All fixed assets assigned to city departments with an estimated service life of more than one year and a value established by council shall be capitalized and inventoried. Council shall review and establish by resolution the threshold for the capitalization of fixed assets. This review shall occur upon the recommendation of the finance director but in no event less than once every five years. (Ord. 2490-00 § 1, 2000; Ord. 1024-84 § 2, 1984.)