General Fixed Assets Account Group
The General Fixed Assets Account Group is maintained to account for land, buildings, improvements, and equipment belonging to governmental funds. Fixed Assets of proprietary and similar trust funds, Higher Education funds, and component units are accounted for within those funds. Infrastructures, including highways, bridges, and rights-of-way are not capitalized.
The General Fixed Assets Account Group is stated at historical cost or estimated historical cost, with no provision made for depreciation.