1 ICOFA GUIDELINES FOR CAPITAL ASSETS - CAPITALIZATION THRESHOLDS The universities financial statements report capital assets in accordance with standards established by the Governmental Accounting Standards Board (GASB). A capital asset is real or personal property with a cost equal to or greater than an established capitalization threshold and an estimated useful life extending beyond one year. The universities capital asset maximum thresholdsfor financial statement reporting are listed below. Universities may establish lower thresholds. CAPITAL ASSET CATEGORY Land and Land Improvements Intangible Assets (includes computer & ERP software and licenses) Buildings and Building Improvements All $4,000,000 CAPITALIZATION THRESHOLD FAMU: $1,000,000 No threshold for: Cost of all new building construction,; or renovation projects that add new square footage. $250,000 for Renovation projects that do not add new square footage. Formatted: Highlight FAMU: $100,000 for Renovation projects that do not add new square footage. Infrastructure and Infrastructure Improvements $250,000 Formatted: Highlight FAMU: $100,000 Leasehold Improvements $250,000 FAMU: $100,000 Property Under Capital Lease Construction Work in Progress Furniture and Equipment (includes noncirculating books and reference materials) Works of Art and Historical Treasures - Depreciable Works of Art and Historical Treasures Non- Depreciable Library Resources - Depreciable (circulated to students or the general public) Use the threshold for the appropriate asset category Accumulate all costs and capitalize when completed, based on appropriate asset category $5,000 $5,000 $5,000 $250; orall additions to the library catalog will be capitalized capitalized as additions to the catalog, irrespective of individual item costs. as a group
2 Library Resources Non-Depreciable ((Noncirculating)Special Collections) Other Capital Assets (includes Livestock& Animals) $250; or capitalized as additions to the catalogall additions to the library catalog will be capitalized,irrespective of individual item costs. as a group $5,000 Capital assets should be reported at historical cost at the date of acquisition. The cost of a capital asset should include ancillary charges necessary to place the asset into its intended location and condition for use. Ancillary charges include costs that are directly attributable to asset acquisition such as freight and transportation charges, site preparation costs, and professional fees. When the historical cost of a capital asset is not practicably determinable, the estimated historical cost of the asset should be determined by reasonable and appropriate methods, and recorded. Donated capital assets should be reported at their estimated fair value at the time of acquisition plus ancillary charges, if any. Improvements made to a capital asset that extends the useful life of the asset beyond one year and meet the guidelines above should be capitalized. Capital Assets that are not being depreciated should be disclosed separately from those that are being depreciated. Collections already capitalized at June 30, 1999, should remain capitalized and all additions to those collections should be capitalized, even if they meet the conditions for exemption from capitalization. NOTE: For collections not capitalized, disclosures should provide a description of the collection and the reasons these assets are not capitalized. A government is encouraged to capitalize a collectionwhether donated or purchased if it meets all of the following conditions. The collection is: 1) Held for public exhibition, education, or research in furtherance of public service, rather than financial gain 2) Protected, kept unencumbered, cared for, and preserved 3) Subject to an organization policy that requires the proceeds from sales of collection items to be used to acquire other items for collections.
3 Capital Asset Definitions and Categories Land and Land Improvements Land is the surface or crust of the earth, which can be used to support structures, and may be used to grow crops, grass, shrubs, and trees. Land improvements consist of betterments, site preparation, and site improvements that ready land for its intended use. The cost associated with land improvements is added to the cost of land and should be recorded in the General Ledger. Land and land improvements should not be depreciated. Intangible Assets Intangible assets lack physical substance, are nonfinancial in nature (i.e., not in a monetary form similar to cash and investment securities, and represent neither a claim or right to assets in a monetary form similar to receivables, nor a prepayment for goods or services), and have an initial useful life beyond one year. Common types of intangible assets include: Computer software - Purchased or licensed - Internally generated Easements Land use rights (e.g., water, timber, and mineral rights) Note: land use rights obtained with land acquisitions or associated with land already owned should not be reported separately from the land. Patents, copyrights, and trademarks Intangible assets with a cost equal to or greater than the threshold and a useful life extending beyond one year should be capitalized. Assets costing below the threshold should be expensed. (Note: universitiesentities with separately issued financial statements may use lower capitalization thresholds.) Internally Generated Intangible Assets Intangible assets are considered internally generated if created or produced by the university or by an entity contracted by the university or if acquired from a third party but require more than minimal effort to place into service. Computer software is commonly internally generated. The following activities would satisfy the more than minimal effort to place into service criterion: changing code, changing fields, adding special reporting capabilities, and testing any changes. Outlays incurred in the Preliminary Project Stage and the Post-Implementation/Operation Stage should be expensed as incurred. Outlays incurred in the Application Development Stage should be capitalized.
