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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 Accounting
Recording Capital Asset Acquisitions

Run the SPA CAAB 101S report on the Daily Generation of SPA Ad Hoc Reports (FPP N.009) (login required) to determine the amount of assets acquired during the fiscal year. The SPA CAAB 101S report presents the following information for all capital assets by AFR category and depreciable indicator:

This report is sorted by and contains:

The additions column of the SPA CAAB 101S report must match the new assets added to an agency’s property ledger and needs to be recorded in USAS. Capital outlay plus donations for fund type 11 also need to equal the additions column on the CAAB 101S report.

Business-Type Activities (Fund Type 05) and
Component Units (Fund Type 15)

The COBJs are not a one-to-one ratio for asset class type. For more information, see Capital Asset Object Codes. The fund used corresponds to the fund where assets are recorded. The general ledger (GL) accounts used are:

Seq No Batch Type Doc Type Eff Date Fin Agy TC AY PCA COBJ Amount R Fund Input GL
To Record the Acquisition of Capital Assets
(1) 5 U 0832CY XXX 633 CY 99999 XXXX $ XX.XX   XXXX XXXX

Accounting effect of above entries:

Debit Credit
*This entry assumes that the original purchase was recorded to cash expenditure with the capital outlay object code in USAS.
(1) To Record the Acquisition of Capital Assets    
  XXXX General Ledger Account for Asset Being Added $ XX.XX  
  *5600 GAAP Expenditure Offset   $ XX.XX

Governmental Activities — Basis Conversion (Fund Type 11)

The COBJs are not a one-to-one ratio for asset class type. For more information, see Capital Asset Object Codes. Record the transaction to the capital asset adjustment fund (fund type 11). The GL accounts used are:

Seq No Batch Type Doc Type Eff Date Fin Agy TC AY PCA COBJ Amount R Fund Input GL
To Record the Acquisition of Capital Assets
(1) 5 U 0832CY XXX 513 CY 99999 XXXX $ XX.XX   XXXX XXXX

Accounting effect of above entries:

Debit Credit
(1) To Record the Acquisition of Capital Assets    
  XXXX General Ledger Account for Asset Being Added $ XX.XX  
  5650 BC Expenditure Control   $ XX.XX