Core Policy and Procedures Manual - Amendment Summary
January 2011


8.0 Asset Management

8.0 Asset Management - more clarity added on the different types of government assets by providing revised descriptions for tangible capital assets and non-capitalized/expendable assets.

Hyperlinks provided to various government sites and to different sections of CPPM (e.g. tangible capital asset, purchasing handbook, disposal handbook) for easier access to required information on the subject.

Updated names and responsibilities for areas responsible for asset management (Shared Services BC, and Procurement Governance Office).

8.2 General - responsibilities clarified for the safeguarding of assets. This includes items that meet the capitalization threshold which are tracked in Oracle Fixed Assets as well as items under the threshold that are material or attractive.

8.2.1 Government Assets - new sub-section created for Government Assets to provide more clarity on the different types of government assets by reformatting paragraph to distinguish TCA, monies, and all other assets.

8.2.2 Asset Life Cycle - new sub-section created on Asset Life Cycle to provide users the scope of asset management and how it integrates into the planning, budgeting, monitoring, reporting and disposal processes.

8.3.2 Tangible Capital Assets and Other Assets - Tangible Capital Asset definition expanded to provide greater clarity for users.


I.Tangible Capital Assets

I. Tangible Capital Assets - greater clarity and additional guidance provided to help support financial capacity within the community to make decisions on capital asset accounting.

Hyperlinks added throughout the chapter to various government sites and to different sections of CPPM (e.g. tangible capital asset, inventories, capital grants, capitalization tools, land guideline, P3s, useful life) to enable users to access the required information on the subject.

I.2 Acquisition of New Assets - introduced concepts of Whole Asset Approach and Component Approach to provide users information on how to account for acquiring large and complex assets.

New Capitalization decision tree tool created and linked to assist users in decision of when to capitalize.

I.3 Betterments - clarity added on betterment versus maintenance by including examples and a decision tree tool to enable users to make informed decisions.

I.4 Work-In-Progress - Information added on determining capital costs for projects that have multiple phases.

Appendix A: Useful Life and Thresholds - difference between heavy equipment assets and operating equipment assets clarified.


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