ID S1244

Amends Idaho Code Section 67-3508 to revise the definition of capital outlay expenditures to reference the state controller's fiscal policy for inventoriable capital assets.

Removes the specific requirement that automobiles, machinery, equipment, and furniture must have a useful life substantially more than two (2) years and replaces it with a reference to meeting the state controller's fiscal policy standards.

Retains four standard expenditure classifications: personnel costs, operating expenditures, capital outlay, and trustee and benefit payments.

Maintains the state controller's authority to implement subclassifications necessary for state budget preparation with input from the division of financial management and legislative services office.