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Capital Asset and Capital Project <br />Capital Asset -An item with a value exceeding $5,000 and a useful life <br />of one year or greater; includes motor vehicles, furniture, fixtures and <br />equipment. <br />Capital Project -A project with an estimated cost exceeding $100,000 or <br />more and useful life exceeding ten years or greater. Capital projects <br />include the construction, purchase, or major renovation of buildings, <br />parks, utility systems, or other structures and sites; and purchase of land <br />and major landscaping projects. <br />Source -Page 375 of the FY 21-22 Commissioner Approved Budget – <br />the preface to the CIP document. <br />DocuSign Envelope ID: F3ECCCC4-11C5-4B8B-A148-28FAABFF6334