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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
Personal Property

Personal property is a fixed or movable tangible asset placed into service for operations with the benefits of the asset extending beyond one year from date of acquisition. Improvements or additions made (to existing personal property) are capitalized if they meet the capitalization threshold.

Examples of personal property:

  • Furniture (including modular furniture)
  • Equipment
  • Personal computers
  • Vehicles
  • Boats
  • Aircraft
  • Livestock (capitalization threshold is applied to individual animals)
Glenn Hegar
Texas Comptroller of Public Accounts
Questions? Contact statewide.accounting@cpa.texas.gov
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