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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
Land & Land Improvements

Land improvements consist of site preparation and site improvements (other than buildings) that ready the land for use. The costs associated with improvements to land are added to the cost of the land. All acquisitions of land and land improvements are capitalized. Land and land improvements are inexhaustible assets and do not depreciate over time.

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