Capital Outlay Object Class
- 75000 Capital Outlay
This object class includes the payments for acquiring legal ownership to equipment, including the related inbound transportation and installation charges. For definitional purposes, equipment possesses the following characteristics: it is not consumable or expendable; it is movable, even though sometimes attached to other objects of building; it has an expected useful life of longer than one year; and its use does not create a readily observable physical impairment or deterioration. Also, this object class includes the payments to acquire legal ownership to real property, to construct additions to land and buildings, and to equip and furnish buildings with equipment, furniture, furnishings, machinery, and component systems. Thus, this object class includes all expenditures for tangible resources which are subsequently subject to fixed asset controls. Also, it includes library books and journals and artistic creations.
- 75100 Office Equipment
This major object includes the payments for purchasing chairs, desks, tables, cabinets, file cabinets, typewriters, adding machines, bookkeeping machines, calculators, duplicating machines, bookshelves, and other equipment, furniture, and furnishings used in offices, reception areas, lobbies, conference rooms, seminar rooms, and similar areas.
- 75200 EDP Equipment
This major object includes the payments for purchasing automatic or electronic data processing equipment, and includes the cost of central processing units, working storage, control units, peripheral equipment, terminals, and software. Also, it includes the costs of specialized cabinets, racks, and furnishings not usable in non-data processing activities.
- 75300 Educational Equipment
This major object includes the payments for purchasing educational, scientific, medical, laboratory, and classroom equipment and furniture for use in instructional, research, and examination endeavors. It includes the costs of specialized library furnishings, recording studio equipment, audiovisual equipment, surgical equipment, and x-ray equipment. Also, it includes the costs of agricultural equipment when its use is for instructional or research purposes.
- 75400 Motor Vehicles
This major object includes the payments for purchasing motor vehicles and over self-propelled, motorized equipment suitable for general use by the institution. It includes the costs of automobiles, trucks, motor boats, motorized campers, motorcycles, motor scooters, airplanes, and other motor vehicles and self-propelled, motorized equipment suitable for general use.
- 75500 Other Equipment
This major object includes the costs of specialized, motorized equipment, unsuited for general use by the institution, such as construction and maintenance equipment, which are not appropriate for inclusion in major object 75400, and the costs of other equipment, furnishings, and furniture not identified by major objects 75100 through 75300. Also, it includes the payments for purchasing agricultural equipment when its use is for the costs of air conditioners, athletic equipment, fire fighting equipment, forklifts, furnaces, house trailers, lawn mowers, storage sheds, street sweepers, water coolers/fountains, and other items.
- 75600 Library Books & Journals
This major object includes the payments to acquire additions to library and learning resource collections, and includes the costs of books, magazines, newspapers, manuals, journals, manuscripts, musical scores, musical recordings, photographs, maps, films, tapes, records, microfilms, and other literary and artistic objects, materials, and creations. It includes the costs of binding library periodicals, journals, pamphlets, and paperback books. It excludes the cost of these objects if purchased for resale.
- 75700 Land
This major object includes the payments to acquire legal ownership or title to real proper in the name of the State or the institution. This major object is applicable only with capital improvement budgets.
- 75800 Buildings
This major object includes the payments for construction, purchase, additions, alterations, enlargements, expansions, extensions, improvements, modifications, remodeling, renovations, and upgrading of buildings and other roofed and walled structures. Structural change projects should enhance the value of a building, or increase its utility, or lengthen its useful life. It includes the costs of affixed or non-movable component systems in buildings (both initial installations and replacement units), such as electrical, air conditioning, plumbing, communication, heating, and transportation systems. It excludes the costs of initially equipping and furnishing buildings with non-affixed equipment, furniture, furnishings, and machinery; these costs should be included in appropriate equipment accounts, i.e., major objects numbered 75100, 75200, 75300, and 75500. This major object is normally associated with capital improvement budgets, but can be used in operating budgets when the total cost of a qualifying completed project is at least $1,000 and less than $30,000. Project costs of $30,000 or more are chargeable to this major object in a capital improvements budget. Projects which costs less than $1,000 are to be treated as acquisitions of "75500 Other Equipment" (when construction or purchase occur) or as "73500 Repairs and Maintenance" (when the various above cited structural changes occur). All charges to this account are subject to capitalization as fixed assets.
- 75900 Other Capital Outlay
This major object includes the payments for non-equipment capital outlays not identified by major objects numbered 75600, 75700, and 75800. It includes the costs of highways, roads, bridges, parking lots, sidewalks, road signs, building markers, landscaping, sewage systems, television transmission towers, other towers, tanks, wells, fences, water mains and hydrants, and other qualifying items. This major object is normally associated with capital improvement budgets, but can be used in operating budgets when the total cost of a qualifying completed project is less than $30,000. Project costs of $30,000 or more are chargeable to this major object in a capital improvements budget. All charges to this account are subject to capitalization as fixed assets.
