HomeMy WebLinkAbout16.13 Tangible Capital Assets Accounting Standards and Depreciation POLICY
Section Policy No. Page
a • ill Financial 16-13 1 of 9
Co fty Policy Title Date: Resolution
No.
Tangible Capital Assets Accounting Standards July 26, 2016 320/16
and Depreciation
PURPOSE:
The purpose of this policy is to prescribe the accounting treatment for Tangible Capital Assets (TCA) in
accordance with Public Sector Accounting Standards Board (PSAB) Section 3150.
POLICY STATEMENT:
This policy prescribes the accounting treatment for tangible capital assets so that users of the financial
statement can discern information about the investment in property, plant, and equipment and the changes in
such investment.The principle issues in accounting for tangible capital assets are the recognition of assets,the
determination of their carrying amounts, amortization, and the recognition of any impairment losses.
In addition,this policy establishes guidelines to:
a) Protect and control the use of all tangible capital assets
b) Provide accountability of tangible capital assets
c) Gather and maintain information needed to prepare financial statements in accordance with Public
Sector Accounting Board Handbook Section 3150(PS 3150)
POLICY DEFINITIONS:
• Tangible Capital Assets or"TCAs"are defined as non-financial assets having physical substance that.
a) are used on a continuing basis in the County's operations
b) have useful economic lives beyond one accounting period
c) are not for sale in the ordinary course of operations
d) are held for use in the production or supply of the goods and services,for rental to others,for
administrative purposes or for the development, maintenance or repair of other tangible assets,
and are used on a continuing basis.
• Betterments are subsequent expenditures on existing tangible capital assets that:
a) Increase previously assessed physical output or service capacity
b) Lower associated operating costs
c) Extend the useful life of the asset beyond 10 years
d) Improve the quality of the output
• Group Assets are assets that have a unit value below the capitalization threshold but have material
value as a group. Group assets are recorded as a single asset with one combined value. Although
recorded in the financial system as a single asset, each unit may be recorded in the asset sub-ledger
for monitoring and controlling its use and maintenance.
• Fair Market Value is the amount of consideration a willing buyer would pay to a willing seller in an
arm's length transaction where there is no compulsion to act whether the asset is new or used.
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0 flfy Policy Title Date: Resolution
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Tangible Capital Assets Accounting Standards July 26,2016 320/16
and Depreciation
• Capital Lease is a lease with contractual terms that transfer substantially all the benefits and risks
inherent in ownership of property to the County. For substantially all the benefits and risks of
ownership to be transferred to the County, one or more of the following conditions must exist:
a) There is reasonable assurance that the County will obtain ownership of the leased property by the
end of the lease term
b) The lease term is of such duration that the County will receive substantially all the economic
benefits expected to be derived from the use of the leased property over its life span
c) The lessor would be assured of recovering the investment in the leased property and of earning a
return on the investment as a result of the lease agreement.
• Amortization (depreciation) is the process of allocating the cost of an asset to the periods of benefit,
over the useful life of the asset
• Capitalization Value Threshold or"CVT" is the minimum value spent on an asset to be classified as a
Tangible Capital Asset. Each Asset Classification will have its own CVT.
• New Aggregate Cost is defined as the gross amount of consideration paid to acquire, construct,
develop or better a TCA.This includes all costs directly attributable to acquisition,construction,
development or betterment of the TCA including installation of the asset at the location and in the
condition necessary for its intended use.
• Historical Aggregate Cost is defined by taking current reproduction cost and deflating the value using
the Consumer Price Index rate of inflation back to date of acquisition, where no prior records exist.
The cost of a contributed TCA, including a TCA in lieu of a developer charge, is considered to be equal
to its FAIR MARKET VALUE at the date of contribution.
