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Method 1 for Depreciating Libraries without Class Code 752 Items

FPP N.006

Step Action
1 Set up the new asset structure:
  1. Delete library property number using Disposal Method 27.

    Note: This deletion appears in the adjustment column of the SPA CAAB101 report, Non-Depreciable Assets section, Other Capital Assets line item. If there was any FY05 activity, it has been deleted and does not appear in the adjustment column.

  2. Establish a new library property number with:
    • Class Code 751 (depreciable)
    • component numbers for each fiscal year since 1990 for which data are available
    • in-service dates that reflect original purchase dates (or, when the purchase date is not known, September 1)
    • effective date equal to 9/1/2005 (fiscal 2005 purchases should reflect the actual dates).
2 After establishing the new property number and components, contact your SPA analyst, who will:
  • change the DEPR ENTITY FY on each component to reflect the correct fiscal year.
  • correct the Asset Balance table so the component balances will show up in the adjustment column (with the exception of the FY05 layer; those purchases will appear in the additions column).
  • change the C/I indicator to “C” for any layers below the $5,000 threshold.

Note: After these corrections. the SPA system will automatically calculate depreciation (accumulated and expense) and place it in the appropriate columns on the SPA CAAB201 reports.