Capital Acquisition
Policy
Capital acquisitions are budgeted expenses.
Procedures
1. Annually the General Manager will coordinate an inventory of all Hockey Saskatchewan assets for the annual financial audit of the Association.
2. In the rare instance that an item is capitalized, it will be amortized using a straight-line or Declining Balance. In this method, the reduction in value of an asset is calculated over a set number of years. For example:
a. Building |
Straight Line |
5% |
b. Equipment |
Declining Balance |
10% |
c. Vehicles |
Straight Line |
20% |
d. Software |
Straight Line |
100% |
e. Computer Hardware |
Straight Line |
33% |
3. Assets are valued at original costs from acquisition schedules, or fair market value where assets are donated.
4. When a Hockey Saskatchewan program has an item (furniture, fixture, supplies), which is no longer needed, the removal of the item should be discussed with the appropriate Manager.
5. The Coordinator/Manager will bring up the item(s) to the General Manager for discussion and disperse the assets to the Hockey Saskatchewan program in need of the item(s).
6. When it has been determined that the item(s) is/are no longer required by Hockey Saskatchewan, the General Manager will make arrangement for disposition.
RETURN TO GOVERNANCE