POLICY GUIDELINES:
1) Capitalization Threshold—tangible capital assets should be capitalized (recorded in the fixed asset sub-
ledger) according to the following guidelines:
a) All Land and Cultural and Historical Assets.
b) $10,000 for Buildings, Machinery and Equipment, Vehicles, and Land Improvements, or any
amount that would add to the completeness of the asset listing(insurance, maps, complete
systems, etc.).
c) $50,000 for Engineered Structures, or any amount that would add to the completeness of the
asset listing(insurance, maps, complete systems, etc.).
d) Betterments will be capitalized to existing assets at values prescribed as per a-c.
2) Classification of Assets-The Major Asset Classifications are:
a) Land
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Co yet Policy Title Date: Resolution
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Tangible Capital Assets Accounting Standards July 26,2016 320/16
and Depreciation
b) Land Improvements
c) Buildings
d) Engineered Structures
e) Machinery and Equipment
f) Vehicles
g) Cultural and Historical Assets
Minor classifications in each major category may be used as well as further sub-classes based on location,
unique criteria, applications, methodologies and asset lives as per APPENDIX A.
LAND includes land purchased or acquired for value for parks and recreation, building sites, infrastructure
(roads, dams, bridges, tunnels, etc.) and other program use, but not land held for resale.
LAND IMPROVEMENTS are all improvements of a permanent nature to land such as parking lots, landscaping,
fencing, lighting, and pathways.
•
BUILDINGS are permanent,temporary or portable building structures, such as offices,garages, warehouses,
grader shops,fire halls, and recreation facilities intended to shelter persons and/or goods, machinery,
equipment and working space.
ENGINEERED STRUCTURES are permanent structural works such as roads, bridges, dams, canals, water, waste
water, utility distribution and transmission systems including plants and substations
a) Road systems include assets intended for the direct purpose of vehicle or pedestrian travel or to aid in
vehicle or pedestrian travel. Includes roads, overpasses, parkades, lights, sidewalks and signage.
b) Bridges are structures that carries a road, path, railroad or canal across a road, ravine, railroad, river or
other structure
c) Water systems include systems for the provision of water through pipes or other constructed convey.
It is normally comprised of assets for the intake, distribution, storage and treatment of potable water.
It may also be comprised of assets required to distribute non-potable water. Includes mains, services,
pump and lift stations, plants and equipment, reservoirs, hydrants and meters.
d) Wastewater systems defined as water that has been used for household, business and other purposes,
which flows from private plumbing systems to public sanitary systems and on to treatment or disposal.
This system is comprised of assets used for the collection and treatment of non-potable water
intended for return to a natural water system or other water source or used for other environmentally
approved purpose. Includes mains, services, pumps and lift stations, lagoons, plants and facilities.
e) Towers are vertical structures to which communication equipment is mounted to.
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Policy Title Date: Resolution
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and Depreciation
f) Dams are physical barriers, commonly across watercourse, primarily to hold back water.
MACHINERY AND EQUIPMENT includes equipment that is used for constructing or maintaining infrastructure,
as well as equipment in buildings and office, but excludes electronic technology(equipment, computers,
printers, photocopiers, phones or software).
VEHICLES include all transportation that is required by law to have a registered motor vehicle plate.
CULTURAL AND HISTORICAL ASSETS are works of art and historical treasures that have cultural, aesthetic, or
historical value that are worth preserving perpetually.These assets are not recognized as tangible capital
assets in the financial statements, but the existence of such property should be disclosed. Buildings and
landmarks may be included in this section.
3) Valuation -Tangible capital assets will be recorded at cost plus all additional charges necessary to
place the asset in its intended location and condition for use. Interest costs incurred will not be
capitalized.
a) PURCHASED ASSETS—Cost is the gross amount of consideration paid to acquire the asset. It
includes non- refundable taxes and duties, freight and delivery charges, installation and site
preparation costs.
Cost of land includes the purchase price plus legal fees, land registration, and taxes. Costs would
also include any costs necessary to make the land suitable for its intended use.
