Original Author: Darden, Don
Date of Material: 05/07/2004
Reviewed Date: 04/22/2021
MTAS was requested to provide assistance to Morrison on the implementation of GASB 34; includes a resolution and forms for keeping records.
First, pass the resolution.
Second, identify your capital assets.
Third, record capital assets.
Fourth, include expense for deprectiation in the general fund budget.
Land $100,000 (dep. over 40 years) = $2,500
Computer $10,000 (dep. over 3 yrs)= $3,333.33
Patrol Car $20,000 (dep. over 5 yrs)= $4,000
Depreciation Expense is $9,833.33
Capital Asset Disposal Record.doc
Capital Asset Ledger Card.doc
Resolution Establishing the Threshold for Capitalization.doc
Capital Asset Disposal Record.pdf
Capital Asset Ledger Card.pdf
Resolution Establishing the Threshold for Capitalization.pdf