4 The Application Development Stage activities include the design of the chosen path, including software configuration and software interfaces, coding, installation of hardware, testing, including the parallel processing phase, and data conversion needed to make the software operational. All outlays related to activities in the application development stage should be capitalized, provided the following conditions are met: 1) the outlays were incurred subsequent to the completion of the preliminary project stage, and 2) management authorizes and commits to funding (either implicitly or explicitly), at least through the current period. Capitalization of such outlays should cease once the software is substantially complete and operational (i.e., ready for use). When internally generated computer software development projects span more than one year, total projected application development costs should be considered when applying the capitalization threshold, not outlays incurred in individual years. Outlays associated with an internally generated modification of computer software that is already in operation should be capitalized if the modification results in an increase in the functionality of the computer software, an increase in the efficiency of the computer software, or an extension of the estimated useful life of the software. If the modification does not result in any of the above outcomes, the modification should be considered maintenance, and the associated outlays should be expensed as incurred. Buildings and Building Improvements A building is a structure that is permanently attached to the land, has a roof, is partially or completely enclosed by walls, and is not intended to be transportable or moveable. A building is generally used to house persons, property, and fixtures attached to and forming a permanent part of such a structure. Building improvements are capital events that materially extend the useful life of a building or increase the value of a building, or both beyond one year. Building improvements should not include maintenance and repairs done in the normal course of business. Examples of items to be capitalized as buildings and building improvements are: Original purchase price Costs for remodeling, reconditioning, or altering a purchased building to make it ready to use for the purpose for which it was acquired Environmental compliance Professional fees (i.e. legal, architect, inspections, and title searches, etc.) Payment of unpaid or accrued taxes on the building to date of purchase Cancellation or buyout of existing leases Completed project costs of constructed buildings Cost of building permits
5 Permanently attached fixtures or machinery that cannot be removed without impairing the use of the building Additions to buildings (i.e. expansions, extensions, or enlargements) Conversion of attics, basements, etc. to usable office, clinic, research or classroom space Structures attached to the building such as covered patios, sun rooms, garages, enclosed stairwells, etc. Installation or upgrade of heating and cooling systems, including ceiling fans and attic vents Original installation or upgrade of wall or ceiling covering such as carpeting, tiles, paneling, or parquet Structural changes such as reinforcement of floors or walls, installation or replacement of beams, rafters, joists, steel grids, or other interior framing Installation or upgrade of window or doorframe, upgrading of windows or doors, built-in closet, and cabinets Interior renovation associated with casings, baseboards, light fixtures, ceiling trim, etc. Exterior renovation such as installation or replacement of siding, roofing, or masonry, etc. Installation or upgrade of plumbing and electrical wiring Installation or upgrade of phone or closed circuit television systems, networks, fiber optic cable, or wiring required in the installation of equipment (that will remain in the building) Examples of items to be considered maintenance and repairs and not capitalized as buildings are: Adding, removing, and/or moving of walls relating to renovation projects that are not considered major rehabilitation projects and do not increase the value of the building or add new square footage Improvement projects of minimal or no added life expectancy and/or value to the building Plumbing or electrical repairs Cleaning, pest extermination, or other periodic maintenance Asbestos abatement Exterior decoration such as detachable awnings, uncovered porches, decorative fences, etc. Maintenance-type interior renovation such as repainting, touch-up plastering, replacement of carpet, tile, or panel sections, sink and fixture refinishing, etc. Maintenance-type exterior renovation such as repainting, replacement of sections of deteriorated siding, roof, or masonry, etc. The lists of examples provided above are not intended to be all-inclusive. Universities should make determinations on a case-by-case basis. Infrastructure and Infrastructure Improvements Infrastructure assets are long-lived capital assets that normally are stationary in nature and normally can be preserved for a significantly greater number of years than most capital assets. Examples of infrastructure assets include roads, bridges, tunnels, drainage systems, water and sewer systems, dams, and street lighting systems. Infrastructure assets should be capitalized and depreciated unless the modified approach is used. To use the modified approach, the infrastructure assets have to
