in the capital outlay budget are:
•site development and improvement;
•acquisition or construction of buildings or other structures;
•additions or expansion to existing facilities;
•major repair or renovation of existing facilities;
•installation, extension, or replacement of utility systems or major building system components;
•roof replacement; hazardous materials abatement;
•fixed equipment that is connected to building utility systems;
•and initial equipment and furnishings for new buildings.