NEPNNSBA Code DIDA that were acquired constructed orassets may be capitalized as deemed appropriate The District does not intend to use the modified approa E Other Assets Detailed recor ID: 869489
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1 NEPN/NSBA Code: DIDA This policy establ
NEPN/NSBA Code: DIDA This policy establishes the minimum cost value (capitalization amount) that shall be used M.S.A.D. #29s annual financial statement in order to comply with the requirements of ovisions of GASB Statement No. 34. A. Capital Asset Definition Capital assets will be defined as ta B. Capitalization Method All capital assets will be recorded at recorded at estimated historical cost by calculating current replacement cost C. Capitalization Thresholds M.S.A.D. #29 establishes the following minimum capitalization thresholds 1. Land and Improvements $ 25,000 2. Buildings and Improvements 50,000 3. Machinery/Equipment/Vehicles 5,000 4. Infrastructure 150,000 Detailed records shall be maintain D. Infrastructure Assets In accordance with GASB Statement
2 minimum, major infrastructure assets
minimum, major infrastructure assets as defined in Statement 34 Page 1 of 2 NEPN/NSBA Code: DIDA that were acquired, constructed, orassets may be capitalized as deemed appropriate. The District does not intend to use the modified approa E. Other Assets Detailed records shall be maintained of Schools for all items below the capms include computer equipment that F. Depreciation and Useful Life The business manager will assign an estimated useful life to all assets for expected to meet current service demands. Adjustments should be properly method using actual month convention a G. Safeguarding and C All machinery and equipment, vehiclforwarded to the business manager to Cross Reference: DID Inventories Adopted: November 5, 2012 Page 2 of 2 M.S.A.D. #29