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ctcLink Accounting Manual | 40.40.30.1 Capital Asset Categories

40.40.30.1 Capital Asset Categories

Since Asset Categories are global in ctcLink, they are created under the WACTC Set ID. Several asset classes are required to be tracked but should not be depreciated.

ALL capital assets acquired with Certificates of Participation MUST be capitalized and may fall within one or more Asset Classes listed below.

The Community College System has invested in a broad range of capital assets that are used in system operations, which include:

ctcLink Asset Category Asset Description Threshold Depreciate/Amortize?

BLDG

Buildings

$100,000

Yes

CIP

Construction in Progress

$100,000

No

EQUIP

Furnishings and Equipment, including

  • Machinery
  • Furniture
  • Vehicles, etc.

$5,000

Yes

IMPRV

Improvements Other than Bldgs

$100,000

Yes

INF-D

Infrastructure, Depreciable

$100,000

Yes

INF-N

DOT Transportation Infrastructure

Do Not Use!

Do Not Use!

INT-D

Intangible Assts w/ Def Useful Life (Exhaustible), including:

  • Internally developed software
  • Patents and Trademarks
  • Subscription-based information technology arrangements
  • Other Intangible Assets

All

Yes

INT-N

Intangible Asst w/ Indef Usfl Life (Inexhaustible), including:

  • Works of art
  • Historical treasures

All

No

LAND

Land

All

No

LIBRE

Library Resources

All

Yes

LS-BD

Leased Assets - Cap Building

See Note 1

Yes

LS-EQ

Leased Assets - Cap Equip

See Note 1

Yes
LS-IM Leased Assets - Cap Improv See Note 1 Yes
LS-LD Leased Assets - Cap Land See Note 1 Yes
LS-OP Leased Assets - Operating See Note 1 Yes
S-A Small & Attractive Assets All No
  1. OFM has established a threshold of $500,000 for the State of Washington. However, each college district should establish its own threshold based upon materiality for its independent financial statements as directed by the State Auditors.

To view a current list of asset categories run the CTC_AM_CATEGORY query in FSCM. The query also indicates the following whether the asset is tangible (Y/N), depreciable (D/N) and if it is a leased (Y/N).

With appropriate permissions in ctcLink the AM Category list may also be viewed by navigating to Navigator > Set Up Financials/Supply Chain > Product Related > Asset Management > Financials > Categories.


40.40.30 Capital Asset Definition <<  40.40.30.1 >>  40.40.30.2 Capitalization Thresholds

Page Manager: slocke@sbctc.edu
Last Modified: 3/4/24, 1:17 PM

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