Title: Accounting for Buildings & Improvements | Finance & Business
Headings: Accounting for Buildings & Improvements
Accounting for Buildings & Improvements
Guidance on establishing when costs for buildings and improvements must be capitalized at the university.
Procedures
1. Purchased Buildings:
2. Construction and Improvements:
3. Fixed Equipment
4. General Improvements

Content: This includes gas, electric, HVAC, steam, oxygen, chilled water, compressed air, microwave, fuel oil, and fire protection systems that cannot be directly assigned to a building or structure. Costs of all utilities constructed within a building are capitalized as part of the building. Telephone and Data Communications: This includes the overall system architecture and cabling. Equipment items over the capital threshold of $5,000 (e.g., routers, switches, etc.) will be identified as inventorial equipment and depreciated based on the appropriate useful life provided in the University Useful Life table. Landscaping and Athletic Fields
Irrigation
Other Miscellaneous: This includes other general improvements such as signage, fences, decks, fountains, etc.