K. CAPITAL ASSETS:

City Commission · 2026-05-13 · agenda_item

This item concerns the City of Winter Park's accounting practices for capital assets, including property, plant, and equipment. It details how the city values and depreciates assets like buildings, streets, vehicles, and utility lines over their estimated useful lives. The city also accounts for system acquisitions, such as the 1981 purchase of General Waterworks Corporation's operating assets and payments for electric distribution systems. This information is part of the city's financial notes for the period ending September 30, 2025, and is under review as part of the city's financial reporting process. While no specific construction project is detailed, the ongoing management and depreciation of these capital assets imply a continuous need for maintenance, repair, and potential replacement services. Contractors and suppliers involved in construction, utilities, and equipment maintenance may find opportunities as the city manages its infrastructure. Early engagement with city departments responsible for asset management could provide insight into future needs.

capital asset threshold

5,000 $

useful life minimum for buildings

7 years

useful life maximum for buildings

50 years

useful life minimum for streets and drainage

10 years

useful life maximum for streets and drainage

50 years

useful life minimum for improvements other than buildings

10 years

useful life maximum for improvements other than buildings

50 years

useful life minimum for machinery and furniture

2 years

useful life maximum for machinery and furniture

20 years

useful life minimum for vehicles

2 years

useful life maximum for vehicles

10 years

useful life minimum for water & sewer lines

30 years

useful life maximum for water & sewer lines

50 years

useful life minimum for electric

30 years

useful life maximum for electric

50 years

system acquisition year

1981

amortization period for General Waterworks acquisition

40 years

useful life minimum for capacity rights and sewer contract costs

13 years

useful life maximum for capacity rights and sewer contract costs

30 years