Uniform Code of Accounts Amendments to capture

Tangible Capital Asset Expenditures until full Implementation

A number of boards have requested suggestions on what account codes to use for expenditures in 2007/08 that will be capitalized upon implementation of full accrual accounting in 2008/09.

The following suggested treatment assumes that DSB’s will continue to use their current accounts codes for purchases below the capitalization thresholds and will segregate purchases into the new accounts when they meet the capitalization thresholds outlined in the “SCHOOL BOARD & SCHOOL AUTHORITY TANGIBLE CAPITAL ASSETS PROVINCIAL ACCOUNTING POLICIES & IMPLEMENTATION GUIDE”.

Tangible Capital Asset Class / Old Object Code / New Object Code
Pooled Classes
Furniture (10 yrs) / 551 / 561
Equipment (5 yrs) / 551 / 562
Equipment (10 yrs) / 551 / 563
F&E* – First time equipping (10 yrs) / 551 / 569
Computer Hardware (5 yrs) / 552 / 565
Computer Software (5 yrs) / 661 / 566
Portable Structures (20yrs) / 759 / 582
Non-Pooled
Equipment (15 yrs) / 551 / 564
Vehicles gvwr < 10,000 pounds (5 yrs) / 554 / 567
Vehicles gvwr >= 10,000 pounds (10 yrs) / 554 / 568
Buildings (40 yrs) / 759 / 580
Buildings (20 yrs) / 759 / 581
Land / 758 / 585
Land Improvements (15 yrs) / 762 / 586
Construction in Progress / 570
Pre-Acquisition/ Pre-Construction Costs / 571

* F&E = furniture & equipment

gvwr = gross vehicle weight rating

Boards have probably already determined a way to distinguish between expenditures on various capital programs but the following function codes are suggested:

72 – School Renewal

73 – New Pupil Places

78 – Good Places to Learn

79 – Primary Class Size

67 – Growth Schools

68 - Prohibitive to Repair

69 - Capital Transition Projects

In 2008/09, DSB’s may choose to continue to use these accounts to collect amounts spent on capital during the year and then make a journal entry to transfer them to the appropriate asset account on the Statement of Financial Position.

Suggested ASSET Accounts for 2008/09

Function Codes:

Use with function code 65 or 75 (Fund no longer matters)

Object Codes:

881 – Gross Book Value

882 – Accumulated Amortization

It is suggested that you may wish to use the Program Codes to designate Asset Class:

Tangible Capital Asset Class / Program Code
Pooled Classes
Furniture (10 yrs) / 861
Equipment (5 yrs) / 862
Equipment (10 yrs) / 863
F&E – First time equipping (10 yrs) / 869
Computer Hardware (5 yrs) / 865
Computer Software (5 yrs) / 866
Portable Structures (20 yrs) / 882
Non-Pooled
Equipment (15 yrs) / 864
Vehicles gvwr < 10,000 pounds (5 yrs) / 867
Vehicles gvwr >= 10,000 pounds (10 yrs) / 868
Buildings (40 yrs) / 880
Buildings (20 yrs) / 881
Land / 885
Land Improvements (15yrs) / 886
Construction in Progress / 870
Pre-Acquisition/Pre-Construction / 871

PLEASE NOTE: For continuity schedule purposes and for consolidation, boards will be required to report the following supplementary information for each class of asset relating to the Gross Book Value and Accumulated Amortization

  • Opening Balance
  • Additions
  • Transfers to/from CIP
  • Disposals and,
  • Valuation Adjustments

Suggested Revenue/Expense Objects for 2008/09

Gain/Loss on Sale of TCA038

PLEASE NOTE: For continuity schedule purposes and for consolidation, boards will be required to report the following supplementary information for each class of asset. The following accounts are provided as an optional alternative to recording the net proceeds in the above account.

Proceeds on Sale038

Cost of Asset Sold039

Acc. Amortization of TCA Sold040

Amortization Expense - 780

It is suggested that you may wish to use the Program Codes to designate Asset Class for each of these revenue/expense items.