There is a cost threshold that assets must reach before they can be classified as capital. There is a cost threshold that assets must reach before they can be classified as capital.
There are set procedures for moving and disposing of capital assets.
Federally purchased equipment has additional rules and requirements to consider.
An annual physical inventory of all capital assets is completed every year.
If you are planning on building a capital asset from purchasing parts which would be considered below threshold, please call our office to plan the tracking of the purchases. All of the purchase orders will need to be charged to the 185XXX account and the totals will be compiled together, forming the new capital asset, valued at a total exceeding the $5,000.00 threshold.
501 E. High Street
Oxford, OH 45056
1601 University Blvd.
Hamilton, OH 45011
4200 N. University Blvd.
Middletown, OH 45042
7847 VOA Park Dr.
(Corner of VOA Park Dr. and Cox Rd.)
West Chester, OH 45069
Chateau de Differdange
1, Impasse du Chateau, L-4524 Differdange
Grand Duchy of Luxembourg
217-222 MacMillan Hall
501 E. Spring St.
Oxford, OH 45056, USA