Section 02.36: Account Codes -- Fixed Assets/Accumulated Depreciation (A8000-A8999)
General
The following account codes are used to record the capitalization and accumulated depreciation
of all non-expendable, tangible personal property and real property (also known
as 'Fixed Assets') from
proprietary and
non-proprietary funds.
Proprietary funds include all auxiliary enterprise and service department
funds while
non-proprietary funds include all funds
except
auxiliary enterprises and service departments.
The capitalization and accumulated depreciation of non-proprietary funded
fixed assets should be recorded in the Net Investment in Plant fund 890000 using
the below asset/contra asset accounts but are to be procured using the 4xxxx
capital outlay accounts. The capitalization and accumulated depreciation of
proprietary funded fixed assets should be recorded in the individual
auxiliary enterprise/service department funds using the below asset/contra asset
accounts.
The
following asset account codes are also used to procure fixed assets with
proprietary funds.
(See 4xxxx account series for asset procurements
from non-proprietary funds.) The following account codes are
used for recording fixed assets and accumulated depreciation in the General
Ledger as well as in the Banner Fixed Assets system.
Section Layout:
[1] Personal
Property
[2] Real
Property
[3] Accumulated
Depreciation
[1] Personal Property
[2] Real Property
All Real Property expenditures are to be charged to Unexpended Plant funds or Renewal and Replacement Funds (fund
types 81 & 83) using the
4xxxx account codes, with the possible exception of expenditures for Improvements Other Than Buildings (IOTB's). The following accounts are used for recording the capitalization of real property either in the Net investment in plant fund 890000 or in the proprietary funds themselves depending on the asset's responsible unit's predominant funding source.
A8121 Land
This account code should be used to capitalize the expenditures for land purchase. The entire purchase price, which includes buildings not intended for use, is included in the value of the land. Other costs are also included, such as land conditioning, provided it is not associated with a building or construction of an improvement other than a building or infrastructure. Land is not included in depreciable assets. (See accounts 403xx for procurements.)
[3] Accumulated Depreciation
