A Comptroller-controlled asset has a value less than the capitalization threshold established for that asset type, but due to its high-risk nature, it is required to be tracked. Controlled assets are not reported in an agency's AFR. For a list of Comptroller-controlled assets, see SPA's Controlled Property Class Codes.

A locally controlled asset is an asset not capitalized nor listed on the Comptroller's controlled asset list but is tracked and accounted for as mandated by agency management.

Controlled at any value

• Guns
• Smartphones, Tablets, and Other Handheld Devices
• Desktop Computers, Laptops, and Servers
• Aerial Drone

Controlled if the acquisition cost is $500.00 to $9,999.99

• Stereos, Sound Systems, and Other Audio Equipment
• TVs, Disc Players, and VCRs
• Portable Cameras or Camcorders
• Projectors

If the acquisition cost exceeds $9,999.99, any of the above-listed categories would be classified and reported as a capital asset.

A capitalized asset is an asset that has a value equal to or greater than the capitalization threshold established for that asset type. Capitalized assets are reported in an agency's annual financial report and are subject to depreciation.

Types of Capital Assets

Real Property

• Land and land improvements
• Buildings and building improvements
• Facilities and other improvements
• Infrastructure
• Construction in progress (real property)

Personal Property

• Furniture and equipment
• Vehicles, boats, and aircraft
• Other capital assets
  • Library books and materials
  • Works of art and historical treasures
  • Intangible assets
  • Leasehold improvements
  • Livestock

• Intangible capital assets
  • Land use rights
  • Computer software
  • Other intangible capital assets
• Construction in progress (personal property)

For a full list of capital and asset categories, visit the Comptroller's page here. SPA Class Codes

note:

In fiscal 2024 and before, if a single unit's acquisition cost was $5,000 or greater, it would be reported as a capitalized item.

In fiscal 2025 and onward, if a single unit's acquisition cost is $10,000 or greater, that item should be reported as a capitalized item.

Report and record capital assets at their historical costs. Historical costs include: 

• Vendor's invoice (plus the value of any trade-in or educational allowance, if reflected on the invoice) 
• Sales tax 
• Initial installation cost (excluding in-house labor) 
• Modifications 
• Attachments 
• Accessories or apparatus necessary to make the asset usable and render it into service 
• Ancillary charges (such as freight and transportation charges, site preparation costs, and professional fees) 

Incidental charges (such as extended warranties, maintenance agreements, additional parts, or consumable items) are no longer considered part of the asset cost.