Keyword Search

State of Georgia Capital Asset Guide

    • Last Updated: 04/25/2016
    • Effective Date:

    Policy Statement

    University System of Georgia (USG) Capital Asset Guide - Capital Asset Classification:

    Assets purchased, constructed, or donated that meet or exceed the University System’s established capitalization thresholds or minimum reporting Requirements must be uniformly classified in conformity with the Business Procedures Manual.

    Capital assets should be recorded and reported at their historical costs, which include the vendor’s invoice (plus the value of any trade-in), plus sales tax, initial installation cost (excluding in-house labor), modifications, attachments, accessories or apparatus necessary to make the asset usable and render it into service.  Historical costs also include ancillary charges such as freight and transportation charges, site preparation costs and professional fees.

    Capitalization Thresholds:

    Standard capitalization thresholds for capitalizing assets have been established for each Asset Category. All state organizations are required to use these thresholds. 

    Class of Asset Threshold

    Land/land improvements Capitalize All
    Buildings/building improvements $100,000
    Improvements other than buildings $100,000
    Infrastructure $1,000,000
    Personal property (equipment/furniture/vehicles/leased equipment) $5,000
    Library books/materials (collections) Capitalize All
    Works of art/historical treasures Capitalize All
    Software developed or obtained for internal use $1,000,000
    Capital Leases – Buildings $100,000
    Reason for policy
    This policy shows how to track property owned by or in the possession of UGA and to comply with state and federal guidelines.
    Additional contacts
    Property Control Office, 706-542-4390,

    Responsible University Senior Administrator:Vice President for Finance & Administration

    Responsible University Administrator: Associate Vice President & Controller

    Policy Owner: UGA Property Control

    Policy Contact: Craig Mathews

    Phone Number: 706-542-4390