When two or more assets are acquired for a single purchase price, it is necessary to allocate the
purchase price to the various assets acquired.Allocation should be based on the fair market value
of each asset at the time of acquisition or some other reasonable basis if fair market value is not
readily determinable.
b) ACQUIRED, CONSTRUCTED OR DEVELOPED ASSETS—Include all costs directly attributable (i.e.
construction, architectural, other professional fees) to the acquisition, construction or
development of the asset. Carrying costs such as internal design, inspection, direct administration
and other similar costs may be capitalized. General administrative costs will not be capitalized.
Capitalization of carrying costs will cease when no construction or development is taking place or
when the tangible capital asset is ready for use.
c) CAPITALIZATION OF INTEREST COSTS- Interest costs incurred by the acquisition, construction, and
production of an asset that takes a substantial period of time to get ready for its intended use will
not be capitalized as part of the cost of the asset.
d) DONATED OR CONTRIBUTED ASSETS-The cost of donated or contributed assets is equal to the fair
market value at the date of construction or contribution. Fair market value may be determined
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and Depreciation
using market or appraised values. Cost may be determined by an estimate of replacement cost;
additional costs will be capitalized.
TCAs still in use but fully amortized will be recorded at original cost with full amortization until the
asset is no longer in use. Useful life expectancies may be adjusted as required if a TCA is fully
amortized and still in use.
e) TANGIBLE CAPITAL ASSETS WITHOUT HISTORICAL COST RECORDS—Where historical costs are not
available from review of County records, opening values will be estimated using Deflated
Reproduction Cost method.The method identifies the cost of reproducing the asset in
substantially identical form. It does not take into account impacts such as changes in technology or
construction methods.To establish TCA opening values where no historical records are available,
Deflated Reproduction Cost will be calculated by taking today's cost and deflating its'value by
using the Consumer Price Index back to date of acquisition. If the exact date of acquisition is
unknown, a reasonable estimate will be used.The resultant estimated historical cost less salvage
value is amortized from the date of acquisition to the current date to reflect the remaining useful
life of the asset.
4) Electronic Assets and Software-Certain items will be tracked, that fall below the capitalization
threshold,for control and security reasons. In accordance with the capitalization policy,these items
will be expensed when purchased if under$10,000 and will be recorded as a Non-Tangible Capital
Asset project if exceeds$10,000.A description of the items and their location will be maintained in
separate maintained lists. If the item is attached to another asset, it will be included as part of the cost
of that asset.These include:
a) Computers and related equipment
b) Cell Phones
c) Phone system
d) Printers/Plotters
e) Recording devices
f) Software
g) Sound Systems
h) Cameras
i) Radio
5) Componentization-Tangible capital assets may be accounted for using the single asset or
componentization approach. Whether the componentization approach will be used will be determined
by the usefulness of information versus the cost of collecting and maintaining information at the
II
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component level. Consideration factors used to determine whether to use the componentization
approach include:
a) Major components have a significantly different useful lives and consumption patterns than the
related tangible capital asset
b) Value of components in relation to the whole tangible capital asset
Infrastructure systems will generally be valued using the componentization approach within its
respective sub-class. Major components should be grouped when the assets have similar
characteristics and estimated useful lives and consumption rates.
6) Group Assets- Include one-time purchases of"like" assets (can be separated into groups such as
chairs, desks, shelves, tables.) Includes the acquisition and replacement of blocks of assets but does
not include replacement of individual assets as part of a normal replacement cycle. If the value of each
individual item is lower than the capitalization threshold and the total value of the group purchase
(including all related costs) is over$50,000, the purchase will be capitalized as a group and recorded as
a single asset. However, each unit may be recorded in the asset sub-ledger for monitoring and control
of its use and maintenance. Group assets may also be defined as"pooled or bulk assets."
