Controller

ADMINISTRATIVE MEMORANDUM COUNTY OF SAN MATEO SUBJECT: Accounting for Capital Assets NUMBER: A-7 RESPONSIBLE DEPARTMENT: Controller DATE: September 22, 2014 This Administrative Memorandum rescinds and replaces Administrative Memorandum Number A-7 dated August 2, 1993. The Controller’s Office has the responsibility of maintaining records for the County’s capital assets. The definition of a capital asset includes only those items which cost $5,000 or more with a useful life greater than one year. For depreciation purposes, the estimated useful lives for various assets are as follows: Infrastructures = 20 to 50 years Structures and improvements = 50 years Equipment = 3 to 15 years Software = 3 to 5 years When determiningRead More →