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Council adopts first formal capital assets policy to standardize accounting and depreciation
2556058 · March 11, 2025
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Summary
The council adopted a new capital assets policy that establishes capitalization thresholds, useful-life schedules and accounting practices for the city's capital inventory; staff said Sedona holds over $220 million in depreciable capital assets and the policy codifies existing practice.
City staff presented and the council adopted the City of Sedona’s first formal capital assets policy to standardize how the city accounts for, manages and depreciates capital assets.
The policy clarifies capitalization thresholds (for example, setting…
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