Fixed Capital Outlay (FCO) definition
Fixed Capital Outlay (FCO) means real property, such as land or buildings, including appurtenances, fixtures, fixed equipment, and structures, includes additions, replacements, major repairs, and renovations. The Departmental Purchasing, Design and Construction Section will have the final determination as to whether a repair or renovation is a fixed capital project or an expense item, and must approve all fixed capital outlay purchase paid for by the state funds.
Examples of Fixed Capital Outlay (FCO) in a sentence
Any major repairs to the facility (major roof repairs, a/c replacement, etc.) will come under Fixed Capital Outlay (FCO) program.