My WebLink
|
Help
|
About
|
Sign Out
Home
2001 CAFR
Roseville
>
Budget
>
2001 CAFR
Metadata
Thumbnails
Annotations
Entry Properties
Last modified
8/14/2015 11:41:11 AM
Creation date
8/12/2015 1:43:11 PM
Metadata
There are no annotations on this page.
Document management portal powered by Laserfiche WebLink 9 © 1998-2015
Laserfiche.
All rights reserved.
/
107
PDF
Print
Pages to print
Enter page numbers and/or page ranges separated by commas. For example, 1,3,5-12.
After downloading, print the document using a PDF reader (e.g. Adobe Reader).
View images
View plain text
CITY OF ROSEVILLE <br />NOTES TO FINANCIAL STATEMENTS <br />DECEMBER 31, 2001 <br />NOTE 1- SUMMARY OF SIGNIFICANT ACCOIJNTING POLICIES (Continued) <br />D. Assets, liabilities, and net assets or equity (Continued) <br />5. Capital Assets <br />Capital assets, which include property, plant, equipment and infrastructure assets (e.g., roads, <br />bridges, sidewalks, and similaz items), are reported in the applicable govemmental or business- <br />type activities columns in the government-wide fmancial statements. Capital assets are defined <br />by the City as assets with an initial, individual cost of more than $500 and an estimated useful <br />life in excess of 2 yeazs. Such assets are recorded at historical cost or estimated historical cost if <br />purchased or constructed. Donated capital assets are recorded at estimated fair market value on <br />the date of donation. <br />The costs of normal maintenance and repairs that do not add to the value of the asset or <br />materially extended assets lives are not capitalized. <br />Major outlays for capital assets and improvements are capitalized as projects are constructed. <br />Property, plant and equipment of the City is depreciated using the straight line method over the <br />following estimated useful lives: <br />Assets <br />Buildings <br />Building Improvements <br />Fumiture and Equipment <br />Light Vehicles <br />Heavy Vehicles <br />Fire Trucks <br />Streets and public infrastructure <br />Utility distribution systems <br />6. Compensated absences <br />Years <br />40 <br />25 <br />5 <br />5 <br />10 <br />20 <br />50 <br />80 <br />It is the City's policy to pernut employees to accumulate earned but unused vacation, <br />compensatory time, and sick pay benefits. There is an estimate for a liability for unpaid <br />accumulated sick leave, as employees may receive 320 hours upon retirement only. Other <br />categories of employee separation qualify for no severance. All vacation and compensatory time, <br />and estimated retirement severance are accrued when incurred in govemment-wide, proprietary <br />fund financial statements. A liability for these amounts is reported in governmental funds only if <br />they have matured, for example, as a result of employee resignations and retirements. <br />43 <br />
The URL can be used to link to this page
Your browser does not support the video tag.