6 comprise a network or subsystem of a network (eligible infrastructure assets), and the following criteria are met: 1) The assets are managed using a qualifying asset management system. 2) It is documented that the assets are being preserved at or above a condition level established by the government. Improvements made to infrastructure assets that extend the useful lives or increase the value of the assets, or both, beyond one year should also be capitalized. Leasehold Improvements A leasehold improvement is an improvement made to a leased building or infrastructure asset by a university that has the right to use this leasehold improvement over the term of the lease. This improvement will revert to the lessor at the expiration of the lease. The lessor may be another state agency or someone outside the state government. The lessee generally should be responsible for recording the improvement if the lessee pays for the improvement. Leasehold improvements should not include maintenance and repairs done in the normal course of business. Further, moveable equipment or office furniture that is not attached to the leased property is not considered a leasehold improvement (See section on Buildings and Building Improvements for examples on maintenance and repairs). Property Under Capital Lease Assets should be capitalized if the lease agreement meets any one of the following criteria: 1) The lease transfers ownership of the property to the lessee by the end of the lease term. 2) The lease contains a bargain purchase option. 3) The lease term is equal to 75 percent or more of the estimated life of the leased property. 4) The present value of the minimum lease payments at the inception of the lease, excluding executory costs, equals at least 90 percent of the fair value of the leased asset. A lease that does not meet any of the above capitalization requirements should be reported separately as an operating lease. Construction Work in Progress Construction work in progress reflects the economic construction activity status of buildings and other structures, infrastructure, additions, alterations, reconstruction, and installation, which are substantially incomplete.
7 Construction work in progress assets should be capitalized to their appropriate capital asset categories upon the earlier occurrence of: 1. Certificate of Substantial Completion 2. Certificate of Occupancy or actual occupancy 3. When the asset is placed in service. It is the university s responsibility to track all costs related to construction work in progress so that the final value of the constructed asset is correctly captured. The capitalization threshold for a project should not be circumvented due to multiyear appropriations for the project. Furniture and Equipment Furniture and equipment include fixed or movable tangible assets to be used for operations, the benefits of which extend beyond one year from date of receipt and rendered into service. Example of furniture and equipment are machinery, computers, printers, radios, and vehicles, etc. Also included in furniture and equipment are books and other reference materials that are not circulated to students or the general public (not contained in a publicly supported library). Books and other reference materials that are circulated to students or the general public are considered library resources. Works of Art and Historical Treasures Depreciable Works of art and historical treasures, should be capitalizedat their historical cost at acquisition or fair value at the date of donation (if donated) whether they are held as individual items or in a collectionunless they belong to a collection. Governments are encouraged, but not required, to capitalize a collection (and all additions to that collection) whether donated or purchased that meets all of the following conditions. See below for collection criteria. The collection is: 1) Held for public exhibition, education, or research in furtherance of public service, rather than financial gain 2) Protected, kept unencumbered, cared for, and preserved 3) Subject to an organization policy that requires the proceeds from sales of collection items to be used to acquire other items for collections. Collections already capitalized at June 30, 1999, should remain capitalized and all additions to those collections should be capitalized, even if they meet the conditions for exemption from capitalization. The cost of capitalized works of art and historical treasures should be depreciated over the estimated useful lives unless the works of art and historical treasures are inexhaustible. An inexhaustible capital asset is one whose economic benefit or service potential is used up so slowly that its estimated useful life is extraordinarily long.
