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F.  Computer Software           3-5 years

G.  Equipment Systems Comprised of Several Components                                                        --

H.   Livestock                                                                                                                               --

I.    Leases                                                                                                                                    --            

A.  All Equipment and Chattel Property not specifically Defined in Other Classifications

This classification includes furniture, apparatus, rolling stock (except as listed in “B” and “C”), machinery, implements, and tools used in classrooms, laboratories, offices, shops, production operations, farm operations, storerooms, and auxiliary enterprises providing such equipment has an economic useful life of more than one year and a unit cost of $5000 or more.  

1.Each campus has the latitude to identify sensitive items of a lesser value for purposes of control or capitalization as deemed appropriate.

2.Items of lesser value may be capitalized when required by a regulatory agency.

For inventory purposes, all items subject to the capitalization policy should be carried on the equipment inventory maintained by each campus.

B.Autos, Vans and Other Passenger Vehicles

Cost includes net invoice price plus any dealer preparation cost and local delivery.

C.Trucks, Truck Bodies, Busses, and Heavy Duty Cargo Vehicles

Costs--same as above.

D.Computer Mainframe Installation Equipment

This equipment should be classified separately due to the rapid obsolescence.  Cost includes net invoice price plus inbound transportation and installation costs.  This equipment category includes assets having a useful life of more than one year and a unit cost of $5,000 or more.

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