CLASSIFYING PROPERTY – MAJOR CLASSES - 8601

(Revised: 07/2023)

Capital assets/property refers to all assets used in governmental operations. This includes both tangible and intangible capital assets/property in the following major classes:

Tangible Assets

• Land
• Buildings and Building Improvements
• Improvements Other Than Buildings (Land Improvements)
• Leasehold Improvements
• Equipment
• Infrastructure
• Construction Work in Progress
• Collections

Intangible Assets

• Computer Software
• Land Use Rights
• Right-to-Use Lease Assets (Land, Buildings, and Equipment)
• Internally Generated Intangible Assets

The accounting and reporting between tangible and intangible assets are treated similarly, although classified separately.

For a definition of each class of property, see SAM Sections  8610.1-8615.4.