8 Works of Art and Historical Treasures Non-Depreciable Works of art and historical treasures should be capitalized at their historical cost at acquisition or fair value at the date of donation (if donated)whether they are held as individual items or in a collection. Governments are encouraged, but not required, to capitalize a collection (and all additions to that collection) whether donated or purchased that meets all of the following conditions. if they belong to a collection that meets the following criteria: The collection is: 1) The collection is hheld for public exhibition, education, or research in furtherance of public service, rather than financial gain. 2) The collection is pprotected, kept unencumbered, cared for, and preserved. 3) The collection is ssubject to an organization policy that requires the proceeds from sales of collection items to be used to acquire other items for collections. Capital Assets that are not being depreciated should be disclosed separately from those that are being depreciated. Formatted: Font: (Default) Times New Roman Collections already capitalized at June 30, 1999, should remain capitalized and all additions to those collections should be capitalized, even if they meet the conditions for exemption from capitalization. NOTE: For collections not capitalized, disclosures should provide a description of the collection and the reasons these assets are not capitalized. Library Resources - Depreciable Library resources are information sources that are circulated to students or the general public such as books, journals, periodicals, audio/visual media, computer-based information, manuscripts, maps, documents, and similar items which provide information essential to the learning process or which enhance the quality of academic, professional, or research libraries. Library resources should be capitalized at their historical cost at acquisition or fair value at the date of donation (if donated). All additions to the library catalog will be capitalized. Library Resources Non-Depreciable Non Depreciable Library resources also referred to as may include Special Collections* andshould be capitalized at their historical cost at acquisition or fair value at the date of donation (if donated) whether they are held as individual items or in a collection. All additions to the library catalog will be capitalized. Refer to Works of Art and Historical Treasures for the criteria for collections.if they belong to a collection that meets the following criteria: 1) The collection is held for public exhibition, education, or research in furtherance of public service, rather than financial gain. Formatted: Indent: Left: 0"
9 2) The collection is protected, kept unencumbered, cared for, and preserved. Capital Assets that are not being depreciated should be disclosed separately from those that are being depreciated. Collections already capitalized at June 30, 1999, should remain capitalized and all additions to those collections should be capitalized, even if they meet the conditions for exemption from capitalization. Formatted: Indent: First line: 0" Formatted: Font color: Auto Formatted: Font: (Default) Times New Roman Formatted: Font color: Auto Formatted: Font: (Default) Times New Roman NOTE: The Non-Depreciable Library Resources may be reported in total with Non-Depreciable Works of Art and Historical Treasures for financial reporting purposes. *Special Collections contain items that are available to be viewed in the Library, but are not circulated. Special Collections may contain historical items, original manuscripts, rare books, historical books, memoirs, etc. Other Capital Assets Other capital assets are those capital assets that are not otherwise classified in another capital asset category. This category includes animals, horses and livestock.
FIXED ASSET GUIDE For Financial Reporting Purposes CAFR Group, State Auditor s Office June 24, 2008 Objective To assist with the accounting for and reporting of the State's assets including new building
Financial Policies: Preserving Capital Investments - Fixed Assets Capitalization and Inventory Control Policy The City invests in capital assets such as property, plant, equipment, facilities and infrastructure.
