CAPITAL ASSETS / AMORTIZATION SCHEDULE
Insert Asset Class here For Fiscal Year Ended > 2006 Enter data in yellow shaded areas
SCHOOL DIVISION March 31 Year End June 30 Year End
Capital Assets Accumulated Amortization Accumulated Amortization Annual Amortization
Calendar Estimated Current Current 2nd Year
Asset Year Month Opening Date of Closing Useful Opening Year Closing Net Book Opening Year Closing Net Book First to 2nd Last
Description Acquired Number Balance Additions Disposals Disposal Balance Life Balance Amortization Balance Value Balance Amortization Balance Value Year Last Year Year
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12/4/2011 D:\Docstoc\Working\pdf\a9860084-09b5-4672-a099-a3b76a1801aa.xls
Instructions for Capital Assets/Amortization Schedule (Assets Other than Buildings)
Attached is the Capital Assets/Amortization Schedule (CAAS) to be used for assets other than buildings (e.g.
equipment, vehicles, buses etc.). You may copy the template in order to have a separate schedule for each
asset category for which you have a G/L account. At a minimum you should have a separate schedule for
buses (bus amortization will be needed for funding purposes), vehicles other than buses, and other capital
assets.
The steps to be followed in completing your CAAS for tangible capital assets other than buildings are:
1. Insert the asset class/category in the upper left hand corner of the schedule and rename the tab.
2. Input the actual cost of all tangible capital assets that:
a) meet or exceed the established threshold for their asset class, and
b) have an unamortized balance at March 31/06 (i.e. the item has a remaining useful life
for accounting purposes).
Click on the Thresholds tab to view the threshold and estimated useful life for each category of
asset.
3. Save the file as a March 31/06 file. This will be the opening figures for the tangible capital assets
and related amortization for the 2006/07comparative figures to be used in the 2007/08 financial
statements for the province.
4. Enter all additions acquired between April 1/06 and June 30/06; enter disposals that occurred up
to June 30/06; and name and save that file. This will be the opening balances for the June 30/07
financial statements which will be completed on a PSAB basis.
5. Click the "Rollover" button to change the fiscal year end date at the top of the schedule to 2007.
The schedule is now ready and you can enter transactions for the current fiscal year.
Please read the "Valuation - Capital Assets Other than Buildings" policy which has been posted to the Summary
Budgeting and Reporting website at http://www.edu.gov.mb.ca/k12/finance/sbr/index.html.
When your CAAS(s) is/are completed to March 31/06 and June 30/06, you will have the opening balances for
each asset category and related accumulated amortization. You will receive further instructions about setting
these amounts up in your G/L in the future.
Please call Heather Colquhoun at 945-5079 if you have any questions about these instructions or the file in
general.
FEATURES OF THE AMORTIZATION SCHEDULE
What this Schedule will do for you:
1) Calculate annual and accumulated amortization using the Province's Half Year Rule.
2) Calculate year-end amortization expense for fiscal years ending March 31 and June 30.
3) Provide Capital Asset balances for March 31 and June 30 fiscal year-ends that should agree with your G/L
Capital Asset Account balance for the same periods once PSAB is fully implemented.
4) Provide Accumulated Amortization balance as of March 31 and June 30 fiscal year-ends that should agree
with your G/L Accumulated Amortization Balance for the same periods once PSAB is fully implemented.
5) Provide Net Book Value as at March 31 and June 30 fiscal year-ends.
The buttons below appear on the screen but not on the print-outs:
Adds a blank row, with the necessary formulas and formatting, immediately before the last
row of the working area .
Inserts a blank row anywhere in the working area. A row with the necessary formulas and
formatting will be inserted above the cursor location.
After completing the schedule for June 30th each year, save the file. Click the "Rollover"
button to update "Fiscal Year Ended" to the new fiscal year and to recalculate all values for
the new fiscal year-ends. The previous year "Closing Balance" is copied to the "Opening
Balance" column. The "Additions" and "Disposal" columns are cleared for current fiscal year
entries.
