W. Va. Code R. § 126-85-84

Current through Register Vol. XLI, No. 50, December 13, 2024

Section 126-85-84 - Equipment Depreciation

84.1. Each school must maintain a complete equipment inventory file that lists all non-expendable equipment. The inventory will include:

84.1.1. an assigned inventory number for each piece of equipment;

84.1.2. all equipment on hand for program use that has been purchased with an acquisition cost of $5,000 or more;

84.1.3. serial numbers where applicable;

84.1.4. the month and year of installation;

84.1.5. the month and year of initial depreciation;

84.1.6. the acquisition cost;

84.1.7. life termination date.

84.2. The method described is straight line depreciation in which non-expendable equipment is fully depreciated upon completion of its useful life. Once an inventory file has been established, the total value of equipment will be changed annually only when a new piece of equipment is added, traded, scrapped or fully depreciated.

W. Va. Code R. § 126-85-84