Depreciation is calculated and accounted for by the straight-line method. The default depreciable lives assigned to capital assets are the following:
| Land |
No Depreciable Life |
| Buildings |
50 years |
| Improvements |
10 - 25 years |
| Furnishings and Fixtures |
10 years |
| Automobiles |
6 years |
| Equipment (non-computer) |
5 - 10 years |
| Computer Equipment |
3 years |
| Software |
3 years |
| Library Books |
25 years |
Asset lives may be adjusted when the asset is determined by a department industry expert to have a life different than the standard.
