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CITY OF ROSEVILLE <br />NOTES TO FINANCIAL STATEMENTS <br />DECEMBER 31, 2005 <br />NOTE 1 - SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Continued) <br />D. Assets, liabilities, and net assets or equity (Continued) <br />4. Capital Assets (Continued) <br />Property, plant and equipment of the City are depreciated using the straight -line method over the <br />following estimated useful lives: <br />Assets <br />Years <br />Buildings <br />40 <br />Building Improvements <br />25 <br />Furniture and Equipment <br />5 <br />Light Vehicles <br />5 <br />Heavy Vehicles <br />10 <br />Fire Trucks <br />20 <br />Streets and public infrastructure <br />50 <br />Utility distribution systems <br />80 <br />5. Compensated absences <br />It is the City's policy to permit employees to accumulate earned but unused vacation, compensatory <br />time, and sick pay benefits. There is an estimate for a liability for unpaid accumulated sick leave, as <br />employees may receive up to 320 hours upon retirement only. Other categories of employee <br />separation qualify for no severance. All vacation and compensatory time, and estimated retirement <br />severance are accrued when incurred in government -wide, proprietary fund financial statements. A <br />liability for these amounts is reported in governmental funds only if they have matured, for example, <br />as a result of employee resignations and retirements. <br />51 <br />