Capital Assets Policy

Approved by the Kingston Library Board on July 23, 2009

Purchased Capital Assets are recorded at cost at the time of acquisition.Donated Capital Assets are recorded at estimated fair market value at the timethey are received.

Capitalization thresholds (the dollar value above which asset acquisitions areadded to the capital asset accounts), depreciation methods, and estimateduseful lives of capital assets reported in the Library statements are as follows:

Capitalization Threshold (per item)	Depreciation Method	Estimated Useful Life
Land Improvements	$500	Straight Line 10-30 years
Buildings and Improvements	$500	Straight Line 10-40 years
Furniture and Equipment	$500	Straight Line 3-10 years

Annual library resource purchases shall be capitalized and depreciated annually over their estimated useful life.