Date Capital Expenditure Incurred

Date Capital Expenditure Incurred. Unless otherwise required by law, a capital expenditure shall be deemed incurred upon the earliest of: 1. Execution of an enforceable contract for construction, acquisition, lease, or financing of a capital asset; 2. Formal action by the governing body of a health care facility committing its own funds to a project undertaken by facility personnel (force account expenditure); or 3. In the case of donated property, the date on which the gift is complete under applicable state law. The Department may consider additional facts demonstrating commitment to a project. Page 12 — Mississippi State Department of Health