Administrative Procedure 516
CAPITAL ASSETS AND CAPITAL PROJECTS
Capital asset acquisitions in the Division are made in accordance with recognized accounting principles and Alberta Education guidelines.
is the process of expensing the cost of an asset over its estimated useful economic life.
is the process of charging the full cost of a capital asset to a school or department at the time of acquisition, with subsequent amortization recorded to an administrative cost centre.
is an expenditure that provides services and benefits for more than one fiscal year. A $5,000 benchmark has been established for considering an asset for capitalization.
is a capital asset with:
- numerous payments to one or more vendors, and/or
- completion to take place over an extended time frame.
- Capital Assets
- Capital assets purchased with Division funds are the property of the Division.
- Principals/directors shall initiate purchase of an individual capital asset where payment will be made to one vendor using the Capital Asset Addition Form (Form 516-1).
- All invoices for capital assets shall be processed by the Director of Financial Services to ensure capitalization entries can be recorded and capital assets tracked.
- Capital Projects
- Principals/directors shall initiate capital projects using the Authorization for Expenditure Form (Form 516-2).
- Capital projects and assets (with the exception of land) shall be systematically amortized over the useful economic life of the asset.
- Amortization shall be charged to either:
- the school/department; or
- a Division cost centre if the buyout option has been approved.
Section 20, 60, 61, 80, 113, 116, 121 School Act
Freedom of Information and Protection of Privacy Act
School Buildings and Tendering Regulation 383/88
Agreement on Internal Trade; Annex 502.4
Trade, Investment, and Labour Mobility Agreement
New West Partnership Trade Agreement
Last Updated: August 2016