7) Betterment or Maintenance-Amounts spent on tangible capital assets to increase physical output or
service capacity, decrease operating costs, extend the minimum useful life by three years or more, or
improves the quality of output of the tangible capital asset will be classified as Betterment and will be
added to the tangible capital asset and amortized so long as it meets the capitalization threshold. All
other expenditures will be expensed.
8) Amortization Methods and Rates-The cost of a tangible capital asset should be amortized over its
useful life in a rational and systematic manner appropriate to its nature and use. In most cases the
valuation date for TCAs will be the date of acquisition or date the asset goes into service. In a case of
change in status of municipal entity, dissolution, amalgamation or annexation,the value of the TCAs
contributed will be the date of the Order in Council, dissolution or annexation approval.
The amortization method and estimate of useful life of the remaining unamortized portion will be
reviewed annually and revised when the appropriateness of a change can be clearly demonstrated.
The effect of any change to useful life will be recorded in the year of the revision and future years and
not retroactive.
Land and Cultural and Historical property will not be depreciated.
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Section Policy No. Page
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0 nt J Policy Title Date: Resolution
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Tangible Capital Assets Accounting Standards July 26, 2016 320/16
and Depreciation
In the depreciation of land improvements, buildings and engineered structures the straight line
method of amortization will be used.
In the depreciation of vehicles and construction, machinery and equipment the straight line method or
unit of use or output method of depreciation will be used.
In the years of acquiring and disposing of a TCA, no matter what month it is purchased or disposed in,
it will be depreciated 100 per cent of the annual depreciation in the year of acquisition and zero
depreciation in the year the asset is disposed.
9) Useful Life Ranges: (also see Appendix A)- If the useful life is determined to be longer or shorter than
the recommended useful life, adequate documentation must be on file to support the decision.
In the case where the useful life was not revised and an asset continues to be used past the expiration
of its useful life, then the asset will be carried on the TCA sub-ledger at a net book value of its
remaining salvage value until such time the asset is actually disposed of. In instances such as this,the
useful life of the asset will not be revalued once the net book value equals the remaining salvage
value.
10) Reviews,Asset Disposals and Write Downs-At least once annually, under the direction of the Chief
Administrative Officer or designate, will review the existing TCA records, which include book values,
useful life and amortization methods, and determine if adjustments are required to ensure the
appropriate depreciation method and useful life term has been established for each asset.
Recommendations will be presented to CAO for final determination.
Disposals of assets may occur by sale,trade-in, destruction, loss, abandonment or donation when the
asset becomes obsolete or the continued use is uneconomical or inefficient,or which serves no useful
purpose.The CAO or designate is responsible for the method of disposing of surplus assets, so long as
it is approved in the budget process and it maximizes the value of the asset disposed where applicable.
The asset classes this applies to are vehicles, machinery and equipment. Council will approve the
disposal of assets that are not budgeted for as well as all buildings, engineered structures, land
improvements and land disposals.There are other legislative requirements to follow for the disposal of
certain assets (i.e. Land).
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Section Policy No. Page
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0 flt Policy Title Date' Resolution
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Tangible Capital Assets Accounting Standards July 26,2016 320/16
and Depreciation
The CAO or designate will inform the Finance Department by way of an Asset Disposal Form, any
decrease in asset inventory for accounting and insurance purposes (Appendix B).
The difference between the net proceeds on disposal of a tangible capital asset and the net book value
of the asset should be accounted for as a gain (revenue) or loss (expense) in the Statement of
Operations.
When conditions indicate that a tangible capital asset no longer contributes to the County's ability to
provide goods or services, or that the value of future economic benefits associated with the tangible
capital asset is worth less than its book value,the cost of the tangible capital asset should be reduced
to reflect the decline in the asset's value. Write downs will not be reversed. (CICA Handbook)
11) Maintaining Records-Where possible, each Tangible Capital asset categorized will have a paper
record such as a copy of the original invoice, cheque, purchase order, sales contract or accepted offer
to purchase, and retained in the central filing system.