P1-19-4-1503 Capital Asset Guidelines Appendix Table of Contents Introduction... 2 Capital Asset Definitions and Guidelines... 2 Capital Asset Classification... 2 Capital Asset Acquisition Cost... 3 Capitalization
Cameron County Capital Assets & Depreciation Guidance Based on GASB Statement # 34 October 9, 2002 Chapter 1. Capital Assets Definition and Guidelines 1) Capital Assets Definition. Capital assets are defined
ADMINISTRATIVE ORDER Subject: Responsible Department: Financial Fixed Assets Inventory Finance Number: 1-3 Date Issued: July 15, 1999 Date Revised: Approved: Purpose To establish a uniform policy for the
Chapter 30 Fixed Assets 30.20 Valuing, Capitalizing and Depreciating Fixed Assets 30.20.10 How to value Fixed Assets July 1, 2004 30.20.20 When to capitalize Fixed Assets July 1, 2004 30.20.22 Assets not
STATE OF MINNESOTA GUIDE TO LOCAL GOVERNMENT CAPITAL ASSETS Audit Practice Division Office of the State Auditor State of Minnesota 525 Park Street, Suite 400, St. Paul, MN 55103 email@example.com
City of Laredo, Texas Capital Asset Policy and Procedures Effective October 1, 2006 1.0 Policy Goal The goal of a capital asset inventory system and this policy is to provide control and accountability
UNIVERSITY OF MISSISSIPPI FIXED ASSET CAPITALIZATION POLICY The term capitalized fixed assets includes land, improvements to land, easements, buildings, building improvements, vehicles, machinery, furniture,
University System of Maryland Capital Asset & Depreciation Guidance Prepared by USM Office Final as of June 27, 2002 Introduction The purpose of this document is to provide guidance for the uniform recording
Bowdoin Finance Policy Manual Policy Title Effective Date Revision Date Created by Approval Signature Capitalization Policy May 30, 2008 May 19, 2011 Matt Orlando, Controller Contents 1. Purpose... 1 2.
RESOLUTION NO. 11-0908 A RESOLUTION OF THE AGATE FIRE PROTECTION DISTRICT BOARD OF DIRECTORS ADOPTING A CAPITALIZATION POLICY WHEREAS, the Governmental Accounting Standards Board issued Pronouncement #34
Date Issued 07/72 Page 1 of 12 SUBJECT Capital Asset Records PURPOSE To provide capital asset policies and procedures for both Comprehensive Annual Financial Report (CAFR) and non-cafr reporting AUTHORITATIVE
Boston College Office of the Financial Vice President Capitalization and Depreciation of Property, Plant, and Equipment University Policy Overview It is the policy of Boston College (the University) to
MARQUETTE UNIVERSITY Office of the Comptroller Capitalization, Inventory, Depreciation and Retirement of Property, Buildings, and Equipment Direct all inquiries to: Comptroller s Office 288-0833 Effective
Fixed Asset Management Policy/Procedure This policy applies to faculty and staff with responsibility for purchasing, maintaining or disposing of Fixed Assets, including Department Chairs, Department Heads,
FIXED ASSET PROCEDURES To comply with the fixed asset capitalization and inventory policy adopted by the Governing Board, and to ensure compliance with the GASB 34 (Government Accounting Board Statement
5.5 PROJECT CAPITALIZATION 1.0 Purpose To provide a capitalization policy specifically for capital projects used to account for the acquisition, construction or improvement of fixed assets. This document
FAYETTEVILLE STATE UNIVERSITY FIXED ASSETS Authority: Category: Issued by the Chancellor. Changes or exceptions to administrative policies issued by the Chancellor may only be made by the Chancellor. Business,
COLORADO STATE UNIVERSITY Financial Procedure Instructions FPI 4-1 1. Procedure Title: Property Management - Capitalization Thresholds for Capital Assets 2. Procedure Purpose and Effect: Procedures for
Department of State Treasurer Policy Manual for Local Governments Revision Issued: August 2014 Table of Contents Executive Summary... 1 Part I Introduction... 3 A Purpose and Applicability... 3 B. Functions
Regulations of the University of North Texas System Chapter 08 08.9000 Asset Capitalization Fiscal Management 08.9001 Regulation Statement. The University of North Texas System shall identify, measure,
Page 1 of 27 TABLE OF CONTENTS Page POLICY STATEMENT... 3 REASON FOR POLICY... 3 OVERVIEW... 3 WHO SHOULD READ THIS POLICY?... 3 RELATED DOCUMENTS... 4 WHEN TO CONTACT THE SYSTEM OFFICE... 5 GENERAL DEFINITIONS...