Deletes the row on which the cursor is placed.
The working area of this worksheet is between row 11 and the last row with the entry "DO NOT INSERT BELOW
THIS ROW" in column A. All rows in this area are included in the worksheet totals and are maintained by using
the buttons provided as described above. Rows after the last row of the working area can be used for any notes the
user wishes to make.
Field Areas for Data Entry:
For Fiscal Year Ended > 2006
Enter data in yellow shaded areas
Data Entry Columns :
Please note that for all Additions, the Calendar Year Acquired and Estimated Useful Life must be entered in
order for amortization to be calculated correctly. For all Additions after June 30/05, the Month Number must
also be entered.
Asset Description - Description of the assets and betterments.
Calendar Year Acquired - Calendar year (not fiscal year) in which asset was acquired (put into use) is entered
in four digit format e.g. "2006". This column and the Estimated Useful Life column are used
to calculate the amount of accumulated amortization and to determine when the asset is fully
amortized. In the case of a building constructed for the school division, the date of substantial
completion determines the year acquired.
Page 3 of 7
Month Number For additions acquired after June 30, 2005, the month the asset is acquired (put into use)
must be entered as a number in this column. This column will determine in which fiscal year
(March 31 or June 30 or both) amortization will begin. This number is not required for
assets acquired prior to June 30/05.
For example, if an asset is acquired in the period January 2006 to March 31, 2006 (month
numbers 1 to 3 inclusive), the first half year amortization will be included in both the June 30
2006 fiscal year-end and March 31, 2006 fiscal year-end
If the asset was acquired in the period April to June 2006 (months 4 to 6), the first half year
amortization is included in the June 30, 2006 fiscal year-end and in the March 31, 2007 fiscal
year-end.
If the asset is acquired after June 30, 2006 (months 7 to 12), the first half year amortization
will be included in the March 31 2007 fiscal year-end and the June 30 2007 fiscal year-end.
Opening Balance Book value (original cost) of assets as of April 1 or July 1.
Additions All initial assets and subsequent acquisitions are entered in this column. Starting with the
2006/07 fiscal year, your General Ledger Asset additions at the end of the fiscal year should
match the total of this column.
Disposals For disposals, the original cost of the asset is entered (as a positive number) in this column
on the same row as the asset being disposed of.
Date of Disposal Year of Disposal is entered in "month/day/year" format, e.g. 12/20/2006.
This column is for information purposes only, to track date of disposal in succeeding
years, and is optional, since this column is not included in any calculation.
Estimated Useful Life - Enter the estimated useful life of the Asset. The estimated useful life is used in the
calculation of the annual amortization. See the Summary Budgeting and Reporting website
http://www.edu.gov.mb.ca/k12/finance/sbr/cap_guide.html
or click on the Thresholds tab for a list of the estimated useful life of various assets.
TOTALS > (Row 9) - these totals should agree with the corresponding balances/entries in your G/L
Page 4 of 7
RES OF THE AMORTIZATION SCHEDULE
amortization using the Province's Half Year Rule.
pense for fiscal years ending March 31 and June 30.
March 31 and June 30 fiscal year-ends that should agree with your G/L
he same periods once PSAB is fully implemented.
balance as of March 31 and June 30 fiscal year-ends that should agree
ation Balance for the same periods once PSAB is fully implemented.
h 31 and June 30 fiscal year-ends.
een but not on the print-outs:
w, with the necessary formulas and formatting, immediately before the last
g area .
ow anywhere in the working area. A row with the necessary formulas and
inserted above the cursor location.
the schedule for June 30th each year, save the file. Click the "Rollover"
"Fiscal Year Ended" to the new fiscal year and to recalculate all values for
ar-ends. The previous year "Closing Balance" is copied to the "Opening
. The "Additions" and "Disposal" columns are cleared for current fiscal year
on which the cursor is placed.
etween row 11 and the last row with the entry "DO NOT INSERT BELOW
his area are included in the worksheet totals and are maintained by using
e. Rows after the last row of the working area can be used for any notes the
2006 This refers to both the school division and the province fiscal
year and must be entered as four digit year (e.g. "2006"). This
is updated automatically to the next fiscal year when you press
the Rollover button. However, you may change this to any
year in order to do “what if” analysis.
areas Data may only be entered in the yellow shaded columns. All
other columns have formulas and are protected.
