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Capitalization of Assets

    • Last Updated: 02/17/2017
    • Effective Date:

    Policy Statement

    The University follows University System of Georgia capitalization policy as outlined in the Business Procedures Manual.  A link to the capitalization section of the USG Procedures Manual can be found under Related Information. This policy details various items related to capitalization, including:

    Asset Category Definitions

    Capitalization Thresholds

    Depreciation Methodologies

    Examples of Each Class of Assets.

    Reason for policy
    The University is required to comply with reporting requirements under Governmental Accounting Standards Board (GASB) Statements No. 34 and No. 35, Basic Financial Statements and Management’s Discussion and Analysis for State and Local Governments and Public Colleges and Universities.
    Additional contacts

    University of Georgia Property Control Department

    Policy definitions
    Capital Assets – Real or personal property that has a value equal to or greater than the capitalization threshold for the particular classification of the assets and has an estimated life of greater than one year.

    Responsible University Senior Administrator: Vice President for Finance & Administration

    Responsible University Administrator: Associate Vice President for University Business and Accounting Services

    Policy Owner:  Allison Davis

    Policy Contact Phone Number:  706-542-1197