What does a capital inventory include?

A capital inventory is a comprehensive record that includes a listing of current assets and future needs that a municipality may have. This typically encompasses physical infrastructure, such as buildings, roads, and machinery, along with details about their condition, useful life, and any anticipated capital requirements for future projects or replacements.

Having this inventory allows municipal finance officers to make informed decisions regarding budgeting, capital planning, and resource allocation. It ensures that the municipality is prepared for ongoing maintenance and can identify areas needing upgrades or expansions to meet community demands. By understanding both current assets and future needs, municipalities can effectively strategize for sustainable growth and responsible financial management.

The other options do not align with what constitutes a capital inventory; they focus on debts, expenditures, or audit schedules, which are separate elements crucial to municipal finance but not directly related to capital inventory management.