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Capital Assets are recorded at historical cost, including ancillary costs (for example: installation or freight) necessary to place the assets in their intended location and condition for use.
The following list shows the cost thresholds and useful lives used by Colorado School of Mines. The estimated useful life of a capital asset is based on Mines’ experience. Other useful life can be used, based on Controller (or delegate) approval. A supporting document or memo should be created to support the alternate useful life.
| Non-depreciable Capital Assets |
Threshold |
| Land |
$1 |
| Construction in Progress |
$50,000 |
| Historical Treasures and Art |
$5,000 |
| Memo Asset |
< $5,000 |
| Depreciable Capital Assets |
Useful Life |
Threshold |
| Land Improvements |
20 years |
$50,000 |
| Building and Improvements |
20-40 years |
$50,000 |
| Leasehold Improvements |
Lesser of 20 years
or term of lease |
$50,000 |
| Equipment |
3-10 years |
$5,000 |
| Computer Equipment |
5-10 years |
$5,000 |
| Vehicles |
5-10 years |
$5,000 |
| Furniture |
5 years |
$5,000 |
| Software |
3-5 years |
$5,000 |
| Library Materials |
10 years |
|
| |
|
|
| Intangible Assets |
|
$50,000 |
| Infrastructure |
|
$500,000 |