BS711 - Capitalized Assets

Policies

Section: Business Services

The College shall ensure that a detailed listing of capitalized assets and their related depreciation or amortization be maintained for purposes of internal accountability, audit compliance, insurance recovery and equipment replacement. Capital assets will be classified as land, land improvements, buildings, improvements other than buildings, equipment, intangible assets and construction in progress.

Cross Reference:
Procedure BS5304 - Sale of Surplus Equipment

Procedure BS5305 - Leased and Lease Purchased Equipment

Procedure BS5610 - Capital Purchases and Accounting

Procedure BS5640 - Deleting Equipment from College Records

Procedure BS5650 - Donations of Equipment to the College

Procedure BS5660 - Inventory Control System

Procedure BS5832 - Accounting for Leased Purchase Equipment

Adopted: July 14, 2008
Reviewed: 2010, 2020, 2024

Revised:
December 2019