N.J. Admin. Code § 8:31B-4.59

Current through Register Vol. 56, No. 24, December 18, 2024

Section 8:31B-4.59 - Major Moveable Equipment

(a) Major Moveable Equipment, as defined in N.J.A.C. 8:31B-4.21 are expenses to be included in the costs of each center at historical depreciation costs (for both owned and capitalized leased equipment) and operating lease expenses. Interest expense incurred through purchase or capitalized leases of Major Moveable Equipment is not included with Major Moveable Equipment costs.

1. Leased Major Moveable Equipment is to be capitalized or reported as operating lease costs in accordance with Generally Accepted Accounting Principals. Major Moveable Equipment utilized by more than one functional cost center must be assigned to the using cost centers based on an estimate of each center's utilization. Capitalized repair and installation costs should be included with the cost of the equipment. (See also N.J.A.C. 8:31B-4.32.) Interest associated with capitalized financing purchases or leases is to be excluded and reported as a reconciliation, since the Internally Generated Major Moveable Equipment Replacement Fund is established to provide sufficient funds to replace purchased equipment or meet installment payments for financed equipment (both principal and interest).

Amended by R.1993 d.593, effective 11/15/1993.
See: 25 N.J.R. 3117(a), 25 N.J.R. 5149(a).
Amended by R.2006 d.27, effective 1/17/2006.
See: 37 N.J.R. 2165(a), 38 N.J.R. 667(a).
Added designation (a), substituted "for" for "or", and deleted reference to N.J.A.C. 8:31B-4.66(e); added (a)1.