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PROCEDURES SPECIFIC TO ASSET TYPE: <br /> I. MODULAR FURNITURE <br /> This section has been added to provide additional guidance as it specifically relates to <br /> modular finrniture. <br /> 1. Modular furniture that meets the capitalization threshold should be capitalized <br /> as equipment/furniture, by lot or by individual unit. <br /> 2. If the modular furniture cannot be separately identified from the total cost of <br /> the building, it is recommended that the modular furniture be capitalized as <br /> part of the building. If you have any questions regarding this, please contact <br /> the Finance Department. <br /> J. REPLACEMENT OF ASSETS 13_Y_SELF-INSURANCE FUND <br /> When a capital asset is severely damaged or destroyed by a covered peril under the <br /> County's self-insurance, and the replacement of that asset has been approved through <br /> funding from the County's self-insurance fund, the new capital asset must be paid for by <br /> the department that owns the asset (that department's budget). Reimbursement must then <br /> be requested by the department to Risk Management. Risk Management will then instruct <br /> the Finance department to reimburse the department for their cost of replacing the asset. <br /> Proper backup is necessary to complete the reimbursement. Also, the asset that was <br /> destroyed must be deleted from that department's inventory. <br /> K. SAND RENOURISHMENT PROJECTS <br /> There are two types of sand renourishment projects that are completed by the County: <br /> dune restoration and beach restoration. Dune restorations are smaller scale projects where <br /> the sand is placed along the dunes themselves as reinforcement due to erosion. Dune <br /> restoration projects average 5-6 cubic yards of sand per foot. Beach restoration projects <br /> are large-scale projects that include an immense amount of design and engineering prior <br /> to construction. Beach restoration projects average 40-80 cubic yards of sand per foot. <br /> A major distinction between beach and dune restoration projects is that dune restoration <br /> projects provide reinforcement to the existing dunes while beach restoration projects <br /> actually create and expand the existing shoreline. The County will expense all dune <br /> restoration projects and capitalize as infrastructure all beach restoration projects. <br /> Beach restoration projects will be depreciated over seven years. <br /> Beach restoration projects have required monitoring costs that must be completed before <br /> and after construction. Preconstruction monitoring costs are typically for 1 year and will <br /> be capitalized with the beach restoration project. Post construction monitoring costs are <br /> typically for 3 years following the construction completion of the beach restoration <br /> project. These monitoring costs are deemed maintenance and therefore will be expensed. <br /> 1R <br />