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- General Ledger Account Definitions
- 66xxxx: Plant and Equipment Acquisitions to be Capitalized
66xxxx: Plant and Equipment Acquisitions to be Capitalized
Plant and equipment refers to tangible property that has an estimated life of at least two years. If the cost of an item is $5,000 or more, it is capital property and should be charged to this series of G/L accounts.
If the item has an estimated life of at least two years, but costs less than $5,000, charge a G/L account in the 67xxxx, Plant and Equipment - Minor Acquisitions series.
For further information on Duke's capitalization policy, refer to GAP 200.050, Plant & Equipment Capitalization. Any further questions should be directed to the Director of Plant Accounting.
II. G/L ACCOUNT DEFINITIONS
- the purchase price of land, including any buildings acquired with the land that is not intended for use.
- expenditures for demolishing any buildings which were acquired with land to make the land available for new construction or other use. Any salvage value resulting from the sale of such buildings and related building facilities should be credited to this G/L account.
- the cost of perpetual easements or rights of way.
- fees for surveys, title searches, geological opinions, contamination testing, legal, and other expert services incidental to the acquisition of land which is purchased on the basis of such data or services.
- expenditures for the initial clearing and grading of land (see exclusions listed below).
This G/L account SHOULD NOT be charged with:
- expenditures relating to the disposal of refuse (charge appropriate expense G/L account).
- fees for surveys, title searches, etc., applicable to land which was NOT purchased (charge appropriate expense G/L account).
- the cost of easements or rights of way which are limited as to time (charge appropriate G/L account for deferred charges).
- expenditures for initial landscaping, including initial seeding and top soil, initial sodding, trees and shrubs, and artificial lakes and dams (charge G/L account 660200).
- expenditures (net of any salvage value received) for demolishing a building or structure because it is a nuisance or to remove the facility from the property tax roll (charge appropriate expense G/L account).
- roads, sidewalks, bridges, tunnels, trestles, parking lots, guard railings, etc. intended for pedestrian, vehicle or storage use; also, the first cost of metal standards, poles, brackets, fixtures and wiring for outside lighting of these facilities.
- fences, including lighting fixtures and wiring which are an integral part thereof.
- applicable architectural engineering, drafting and other expert services; and the cost of clearing, excavating, filling and grading applicable to the construction of facilities charged to this G/L account.
- expenditures for initial landscaping - including initial seeding and top soil; initial sodding, trees and shrubs; and artificial lakes, dams, dikes and retaining walls.
- expenditures for reseeding or resodding (charge G/L account 680200).
- expenditures for repairing or repaving roads, sidewalks, etc. (charge G/L account 680200).
- bridges, tunnels, trestles and ducts used exclusively in connection with outside piping and wiring system (charge G/L account 662400).
- expenditures for parking apparatus such as ticket gates (charge G/L account 662100).
- expenditures under $5,000 (charge G/L account 670200).
Includes the following Category Types of building construction:
Construction in which bearing walls, column beams, floor and roof deck are of non-combustible material and are protected so as to have a fire resistance not less than Type I construction as specified by the N.C. State Building Code. Exterior walls are a minimum of 12" thick and are of solid stone material. See Note A below.
This type construction is the same as Type I except exterior walls are precast stucco panels with metal studs and gypsum wallboard back up. See Note A below.
Construction in which the exterior bearing and non-bearing walls and partitions, floors, and roofs and their supports are wholly or partly of wood. The exterior finish of the outside walls is brick veneer. See Note A below.
This type of construction is the same as CATEGORY III except the exterior finish of the outside wall is wood or metal. See Note A below.
Greenhouses, tool sheds, fuel storage facilities, etc. See Note A below.
This type construction is the same as Category I except exterior walls are a minimum of 12" thick of solid brick, brick and concrete masonry units or precast concrete panels with either metal stud and gypsum wallboard back up or concrete masonry units back-up. See Note A below.
Construction in which the exterior bearing and non-bearing walls and bearing partition of interior walls are of non-combustible material and have fire resistance not less than Type V construction as specified by the N.C. State Building Code. Floor, roof and criteria framing are wholly or partly of wood. See Note A below.
NOTE A: The Building G/L accounts above SHOULD NOT be charged with the following:
- extraordinary cost incidental to the erection of a building, such as those due to strike, flood, fire or other casualty (charge appropriate expense G/L account).
- cost of incomplete construction that is subsequently abandoned, including cost of demolition of such partially completed construction and related clean up.
- expenditures for demolishing a building or structure or removing the facility from the property tax roll (charge appropriate G/L account).
- elevators, including functionally related equipment which is essential to their operation.
- heating, ventilating and air conditioning equipment, including peripheral equipment.
- electrical machinery and equipment used for the generation, conversion, transmission and distribution of electrical energy.
- parking apparatus.
- finish ceiling, including soundproofing.
- finish flooring, including tile, composition, etc.
- finish roofing (excluding bare roof chargeable to the 661000 G/L account).
- interior doors (exterior doors use G/L account 661000).
- partitioning (other than load bearing which is chargeable to the 661000 G/L account).
- rain spouts and gutters.
- platforms and docks.
- built-in cabinets, shelves, furniture, etc.
- wiring, conduit, lighting fixtures, video cable, data lines, telephone lines, transformers, panel boards,
- control and safety devices, and other portions of electrical distribution systems from points of entry into
- building, to and including, main service lines and to point of terminal outlet.
- piping systems (water, hydraulic, steam, air, gas, oil, etc.) from points of entry into building, to and including, main service lines to point of terminal outlet. Also includes related pumps, valves, control devices, etc.
- plumbing and toilet facilities, including all piping, hot water tanks, heat exchangers.
- sprinkler and fire protection systems within buildings, including pumps, control devices, hose, water storage tanks located on top of buildings, piping for outside hose connections, etc.
- waste and drain piping including pumps, control devices, etc. within a building to the point of exit.
- wiring for fire alarms, radio and public address systems.
- telephone systems (charge appropriate Tele/Video G/L account).
- main distribution lines (gas, steam, electricity, etc.) which merely pass through buildings to provide service to other buildings (charge G/L account 662400).
- water, steam, air, gas, drainage and waste piping; fittings, pumps, control devices, catch basins, hydrants, manholes, etc.
- electrical distribution systems, including steel substation poles, towers, pole transformers, control and safety device brackets, insulators, wires, cables, etc.
- bridges, tunnels, trestles, and ducts used for outside piping and wiring.
- outside storage tanks, towers, sprinkler loops, etc.
- sewage and waste disposal facilities.
- telephone trunk lines (charge the appropriate Tele/Video G/L account).
- poles, fixtures or wiring for outside lighting of roads, etc. (charge G/L account 660200).
- spare parts purchased with or subsequent to the acquisition of the ships and vessels and intended for replacement or repair purposes (charge G/L account 684000).
- expenditures under $5,000 (charge G/L account 674000).
- The cost of license and registration fees, batteries, tires, or other repair/replacement parts purchased other than as an initial part of the vehicle (charge appropriate expense G/L account).
- Any capital expenditures made after the initial purchase of the vehicle such as toolboxes, large racks, etc. (charge G/L account 665000 or 675700).
These G/L accounts SHOULD NOT be charged with:
- Items with an inherent intrinsic value that is not expected to decline with the passage of time (charge G/L account 666800).
- Books or reference works acquired by University departments which are not intended to be made available to Duke as a whole (charge G/L account 646100).