HomeMy WebLinkAboutC.054.93010_0446IV. VEHICLES & LICENSED TRAILERS (6500.00)
Vehicles & Licensed Trailers Defined
Vehicles and licensed trailers are those items which are purchased
for the purpose of transportation as defined by the insurance
industry. This would include, but are not limited to, cars,
trucks, buses and any other mode of conveyance that is required by
the North Carolina Division of Motor Vehicles to obtain a licensed
tag for road use.
Capitalization Threshold
The capitalization threshold for vehicles and licensed trailers is
$5,000.
Examples of items to be capitalized for vehicles & licensed
trailers are:
• Use tax and tag fees
• Graphics for the identification of the county
vehicle/trailer
Examples of items not to be capitalized for vehicles & licensed
trailer are:
Equipment added to the vehicle that can be separated from
the vehicle in the event of accident
Routine maintenance items (i.e., tires and oil)
V. NOR -DEPRECIABLE ASSET DEFINITION AND REPORTING (6200.00)
Non -depreciable Asset Definition
Assets purchased, constructed or donated that meet or exceed the
established threshold must be uniformly classified. Donated
assets should be reported at fair value at the time of
acquisition. All departments must report donated property to the
Finance Department. Donations become the pro per_t_of the county_
not the department or -`02rafor which the donation — is ma - de -_ . -
Finance Department
s taff will assign and affix a fixed asset
number to e donated property.
Note: Fair value is the amount at which an asset could be
exchanged in a current transaction between willing parties.
Purchasing Non -depreciable Assets
Assets purchased at the established threshold and whose estimated
life extends for more than one year shall be considered non -
depreciable assets, be subject to annual inventory audits, and
shall be tagged with an identifying number assigned by Finance
Department staff.
Examples of items that could be considered non -depreciable assets:
Furniture or furniture components that when added together
total the threshold limit
Computers and/or computer equipment whose individual value
is at the threshold limit
Maintenance -type equipment that contributes to the
operation of county facilities (i.e., mowers and roll -off
containers
Mail machines and copiers
K-9 containers
Defibrilators and other medical equipment whose individual
value is equal to the threshold limit
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