12) Financial Reporting-A current list of TCA acquisitions and disposals will be produced for the annual
audit to ensure the appropriate adjustments have been made in the general ledger accounts and for
the financial statements.The financial statements will disclose, for each major asset category of
tangible capital assets and in total:
a) Cost at the beginning and end of period
b) Additions in the period
c) Disposals in the period
d) Amounts of any write downs in the period
e) The amount of amortization of the costs of tangible capital assets for the period
f) Accumulated amortization at the beginning of the period
g) Net carrying amount at the beginning and end of the period
Financial statements will also disclose the following information about tangible capital assets:
a) Amortization method used, including the amortization rate for each major class of tangible capital
asset
b) The net book value of the tangible capital assets not being amortized because they are under
contraction or development (work in progress)or have been removed from service
c) The nature and amount of contributed capital assets received in the period and recognized in the
financial statements
d) The nature and use of tangible capital assets recognized at nominal value
e) The nature of the works of art and historical treasures held by the County
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Section Policy No. Page
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IV fl� Policy Title Date Resolution
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Tangible Capital Assets Accounting Standards July 26, 2016 320/16
and Depreciation
All accounting procedures will comply with CICA PSAB Regulation 3150.
i i
7
Bob Long, Al H ggan, 1
Reeve AD
Approved: May 27, 2008 260/08
Amended: July 21, 2015 321/15
Amended: July 26, 2016 320/16
Review By: July 2019
1
1
KNEEHILL COUNTY
TANGIBLE CAPITAL ASSETS tt��
ass"TCD UOCFUL LIVE() Sub-Class Sub-Sub-Class Useful Liffe`I�DIX"�
Buildings Camp Chalet Wood Frame 40
Buildings Camp Kitchen Log Frame 40
Buildings Camp Kitchen Wood Frame 40
Buildings Concession Stand Wood Frame 40
Buildings Fire Hall Concrete Block 50
Buildings Fire Hall Wood Frame 50
Buildings Portable Shack Wood Frame 25
Buildings Public Showers Wood Frame 40
Buildings Public Washroom Concrete 50
Buildings Public Washroom Wood Frame 40
Buildings Shed Wood Frame 40
Buildings Shed Wood Pole Frame 25
Buildings Shop Steel Frame 50
Buildings Shop Wood Frame 50
Buildings Office Wood Frame 40
Buildings Office Concrete Block 50
Buildings Office Equipment Filing System 50
Engineered Structures Bridge Concrete Culvert 100
Engineered Structures Bridge Major Bridge 100
Engineered Structures Bridge Minor Bridge 60
Engineered Structures Bridge Steel Culvert 80
[Engineered Structures Dams Rock and Earth Dam 50
I Engineered Structures Road Blade Grade-Base 20
I Engineered Structures Road Chip Seal-Base 32
Engineered Structures Road Chip Seal-Surface 6
[Engineered Structures Road Dirt-Base 40
Engineered Structures Road Gravel-Base 20
Engineered Structures Road Paved-Base 32
Engineered Structures Road Paved Surface 16
Engineered Structures Sewer Collection System 60
Engineered Structures Sewer Fence-Chain-link 20
Engineered Structures Sewer Lagoon 60
Engineered Structures Sewer Sani-Dump 30
