Title: Capitalization Policy and Depreciation Policy for Capital Assets
Headings: 
Asset Valuation
Asset Salvage Value
Asset Classification
General Policy for Capitalization
Land Acquisitions
Buildings/Facilities
Building Renovations/Rehabilitation
Building Improvements
Land Improvements and Infrastructure
Equipment
Leased Equipment and Facilities
Capitalized Interest Costs:
Intangible Assets
Library Books
Artwork and Historical Treasures
Construction in Progress (CIP)
Depreciation
Information Needed to Calculate Depreciation
Estimated Useful Life
Depreciation Method
SUNY Useful Life Schedule
Building and Building Components:
Capital Equipment, Furniture, Fixtures, etc.:
Asset Retirement
Accounting for Environmental Remediation:

Content: Projects such as building construction included in the fixed asset value of the building, the cost of professional fees (architect and engineering), permits and other expenditures necessary to place the asset in its intended location and condition for use should be capitalized. Furthermore, the cost of interest incurred during building construction should be capitalized as described below under capitalized interest costs. Building Renovations/Rehabilitation
A building renovation is defined as enhancements made to a previously existing building component. Any renovation to a building must at a minimum meet the following criteria to qualify as a fixed asset: The total project cost must be more than $100,000
The renovation must extend the useful life or capacity of the asset
Building Improvements
An improvement to a building is defined as adding a new component where one did not previously exist. The improvement must cost more than $100,000 and have an initial useful life extending beyond a single reporting period (generally one-year). Land Improvements and Infrastructure
Land improvements include items such as excavation, non-infrastructure utility installation, driveways, sidewalks, parking lots, flagpoles, retaining walls, fencing, outdoor lighting, and other non-building improvements intended to make the land ready for its intended purpose. Land improvements can be further categorized as non-exhaustible and exhaustible. Expenditures for land improvements that do not deteriorate with use or passage of time are additions to the cost of land and are generally not exhaustible, and therefore not depreciable. Infrastructure assets are defined as 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.