The Gail Borden Public Library District defines capital assets as those assets with an individual cost of more than $5000 and with a useful life of over two years.

Capital assets include land, buildings, improvements, vehicles and equipment.

The Library will record these assets at historical cost or estimated historical cost in the Library’s financial records.

The Library will depreciate these capital assets using the straight-line method, with half year in the first year, with useful lives of 7-40 years.