4004.1 Shasta Liberty BP Fixed Assets and Capitalization

4004.1 Shasta Liberty BP Fixed Assets and Capitalization

Board Policy 4004.1 outlines procedures for capitalizing, valuing, and depreciating school fixed assets in compliance with financial reporting requirements. It establishes a general capitalization threshold of $5,000 for individual assets with an estimated useful life of 3 or more years, while setting a lower threshold of $2,000 for grouped/networked system assets such as IT equipment and leasehold improvements. The policy mandates straight-line depreciation across specified asset lifetimes: 10–20 years for leasehold improvements, 5–10 years for vehicles, and 3–5 years for IT equipment.