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The Borough does maintain a Capitalization and Depreciation policy, which is published in the "Policies and Processes" section of the 2015 Budget beginning on page B-12, should you be interested in more detailed information. The policy offers guidance to management in complying with financial reporting requirements and for planning for the logical replacement of capital assets.
In general, three factors are used to determine the method and timing of replacement: cost, useful life and salvage value. There are, however, some assets (e.g. computers) that have a negligible salvage value at their useful life, so useful life is the only deciding factor for replacement. Computers and Equipment are replaced according to their estimated useful life of 3-7 years. Vehicles, on the other hand, are replaced according to their estimated useful life of 3-12 years, provided that the vehicle under consideration also meets the Borough's minimum mileage/hours use requirement.