Corresponding Policy: See ‘Depreciation of Capital Assets’ policy.
Corresponding Forms: N/A
Process: Figuring out the Depreciation Method for an Asset

Each fixed asset has an asset type code to signify the depreciation method and service life. Each asset type code also refers to the type of personal property or real property so that one has a means for being able to select the appropriate asset type when establishing the asset record on Banner Fixed Assets and for differentiation of assets for various reporting needs.

The Controller establishes asset type codes. Asset type codes contain two digits. The first digit denotes the type of fixed asset (personal property or type of real property).

First Digit	Description	Prefix of Asset Type Description
PERSONAL PROPERTY - NOT CAPITALIZED
A	Expendable Assets (those assets that are not capitalized and therefore not depreciated). These assets are recorded in Banner Fixed Assets only for inventory purposes.	AN
REAL PROPERTY - NON-COMPONENTIZED BUILDINGS
B	Buildings	BLDG
C	Major Improvements to Buildings	BLMI
REAL PROPERTY - COMPONENTIZED BUILDINGS
H	Building Component - 50 year	BLDA
K	Building Component - 23 year	BLDB
O	Building Component - 20 year	BLDC
Q	Building Component - 15 year	BLDD
S	Building Component - 10 year	BLDE
J	Major Improvements to Building Component - 50 year	BLMA
M	Major Improvements to Building Component - 23 year	BLMB
P	Major Improvements to Building Component - 20 year	BLMC
R	Major Improvements to Building Component - 15 year	BLMD
T	Major Improvements to Building Component - 10 year	BLME
REAL PROPERTY – OTHER
I	Infrastructure and Improvements Other Than Buildings	INF/IOTB
L	Land and Land Improvements	LAND
PERSONAL PROPERTY – CAPITALIZED
N	Non-Expendable Assets (those assets that are capitalized and therefore depreciated)	NONEXP

The second digit identifies the type of personal property, building, land, land improvements, improvements other than buildings, or infrastructure.

Building component records also require a "user defined code" to identify the type of building component. Refer to Fixed Assets Building Component Depreciation Policy for additional information.

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