These explanations apply to terms as used in this policy procedure: Agreements for the purpose of this policy, transactions involving purchase orders, tenders, contracts, to provide goods, services and works, etc. For a short list, see Appendices C. Capital Assets are assets of significant value which have a useful life of several years, also referred to as fixed assets. Capital expenditure: Payment of money to acquire capital assets, such as a building or equipment. Capital Budgets are major capital improvements, which are beyond the routine operation and are budgeted under separate capital funds. This includes items such as building expansion and reconstruction, computers and.
