POLICY TITLE: Capital Assets and Capital Planning

APPLIES TO: All Divisions and Departments

ADMINISTRATIVE AUTHORITY: Division of Finance and Administration Chief Financial Officer (CFO)

APPROVED BY: Kentucky State University Board of Regents

EFFECTIVE DATE: August 8, 2025

NEXT REVIEW DATE: August 8, 2028

This policy governs the definition, capitalization, planning, management, and disposal of Kentucky State University's (KSU) capital assets. Its purpose is to ensure proper stewardship of university resources, accurate financial reporting, and compliance with applicable accounting standards. All KSU departments are responsible for the care, maintenance, and appropriate use of all long-lived assets in their custody.

A building is a structure that is permanently attached to the land with a foundation, has a roof, is partially or completely enclosed by four (4) walls, has one (1) utility other than electricity, and is not transportable or moveable. A building must also be used for housing people, animals, plants, or equipment.