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3 <br /> <br />a) Basis .................................................................................................................................................... 4  <br />b) Cost Definition .................................................................................................................................... 4  <br />ACQUISITION REPORTING .................................................................................................................................. 4  <br />1) Land Held for Resale ........................................................................................................................... 4  <br />2) Land .................................................................................................................................................... 4  <br />3) Buildings & Building Improvements.................................................................................................... 4  <br />4) Equipment & Furnishings .................................................................................................................... 4  <br />5) Infrastructure ...................................................................................................................................... 4  <br />6) Other & Land Improvements .............................................................................................................. 4  <br />7) Construction in Progress ..................................................................................................................... 5  <br />8) Intangible Assets ................................................................................................................................ 5  <br />ESTIMATED USEFUL LIVES ................................................................................................................................. 5  <br />ASSET USE ..................................................................................................................................................... 6  <br />DISPOSAL ....................................................................................................................................................... 6  <br />3) Competitive Bidding ‐ ......................................................................................................................... 7  <br />TRADES ......................................................................................................................................................... 7  <br />TREATMENT OF SUBSEQUENT COSTS ................................................................................................................... 7  <br />TRANSFERS ..................................................................................................................................................... 7  <br />DEPRECIATION ................................................................................................................................................ 7  <br />USER DEPARTMENT RESPONSIBILITIES ................................................................................................................. 7  <br />FINANCE DEPARTMENT RESPONSIBILITY ............................................................................................................... 7  <br />CAPITAL ASSET FORMS ..................................................................................................................................... 8  <br />ATTACHMENTS ................................................................................................................................................ 8  <br />INTRODUCTION ..................................................................................................................................... 3  <br />PURPOSE ....................................................................................................................................................... 3  <br />BACKGROUND ................................................................................................................................................. 3  <br />GOAL ............................................................................................................................................................ 3  <br />OBJECTIVES .................................................................................................................................................... 3  <br />CAPITAL ASSETS VS. INVENTORY ............................................................................................................ 4  <br />DEFINITION .................................................................................................................................................... 4  <br />VS. INVENTORY ............................................................................................................................................... 4  <br />ACCOUNTING SYSTEM ........................................................................................................................... 4  <br />SYSTEM ......................................................................................................................................................... 4  <br />ACCOUNTING STRUCTURE ................................................................................................................................. 4  <br />VALUATION .................................................................................................................................................... 5  <br />a) Basis ................................................................................................................................................... 5  <br />b) Cost Definition ................................................................................................................................... 5  <br />ACQUISITION REPORTING .................................................................................................................................. 5  <br />1) Land Held for Resale ........................................................................................................................... 5  <br />2) Land .................................................................................................................................................... 5  <br />3) Buildings ............................................................................................................................................. 5  <br />4) Equipment & Furnishings .................................................................................................................... 6  <br />5) Other & Land Improvements .............................................................................................................. 6  <br />6) Construction in Progress ..................................................................................................................... 6  <br />7) Intangible Assets ................................................................................................................................ 6  <br />DISPOSAL ....................................................................................................................................................... 6  <br />TRADES ......................................................................................................................................................... 7  <br />TREATMENT OF SUBSEQUENT COSTS ................................................................................................................... 7  <br />TRANSFERS ..................................................................................................................................................... 7  <br />DEPRECIATION ................................................................................................................................................ 7