Capital Acquisition
|
Effective date |
April 10, 2026 |
|
Archived date |
- |
|
Date last reviewed |
April 10, 2026 |
|
Scheduled review date |
|
|
Replaces and/or amends |
- |
|
Approved by and date |
Hockey Saskatchewan Board of Directors, April 10, 2026 |
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, or no longer has value by Hockey Saskatchewan, the General Manager will make arrangement for disposition to
a. First – Staff
i. The item will be first offered to staff members at no cost or at a nominal cost determined by the General Manager.
b. Second – Board of Directors
i. If no staff member accepts the item within a reasonable timeframe (i.e.: 14 days) the item will be offered to Board of Directors at no cost or at a nominal cost determined by the General Manager.
c. Third – Donation
i. If no staff member or member of the Board of Directors accepts the item, the item will be donated to an organization at the discretion of the General Manager.