| Leipsic Local School District |
| Bylaws & Policies |
7450 - PROPERTY INVENTORY
Only singular items that cost $200.00 or more will be capitalized.
Lots and/or collections of singular items whose individual value is below $200 but whose combined value may exceed $200 will not be capitalized. These items include student desks, student chairs, textbooks, library books, floor coverings, etc.
The Leipsic Local School District will incorporate the straight-line method of depreciation.
All capitalized items will be classified in one (1) of the following cost recovery periods:
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A. |
5-year: |
-small appliances (mixer) |
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-maintenance/custodial equipment (sweeper) |
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-power tools |
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-automobiles |
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-light and heavy trucks |
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-trailers |
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-typewriters |
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-copiers |
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-computers |
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-peripheral equipment |
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-lawn and grounds equipment |
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B. |
7-year: |
-appliances (washer/dryer) |
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-athletic equipment |
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-audio/visual equipment |
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-shop equipment |
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-music instruments |
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-office furniture |
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-office equipment |
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-misc. machinery |
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-misc. equipment |
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-buses |
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C. |
10-year: |
-cafeteria equipment (cooler/freezer) |
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-playground equipment |
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-building fixtures |
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D. |
15-year: |
-land improvements (paving) |
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-building improvements (windows, roofs) |
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-modular buildings |
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-boilers |
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E. |
20-year: |
-out buildings |
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F. |
40-year: |
-main buildings |
Revised 10/14/92
Revised 1/14/02