HOWARD UNIVERSITY Policy Number: 300-004 Policy Title: ASSET CAPITALIZATION Responsible Officer: Chief Financial Officer Responsible Offices: Office of the Controller, Departments of Strategic Sourcing
Capitalization and Depreciation Guidelines Guidelines Statement University of Vermont assets that are capitalized are considered fixed assets and are recorded in the Capital Assets section of the University's
Capital Assets Manual Henrico County Virginia Effective April 15, 2009 TABLE OF CONTENTS Section 1: Capital Assets Policies... 4 Overview... 4 Objectives... 4 Section 2: Property Control Responsibilities...
Page 1 of 14 Accounting Policies Section 4.0 Capital Assets 4.01 Capital Assets Defined 4.02 Land and Land Improvements 4.03 Buildings and Building Service Equipment 4.04 Leasehold Improvements 4.05 Equipment
Administrationn & Finance Policy Manual 2.5.1 Fixed Asset Procedure Effective: January 1, 2013 Purpose: This proceduree defines the capital asset capitalization practice for the City of South Bend. The
POLICY Title: FIXED ASSET ACCOUNTING Code: B0108 Authority: Board Minutes, 9/16/91; 10/28/97 Original Adoption: 9/16/91 Revised/Reviewed: 10/28/97 Effective: 10/29/97 It is the policy of the Board that
ACCOUNTING MANUAL Page 1 PLANT ACCOUNTING: Contents Page I. Introduction 2 II. Definition of Intangible Assets 2 III. General Approach 3 A. Assigning CAAN Numbers 4 B. Assigning Useful Lives 5 C. Accounting
The City of Maplewood Public Works Department Guidelines to Obtaining a Building Permit Topic Page WHAT IS A BUILDING PERMIT? 2 WHY DO I NEED A BUILDING PERMIT? WHEN DO I NEED A BUILDING PERMIT? EXAMPLES
University of Rhode Island Capitalization Effective Date: July 1, 2001 Updated: April 2013 I. General Background From fiscal 1970 to fiscal 1976, the University of Rhode Island followed the financial accounting
Government Accounting for Fixed Assets GASB guidelines for your organization 1 Table of contents Government Accounting for Fixed Assets 3 GASB Statement No. 34: depreciating capital assets 4 Defining capital
Policy: 0 FIXED ASSET CAPITALIZATION I. Purpose The Fort Dodge Community School District Fixed Asset Capitalization Policy follows the requirements set forth by the Government Accounting Standards Board
PROPERTY AND EQUIPMENT Policy: Purchases or acquisitions of property, plant, and equipment shall be properly authorized and accurate records shall be maintained for cost/ acquisition value and accumulated
The Town of Fort Frances ACCOUNTING FOR TANGIBLE CAPITAL ASSETS SECTION ADMINISTRATION AND FINANCE NEW: May 2009 REVISED: POLICY Resolution Number: 05/09 Consent 156 Policy Number: 1.18 PAGE 1 of 11 Supercedes
Higher Education Funds Expenditures These guidelines cover the allocation, management, budgeting, expenditures, and related restrictions of Higher Education Funds (HEF), appropriated to Stephen F. Austin
Page 1 of 21 TABLE OF CONTENTS Page I. POLICY STATEMENT... 2 II. REASON FOR POLICY... 2 III. OVERVIEW... 2 IV. WHO SHOULD READ THIS POLICY?... 2 V. RELATED DOCUMENTS... 2 VI. WHEN TO CONTACT THE SYSTEM
CAPITAL ASSETS POLICY No. 07-04 PURPOSE: DEFINITION: To provide for the safeguarding of fixed assets and to provide County personnel with accounting guidance applicable to the several categories of fixed
UNIVERSITY OF NEBRASKA CAPITALIZATION POLICY AND DEFINITIONS CAPITALIZATION POLICY AND DEFINITIONS OVERVIEW Asset - Type and Classification Expected /Depreciable Life I. Land II. Buildings A. Buildings
FIXED ASSET PROCEDURES It is the policy of St. Norbert College to maintain accurate and complete records of Fixed Assets held and to capitalize and depreciate them according to appropriate accounting requirements.
