Amortization Template

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					 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
                               Calendar                                                                                  Estimated                   Current                                          Current
             Asset               Year      Month   Opening                                    Date of       Closing       Useful        Opening        Year          Closing   Net Book   Opening       Year          Closing   Net Book
           Description         Acquired   Number   Balance      Additions       Disposals     Disposal      Balance         Life        Balance    Amortization      Balance    Value     Balance   Amortization     Balance     Value
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                10/25/2011                                                                                                                                                                                                                 D:\Docstoc\Working\pdf\63797dbf-af49-4d34-9731-3a6d964b67fa.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          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.

       Enter data in yellow shaded areas             Data may only be entered in the yellow shaded columns. All
                                                     other columns have formulas and are protected.


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 5
 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 5
                      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.

				
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