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  <br />2  <br /> <br />Table of Contents  <br />  <br />  <br />  <br />INTRODUCTION .............................................................................................................................................. 3  <br />PURPOSE ....................................................................................................................................................... 3  <br />DEFINITION .................................................................................................................................................... 3  <br />BACKGROUND ................................................................................................................................................. 3  <br />OBJECTIVES .................................................................................................................................................... 3  <br />POLICIES AND PROCEDURES .......................................................................................................................... 4  <br />ACCOUNTING SYSTEM ...................................................................................................................................... 4  <br />ACCOUNTING STRUCTURE ................................................................................................................................. 4  <br />VALUATION .................................................................................................................................................... 4  <br />1) Basis .................................................................................................................................................... 4  <br />2) Cost Definition .................................................................................................................................... 5  <br />ACQUISITION REPORTING .................................................................................................................................. 5  <br />1) Land Held for Resale ........................................................................................................................... 5  <br />2) Land .................................................................................................................................................... 5  <br />3) Buildings & Building Improvements.................................................................................................... 5  <br />4) Equipment & Furnishings .................................................................................................................... 5  <br />5) Infrastructure ...................................................................................................................................... 5  <br />6) Other & Land Improvements .............................................................................................................. 5  <br />7) Construction in Progress ..................................................................................................................... 6  <br />8) Intangible Assets ................................................................................................................................ 6  <br />ESTIMATED USEFUL LIVES ................................................................................................................................. 6  <br />ASSET USE ..................................................................................................................................................... 7  <br />DISPOSAL ....................................................................................................................................................... 7  <br />1) Public Auction ..................................................................................................................................... 7  <br />2) Negligible Value .................................................................................................................................. 7  <br />3) Competitive Bidding ........................................................................................................................... 8  <br />TRADES ......................................................................................................................................................... 8  <br />TREATMENT OF SUBSEQUENT COSTS ................................................................................................................... 8  <br />TRANSFERS ..................................................................................................................................................... 8  <br />DEPRECIATION ................................................................................................................................................ 8  <br />USER DEPARTMENT RESPONSIBILITIES ................................................................................................................. 8  <br />FINANCE DEPARTMENT RESPONSIBILITY ............................................................................................................... 8  <br />CAPITAL ASSET FORMS ..................................................................................................................................... 9  <br />ATTACHMENTS ................................................................................................................................................ 9  <br />  <br />  <br />  <br />  <br />  <br />  <br />