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and sprinklers should be excluded from this account and capitalized in the equipment accounts (machinery, implements, and tools).  Maintenance of dams and reservoirs, including dredging, should be charged to expense.

IV.  EQUIPMENT AND CHATTEL PROPERTY

Equipment items acquired by the University will be capitalized at net invoice price (or appraised value if acquired by gift) plus freight and installation charges.  For purposes of this policy, equipment and chattel property is defined by the following classifications.

Expected/Depreciable Life

A.  All equipment and chattel property not specifically defined in other classifications2-10 years

B.  Autos, vans, and other passenger vehicles used in motor pool

(State Classification Codes 3001-3099), excludes codes listed under C. 3 years

C.  Heavy duty trucks, buses and cargo vehicles

(State Classification Codes 3022, 3043, 3050, 3057, 3064, 3071, 3085)8 years

D.  Computer mainframe installation equipment

(State Classification Codes 1801, 1855-1894, 1927, 1975, 1981, 1993)5 years

E.  Personal Computers 3 years

(State Classification Codes 1807-1949, 1915, 1921, 1933-1969)

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