NATIONAL FLOOD INSURANCE PROGRAM (NFIP) SUBSTANTIAL DAMAGE/ SUBSTANTIAL IMPROVEMENT (50% RULE) If your home or business is located within a 100-year floodplain and it was constructed through a County Building
Chapter 10 ADMINISTRATION AND FINANCE POLICIES AND PROCEDURES FIXED & MOVABLE ASSETS ACCOUNTING/INVENTORY CONTROL Revision Date: 01/01/2014 TABLE OF CONTENTS 10-01 Overview 10-02 Types of Capital Assets
Botetourt County, Virginia Development Services Construction Compliance Frequently Asked Questions Permits... 2 When is a permit required?... 2 When is a permit NOT required?... 2 Who may apply for a permit?...
CAPITALIZATION AND DEPRECIATION OF INFRASTRUCTURE OFFICE OF THE STATE AUDITOR Division of Technical Assistance Presentation to: Mississippi Association of Governmental Purchasing and Property Agents October
PINAL COUNTY POLICY AND PROCEDURE 8.8 Subject: CAPITAL ASSETS Date: Effective as of July 1, 2009 Pages: 1 of 6 Replaces Policy Dated: January 12, 1981, and subsequent revisions to date Purpose: The purpose
CHARLOTTE COUNTY Community Development Department Building Construction Services Division 18400 Murdock Circle, Port Charlotte FL 33948 Phone: 941.743.1201 Fax: 941.764.4907 www.charlottecountyfl.gov 50
ESSENTIAL CURRICULUM ARCHITECTURAL DESIGN ACADEMY HOWARD COUNTY MARYLAND ARCHITECTURAL DESIGN ACADEMY Architectural Design 1 Introduction / Overview of Course This course will introduce the basic principles
State System of Higher Education Financial Accounting Policy 2002-01 Subject: Capitalization of Fixed Assets Authorized By: Robert E. Myers, Interim Vice Chancellor for Finance and Administration Effective
City of Treasure Island FEMA Cost Breakdown Worksheet For Substantial Improvement / Damage Property Address: Company Name: Contractor Name: Contractor Address: City: State: Zip: License Number: Phone Number
Fixed Assets Guidebook Published by: Financial Services > Controller s Office > Reporting and Fixed Assets Effective: May 2009 Revised: July 2015 UNC CHARLOTTE FIXED ASSETS GUIDE BOOK TABLE OF CONTENTS
CITY OF EDGEWATER BUILDING DEPARTMENT 104 North Riverside Drive Edgewater, Florida 32132 Phone: (386) 424-2400 X 1514 FAX: (386) 424-2423 SUBSTANTIAL IMPROVEMENT OR SUBSTANTIAL DAMAGE APPLICATION SUBSTANTIAL
Important Information for Owners of Buildings in Flood Zones Rebuilding your home after the storm? Adding on, renovating, or remodeling your home? Here is information YOU need to know about the 50 percent
1 of 6 A. Property Accounting All District Property shall be accounted for through the use of appropriate records and inventory procedures. Deeds shall be properly recorded and safeguarded. All equipment
AP 531 - TANGIBLE CAPITAL ASSETS The following topics are discussed in this administrative procedure: 1.0 Policy 2.0 Purpose 3.0 Scope 4.0 Glossary 5.0 Categorization of Assets 6.0 Accounting and Reporting
D Sample Notices to Property Owners, Sample Affidavits, and Other Material These samples are offered to illustrate specific points in the Desk Reference. States and communities should examine them carefully
R-14-161 Meeting 14-35 December 17, 2014 AGENDA ITEM AGENDA ITEM 9 Revisions to Capital Expenditures and Depreciable Fixed Assets Policy DISTRICT CONTROLLER S RECOMMENDATION Approve the proposed revisions
