CCP 12-15-2003 - Laserfiche WebLink

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. . . fees if the total dollar amount of the fee divided by the number of units or terminals exceeds the threshold, Examples of expenditures to be capitalized as computer software include: . External direct costs of materials and services, i.e., third-party fees for services; . Costs to obtain software frorn third parties; . Travel costs incurred by employees in their duties directly associated with development; . Payroll and payroll"related costs of employees directly associated with or devoting time to encoding, installing or testing; and . Costs to develop or obtain software that allows for access or conversion of old data by new information systems. Note that upgrades and cnhancements should only be capitalized to the extent that they increase the functionality ofthe product. Capital Leased Property includes leased real or personal property, for which ownership of the asset substantially transfers to thc lessee; therefore meeting the criteria for capitalizing as an asset. The cost of the asset is capitalized if the lease agreement meets anyone of four conditions: . It transfers ownership of the property to the lessee at the end of the lease term; . The lease contains a "bargain purchase" option-an option that gives the lessee the right to purchase the asset for a future price less than the fair market value; . The lease term is equal to at least 75% of the asset's estimated economic life; or · The present value ofthe minimum lease payments at the inceptidn of the lease, excluding executdry costs, equals at least 90% of the fait market value of the leased asset at the time the lessee signs the lease. Leases that do not meet any of the above conditions shall be recorded as an operating lease and reported in the notes of the financial statements, SECTION V CAPITAL ASSETS ESTIMATED USEFUL LIFEl Otherirnnrovernents Fencing and gates; 20 years LandscapinQ; 20 years Parkin" lots, driveways, and narkinp barriers; IS years Outdoor sprinkler and irrigation systems; 20 years Recreation arcas and athletic fields, including 15 years bleachers; Golf courses; 20 years Paths and trails; 15 vears Septic systcms; 15 years Swimming pools, tennis courts, basketball 20 years courts, skate parks; Fountains, 20 years Retaining walls. 20 years Outdoor lighting 20 years I Estimated useful life values derived from the Internal Revenue Service Alternative Depreciation System (ADS), 9