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Glenn Hegar  ·  Texas Comptroller of Public Accounts

Reporting Requirements for Annual Financial Reports of State Agencies and Universities

Capital Assets

Capital Asset Categories
Library Books & Reference Materials

A library book is generally defined as a literary composition bound into a separate volume and identifiable as a separate copyrighted unit. Library reference materials are information sources other than books that provide information essential to learning or enhance the quality of academic, professional or research libraries.

Examples include:

  • Journals
  • Periodicals
  • Microforms
  • Audio/visual media
  • Computer-based information
  • Manuscripts
  • Maps
  • Documents and similar items

A library may be reported on a composite basis. Additions to a library are reported as a separate component (layer) in SPA. Deletions are made using the FIFO method.

  • All purchases of books and materials for a professional, academic or research library are capitalized if the annual purchases meet the $5,000 threshold.
  • Professional, academic and research library books and materials are depreciated.
  • A book or collection of books deemed to be a historical art or treasure are not depreciated.
  • Library acquisitions are valued at cost or other reasonable basis — deletions are valued at annually adjusted average cost.
  • Books, periodicals and other materials purchased but not used in a library are expensed unless they constitute a capital event.

For more information on capitalization thresholds, see SPA Process User’s Guide – Appendix A – Class Codes.

Glenn Hegar
Texas Comptroller of Public Accounts
Questions? Contact statewide.accounting@cpa.texas.gov
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