Accounting for Leases Section: Accounting and Financial Reporting Title: Accounting for Leases Number: 05.281 Index POLICY.100 POLICY STATEMENT.110 POLICY RATIONALE.120 AUTHORITY.130 APPROVAL AND EFFECTIVE
UTS142.13 Appendix 3 Policy related to Computer Software The Governmental Accounting Standards Board (GASB) recently issued GASB 51, Accounting and Financial Reporting for Intangible Assets. This Statement
WHEN IS A PERMIT REQUIRED? Any owner, builder, contractor, or other authorized agent who intends to construct, enlarge, alter, repair, move, demolish, or change the occupancy of a building or structure,
CONTENTS: 591.01 Purpose of Home Modification (p.1) 591.02 Qualifying Individuals (p.2) NATURE AND SCOPE OF ASSISTANCE 591.03 General Nature and Scope of Service Provision (p.2) 591.04 Home Modification
9 S ACCOUNTING AND REPORTING...2 9.1 Capital Asset Reporting and Accounting Overview...2 9.1.1 Guide For Capitalization and Depreciation of Capital Assets...3 22.214.171.124 Background...4 126.96.36.199 Quick Facts...4
STAFF REPORT DATE: TO: FROM: SUBJECT: City Council Sandra Sato, Interim Finance Director Recommendation Adopt a Resolution approving a. Fiscal Impact None Council Goal(s) Fiscal stability Background and
No. 704 DEVELOPMENT AND MAINTENANCE OF AN INVENTORY OF FIXED ASSETS AND A FIXED ASSET ACCOUNTING SYSTEM I. PURPOSE The purpose of this policy is to provide for the development and maintenance of an inventory
Fixed Asset Inventory The purpose of the district-wide fixed asset inventory system is to gather information for the preparation of financial statements, including estimated annual depreciation costs of
STATE OF SOUTH CAROLINA RESIDENTIAL PROPERTY CONDITION DISCLOSURE STATEMENT The South Carolina Code of Laws (Title 27, Chapter 50, Article 1) requires that an owner of residential real property (single
Application for Tax Abatement for Rehabilitation of Property in a Local Historic District Historic Preservation Office Austin, Texas 512-974-2727 Adopted December 2012 To encourage preservation and maintenance
SECTION 105 PERMITS 105.1 Required. Any owner or authorized agent who intends to construct, enlarge, alter, repair, move, demolish, or change the occupancy of a building or structure, or to erect, install,
Fixed Asset Accounting Policies and Procedures I. Introduction A. Policy Statement B. Reason for Policy C. Who Should Read This Policy II. III. IV. Responsibilities Principles Procedures A. Recording the
This rule was filed as 1 NMAC 1.2.1. TITLE 2 CHAPTER 20 PART 1 PUBLIC FINANCE ACCOUNTING BY GOVERNMENTAL ENTITIES ACCOUNTING AND CONTROL OF FIXED ASSETS OF STATE GOVERNMENT, ACCOUNTING FOR ACQUISITIONS
PROPERTY, PLAN, AND EQUIPMENT POLICY PER5PECTIVE Property, Plant and Equipment (PP&E) are those assets including land and buildings, furniture, computer systems, etc., which the company retains more or
TREASURER S DIRECTIONS ACCOUNTING LIABILITIES Section A3.6 : Leases STATEMENT OF INTENT Assets required by Agencies to deliver outputs can be obtained by purchase or by lease. This Section provides the
A Residential Owner s Guide to PERMITS CITY OF Elgin PLANNING & NEIGHBORHOOD SERVICES CITY OF Elgin A Residential Owner s Guide Welcome! This booklet has been prepared to provide residential property owners