i Engineered Structures Towers Fence-Chain-link 20
I Engineered Structures Towers GPS Units 10
I Engineered Structures Towers Paving-Gravel 20
Engineered Structures Towers Radio Repeater System 10
Engineered Structures Towers Secan 25
Engineered Structures Towers Shed-Radio Tower Equipment 40
I Engineered Structures Towers Steel Tower 35
I Engineered Structures Towers Vehicle Radios 10
Engineered Structures Transportation Fuel Tanks 15
Engineered Structures Water Booster Station 40
Engineered Structures Water Distribution System 75
Engineered Structures Water Fence-Chain-link 20
Engineered Structures Water Fire Hydrants 30
Engineered Structures Water Generator 30
Engineered Structures Water Equipment Improvements 45
Engineered Structures Water Land Improvements 20
KNEEHILL COUNTY
TANGIBLE CAPITAL ASSETS
r.G.iass/.TED UOEFUL LIVE() Sub-Class Sub-Sub-Class Usefu TifeCtaDllt'f"
Engineered Structures Water Pump House 45
Engineered Structures Water Pumphouse Equipment 45
Engineered Structures Water Resevoir 45
Engineered Structures Water Resevoir Control Building 40
Engineered Structures Water Underground Resevoir 50
Engineered Structures Water Vault 50
Engineered Structures Water Water Meters 15
Engineered Structures Water Well 50
Equipment Air Compressor Air Compressor 10
Equipment Air Compressor Cylinder Fill System 10
Equipment Backhoe Backhoe 15
Equipment Compactor Landfill Compactor 15
Equipment Crane Bridge Crane 15
Equipment Dozer Dozer 15
Equipment Drill Box-Drill 10
Equipment Fire Rescue Equipment Air Compressor 10
Equipment Fire Rescue Equipment Extrication Tools 10
Equipment Forklift Forklift 10
Equipment Fuel Management System Fuel Management System 10
Equipment Fuel Tank Fuel Tank 10
Equipment Grader Grader 15
Equipment Leveler Hayland Leveler 10
Equipment Loader Loader 15
Equipment Loader Bucket Loader Bucket 8
Equipment Loading Chute Portable Loading Chuter 15
Equipment Mower Front Mower 10
Equipment Mower Rear Discharge Mower 10
Equipment Mower Rotary Cutter 10
Equipment Oil Tank Waste Oil Tank 10
Equipment Oil Tanker Heated Oil Tanker 15
Equipment Packer Vibrating Packer 15
Equipment Post Pounder Post Pounder 10
Equipment Pressure Washer Pressure Washer w/Boiler 10
Equipment Pressure Water Pressure Washer 15
Equipment Pump Water Pump 15
Equipment Radar Laser Radar 10
Equipment Rock Separator Rock Separator 25
Equipment Saw Chop Saw 10
Equipment Scale Portable Scale 5
Equipment Scale Wheel Load 10
Equipment Scraper Scraper 15
Equipment Seeder Grass Seeder 10
Equipment Seeder Pull-Type Seeder 10
Equipment Skid-steer Skid-Steer 15
Equipment Soil Compactor Soil Compactor 15
Equipment Sprayer Skid Mount Sprayer 10
Equipment Track Hoe Track Hoe 15
Equipment Tractor Mower Tractor 10
I Equipment Tractor Tractor 15
KNEEHILL COUNTY
TANGIBLE CAPITAL ASSETS
l assATCD L\7CFUL LIVID Sub-Class 'Sub-Sub-Class Usefu'affe t4Dt)( t'
Equipment Waterer Portable Cattle Waterer 15
Equipment Welder Wire-Feed Welder 10
Land Improvement Cultural Statue 13
Land Improvement Curbs Concrete 20
Land Improvement Earth Works Burning Pit 20
Land Improvement Earth Works Land Fill Cell 10
Land Improvement Earth Works Ramp&Retaining Wall 20
Land Improvement Electrical Power Hookup 20
Land Improvement Electrical Vehicle Plug-ins 20
Land Improvement Exterior Accessories Ball Court 20
