The Capital Outlay Committee meets every other Thursday at 6:00 pm in the Town Hall.
Function
The Capital Outlay Committee is responsible for accepting requests, reviewing applications and recommending the approval of capital projects and equipment for the town of Norfolk.
Requests for capital projects and equipment are submit by the town boards, committees, and departments. The committee is comprised of seven members who are residents of Norfolk.
Annual capital items are funded each year from the omnibus capital budget. Capital equipment and projects are funded through an override or other appropriate method at a Town Meeting.
Definitions
Annual Capital Item - Any non consumable good or equipment that has a cost greater than $10,000 and a useful life greater than three (3) years. In general, any item not meeting the minimum criteria should be funded from the relevant operating budget.
Capital Equipment - Equipment having a cost greater than $40,000 and a useful life greater than ten (10) years.
Capital Project - Any improvement to real property have a cost greater than $100,000 and an expected useful life greater than twenty (20) years.
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