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Use of Standard Useful Lives for Fixed Assets

The University maintains a policy of standard useful lives for its fixed assets. These useful lives are incorporated in the SAP fixed asset module. The useful lives are as follows:

 

Buildings and Building Improvements > $100,000 ----------------------------- 40 years

Infrastructure ------------------------------------------------------------- 20 years

Equipment – Digital TV ----------------------------------------------------- 20 years

Leasehold Improvements --------------------------------------------------- 10 years

Equipment ----------------------------------------------------------------- 8 years

Library Books -------------------------------------------------------------- 8 years

Vehicles ------------------------------------------------------------------- 4 years

 

The use of standard useful lives provides consistent calculation of depreciation for items of like asset class.