Land Improvement Exterior Accessories Ball Diamond 20
Land Improvement Exterior Accessories Bleachers 20
Land Improvement Exterior Accessories Fire Pits 20
Land Improvement Exterior Accessories Flag Poles 20
Land Improvement Exterior Accessories Goal Posts 20
Land Improvement Exterior Accessories Light Standard 20
Land Improvement Exterior Accessories Park Benches 20
Land Improvement Exterior Accessories Picnic Tables 20
Land Improvement Exterior Accessories Playground Equipment 20
Land Improvement Exterior Accessories Sani-Dump 30
Land Improvement Exterior Accessories Signage 20
Land Improvement Exterior Accessories Urn 20
Land Improvement Fence Barb-Wire&Wood Post 20
Land Improvement Fence Chain-link 20
Land Improvement Fence Wood-Solid 20
Land Improvement Gate Chain-link 20
Land Improvement Gate Metal 20
Land Improvement Paving Asphalt 20
Land Improvement Paving Gravel 20
Land Improvement Paving Interlocking Block 20
Land Improvement Side-walk Concrete 30
Land Improvement Waste Water Septic Tank 20
Land Improvement Waste Transfer Bin Hydraulic 25
Land Improvement Water Water Line 20
Land Improvement Water Water Tap 20
Vehicle ATV ATV 5
Vehicle Equipment Calcium Applicator 10
Vehicle Equipment Enforcement Equipment 10
Vehicle Equipment Generator 10
Vehicle Equipment Salter Stand 15
Vehicle Equipment Spray Truck Equipment 10
Vehicle Equipment Welding Truck Equipment 10
Vehicle Fire Truck Fire Engine 20
Vehicle Fire Truck Fire Pumper 20
Vehicle Fire Truck Fire Rescue 20
Vehicle Fire Truck Fire Rescue 20
Vehicle Fire Truck Fire Squad Command 5
Vehicle Fire Truck Fire Tanker 20
Vehicle SUV Enforcement SUV 5
KNEEHILL COUNTY
TANGIBLE CAPITAL ASSETS
iccass`:.TLD UOf FUL LIVCO Sub-Class Sub-Sub-Class Useful Life IIDi
I Vehicle SUV SUV 5
(Vehicle Trailer Belly Dump 10
(Vehicle Trailer Dry Van Trailer 10
(Vehicle Trailer End Dump 10
!Vehicle Trailer Flat Deck Trailer 10
Vehicle Trailer Pup Trailer 10
Vehicle Trailer Scissor Dump Trailer 10
Vehicle Trailer Tilt Deck Trailer 10
Vehicle Trailer Utility Trailer 10
Vehicle Truck Heavy Duty Truck 10
Vehicle Truck Light Duty Truck 5
Vehicle Truck Medium Duty Truck 5
Vehicle Truck Picker Truck 10
Vehicle Truck Sanding Truck 10
Vehicle Truck Service Truck 5
Vehicle Truck Steam Truck 10
Vehicle Truck Vacuum Truck 10
Vehicle Truck Welding Truck 5
APPENDIX"B"
1600-2nd Street NEt
ZZ� Post Office Box 400
Three Hills, AB TOM 2A0
Phone: (403)443-5541
Toll Free: 1-866-443-5541
Fax: (403)443-5115
www.kneehillcounty.com
Asset Disposal Form
Please attach a copy of the documents supporting the disposition of this asset.
Asset Class: Machinery & Equipment ❑Vehicles ❑Buildings ❑Engineered Structures ❑Land ❑Land Improvements
Asset Sub-Class:
Auto Insurance ID: Equipment Insurance ID: Property Insurance ID:
Asset/Unit Number: License Plate: Year:
Make/Description: Model/Description:
VIN/Serial Number: Asset Location:
Disposal Method: ❑Sale ❑Trade-In ❑Destruction ❑Loss ❑Abandonment Disposition Date:
Sold or Traded to: Traded in for new asset:
Destroyed by: Insurance Claim#: Police File#:
Completed by: Date Completed: Authorized Signature:
Office Use Only
Total Original Cost: Accumulated Amortization: Net Book Value:
Proceeds from Sale: (-) Commission: (-) Expenses: (_) Net Proceeds:
Net Proceeds from Disposal Gain /Loss on Disposal: