Asset Types
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.