Non current asset categories basics

University asset classes:

  1. Land, buildings and infrastructure – land, campus buildings, dwellings and site infrastructure.
    1. Maintained by separate register (F&BS).
    2. Controlled by Capital Management Plan (F&S).
    3. Depreciation – YES.
    4. Revalued every three years.
  2. Plant and equipment – office equipment, research equipment, teaching equipment, computer equipment, motor vehicles, other equipment, musical instruments.
    1. Maintained within subsidiary ledger – ESP Asset Management System (ESP).
    2. Depreciation – YES.
    3. Capitalisation Threshold >=$5,000.
    4. Revalued – NO.
  3. Artworks and antiquities
    1. Maintained within subsidiary ledger – ESP.
    2. Depreciation – NO.
    3. No capitalisation threshold. 
  4. Rare library materials
    1. All books are expensed in the first instance.
    2. Certain books are subsequently recategorised as rare library materials and capitalised on a valuation (or deemed cost) basis.
    3. Depreciation – NO.
    4. No capitalisation threshold. SIS manage this process and maintain the catalogue of rare library materials.