In Brief

  • A capital asset is a resource with a useful life greater than one year and with costs exceeding a defined threshold (the threshold varying by specific item).
  • ​Organizational units need to know when an asset must be capitalized – meaning that the item’s value is identified and recorded in the asset management module of the Finance System, and, if appropriate, how to report the asset’s reduction in value over time.

Quick Look

Procedural Statement - effective date: 03/11/2024 (click on Revision Log toggle to see what changed on this date)

Capitalization Criteria

Land

Improvements Other Than Buildings

Buildings

Equipment

Library Materials

Works of Art, Historical Treasures, and Collections

Intangible Assets

Leases (under GASB 87)

Gifts-in-Kind

Depreciation and Amortization

Disposal

Revision Log

Questions

Exceptions

Unless approved by the Associate Vice President & University Controller, there are no exceptions to this procedural statement. Requests for exceptions must be submitted through the appropriate campus controller's office.

Questions & Feedback

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Controller