Useful Lives for Capital Projects

Overview

RIT defines a “capital project” as one that involves planning, design, construction, modification, and/or restoration / renovation of campus buildings and surroundings with a total cost of $5,000 or more. Note: improvement projects enhance/increase the useful life of the building and/or site. Items not included in the categories on the table below are typically considered maintenance & repairs and are expensed at the time the invoice is paid (i.e., not capitalized), regardless of the total cost. The useful lives indicated were revised effective fiscal year 2004.

Asset Class Useful Life
Buildings:  
Institutional Construction – includes dormitories and additions to existing buildings 45 years
Other – includes modular buildings; Greek Houses; apartments. 30 years
University Commons 40 years
Building Improvements – Interior & Exterior:*  
Annual ITS network refresh 8 years
New & replacement carpeting, new and replacement wall coverings, paint if part of a large renovation project, Tele/data – includes pathways & equipment; Security Card Access Systems, (Kronos clocks are capital equipment); security cameras, sound systems/AV system. 10 years
Room Renovations (except Bathrooms) – includes wiring, interior lighting; acoustical ceilings; fire alarm systems; waterproofing, gutters, foundation, facing; modular wall systems; auto door openers; exhaust piping; equipment wiring; emergency generators; vacuum systems; soil separator; kitchen grills, ADA compliance. 20 years
HVAC and mechanical controls; roofs; signage; outside windows & trim. 25 years
Masonry repairs and replacements; floor coverings (other than carpeting); fire protection systems; bathroom renovations – includes plumbing, fixtures & partitions; elevators; auditorium seating; dock doors; pipe insulation; trench drain & deflectors; display cases prep, oak trim, & donor signage, labs, hydrogen fuel station, energy infrastructure upgrades, dining facility. 30 years
Site Improvements:  
Site Amenities – includes ponds/fountains, signage, benches, receptacles (note: must exceed $5,000), parking lot security camera system 10 years
Asphalt lots, roads and/or walks; athletic fields; pedestrian safety; pool (Residential); vinyl fencing, plaza expansion, catch basins 15 years
Plantings; concrete &/or paver walkways; bus shelters; bleachers; traffic signals; bridges; utility Infrastructure – includes underground services, exterior lighting, gas lines and fire hydrants; pool (institutional); water main; detention pond 30 years

*Electronic Technology such as ceiling mounted AV equipment is considered “capital equipment” (i.e., acquisition cost of $1,500 or more, useful life of one or more years); since it should be purchased on object code 16200 and included in the Fixed Asset system, it is not included on this list. For information about useful lives of capital equipment, refer to the Equipment Useful Lives Document or call Property Accounting at ext. 5- 4933.