Calendar Year Acquired and Estimated Useful Life must be entered in
d correctly. For all Additions after June 30/05, the Month Number must
e assets and betterments.
ear (not fiscal year) in which asset was acquired (put into use) is entered
at e.g. "2006". This column and the Estimated Useful Life column are used
amount of accumulated amortization and to determine when the asset is fully
case of a building constructed for the school division, the date of substantial
mines the year acquired.
Page 5 of 7
quired after June 30, 2005, the month the asset is acquired (put into use)
as a number in this column. This column will determine in which fiscal year
e 30 or both) amortization will begin. This number is not required for
prior to June 30/05.
n asset is acquired in the period January 2006 to March 31, 2006 (month
nclusive), the first half year amortization will be included in both the June 30
end and March 31, 2006 fiscal year-end
acquired in the period April to June 2006 (months 4 to 6), the first half year
cluded in the June 30, 2006 fiscal year-end and in the March 31, 2007 fiscal
quired after June 30, 2006 (months 7 to 12), the first half year amortization
n the March 31 2007 fiscal year-end and the June 30 2007 fiscal year-end.
nal cost) of assets as of April 1 or July 1.
and subsequent acquisitions are entered in this column. Starting with the
ar, your General Ledger Asset additions at the end of the fiscal year should
f this column.
e original cost of the asset is entered (as a positive number) in this column
as the asset being disposed of.
is entered in "month/day/year" format, e.g. 12/20/2006.
r information purposes only, to track date of disposal in succeeding
onal, since this column is not included in any calculation.
mated useful life of the Asset. The estimated useful life is used in the
annual amortization. See the Summary Budgeting and Reporting website
ov.mb.ca/k12/finance/sbr/cap_guide.html
hresholds tab for a list of the estimated useful life of various assets.
d agree with the corresponding balances/entries in your G/L
Page 6 of 7
Tangible Capital Assets - Capitalization Guidelines
Asset Description Capitalization Estimated
Threshold Useful Life
Land N/A N/A
Land Improvements (1) 25,000 10 years
Buildings - bricks, mortar and steel $25,000 40 years
Buildings - wood frame $25,000 25 years
School buses $20,000 10 years
Vehicles (2) $10,000 5 years
Equipment (3) $5,000 5 years
Network Infrastructure (4) $25,000 10 years
Computer Hardware, Servers & Peripherals (5) $5,000 4 years
Computer Software (6) $10,000 4 years
Furniture & Fixtures $5,000 10 years
Leasehold Improvements $25,000 Over term of lease
NB: All amortization is on a straight line basis with no residual value.
The Estimated Useful Life above is based on the acquisition of new assets. If used assets are
acquired, a reasonable estimate of the remaining useful life must be determined.
(1) Includes depreciable improvements to land such as parking lots, bus loops, fences, etc.
(2) Includes automobiles, trucks, vans, boats, snowmobiles, motorcycles and ATVs.
(3) Includes all types of equipment & machinery used in day-to-day operations. Also includes ATCO
trailers and mobile homes.
(4) Consists of the costs for fibre optic and wireless networks between sites, including any related
development costs and hardware dedicated to data transmission.
(5) Purchase and installation of personal computers and LAN servers. These are to be capitalized
on a workstation approach (i.e. include all components acquired to create a PC workstation
and/or a LAN system).
(6) Costs to purchase and/or design, develop, modify and install a software application are included
here. Includes all consultant costs, as well as internal labour costs related to employees
dedicated to a software or system development project. Also includes LAN or communications
software. Annual license fees and costs related to maintaining the software are not capitalized.