7.11 – Capital Asset Depreciation and Replacement Schedule
Standard: The agency shall have an established depreciation and replacement schedule for all park and recreation capital assets including buildings, facilities, and equipment that have predictable life cycles. Schedules should identify the useful life of each element and the associated costs of replacement. Capital asset depreciation and replacement schedules, including projected costs of replacement, should be reflected in the agency’s financial plan.
Suggested Evidence of Compliance: Provide the capital asset depreciation and replacement schedule.
Narrative:
Westchester County does not apply capital asset depreciation however real property depreciation and replacement is addressed through PRC’s ongoing and yearly updated Five-Year Capital Projects Program. Equipment requests for both new and replacement equipment are submitted by field staff to Directors as part of the budgetary process and are approved on a case-by-case basis by senior management. County vehicles are replaced in accordance with annual inspections.