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Reporting Requirements for Annual Financial Reports of State Agencies and Universities

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Reporting Requirements for Annual Financial Reports of State Agencies and Universities

Capital Assets

Capital Asset Categories
Facilities & Other Improvements

Facilities are assets (other than general use buildings) that are built, installed or established to enhance the quality or facilitate the use of land for a particular purpose. Other improvements are enhancements made to a facility or to the land.

Examples of expenditures to be capitalized as facilities and other improvements include:

  • Fencing and gates
  • Landscaping
  • Parking lots/driveways/parking barriers
  • Outside sprinkler systems
  • Recreation areas and athletic fields (including bleachers)
  • Golf courses
  • Paths and trails
  • Septic systems
  • Stadiums
  • Swimming pools, tennis courts and basketball courts
  • Fountains
  • Plazas and pavilions
  • Retaining walls