FY25 - Asset Impairments Questionnaire (GASB 42)

1.1) If "Yes", please give a detailed description of the potential impairment event:*

1.2) Is the decline in service utility significant for this capital asset(s)?*

“Service Utility” is the usable capacity that at acquisition was expected to be used to provide service. It is NOT “Level of Utilization” which is the portion of usable capacity currently being used. The current usable capacity may be less than the original capacity without significant impact.

An example of a significant decline in service utility would be a building fire where the building was not usable across multiple months and all people/ services had to be relocated during restoration.

An example of an insignificant decline in service utility would be if a tornado damaged part of a roof, but services in the building continued as they were able to repair the roof without moving people or services.

In the event, where services and personnel were moved temporarily, during restoration of the asset on a short-term basis (ex. 1-3 weeks). Then accounting will work with your department to determine significance related to decline in service utility directly.

Yes

No

Please describe your reasoning:

If "No", the event is not an impairment. Reevaluate remaining useful life and salvage value.

1.3) Was the event or change in circumstances unexpected?*

Yes

No

If "No", the event is not an impairment. Reevaluate remaining useful life and salvage value.

1.4) Will realizable insurance recoveries for this event make the net impairment gain or loss exceed the $100k/$250k materiality threshold established?*

Yes

No

If "No", no impairment adjustment is required due to materiality threshold.

If "Yes", Asset is impaired. Please complete the additional information requests below.

1.5) What is the restoration or rebuilding cost to date (capital expense in current dollars)?*

Enter the cost of rebuilding the impaired property, this would also include costs to upgrade or add to the asset.

1.5.1) Provide Chartstring detail in the following format: Fund/Program/Dept/Class/OperUnit/Project/PCBus/Activity/Chartfield1*

1.6) What is the restoration or rebuilding cost to date (non-capital expense in current dollars)?*

Enter the total cost of expenditures associated with rebuilding the impaired property, such as expenditures for demolition, site cleanup, or refuse removal.

1.6.1) Provide Chartstring detail in the following format: Fund/Program/Dept/Class/OperUnit/Project/PCBus/Activity/Chartfield1*

1.7) Enter the total estimated cost in current dollars to replace the impaired property:*

1.8) What insurance proceeds, if any, did you receive in the current fiscal year?*

Enter "0", if no proceeds were received in the current fiscal year.

1.8.1) Provide Chartstring detail in the following format: Fund/Program/Dept/Class/OperUnit/Project/PCBus/Activity/Chartfield1

2.1) If "Yes", please give a detailed description of the potential impairment event:*

2.2) Is the decline in service utility significant for this capital asset(s)?*

“Service Utility” is the usable capacity that at acquisition was expected to be used to provide service. It is NOT “Level of Utilization” which is the portion of usable capacity currently being used. The current usable capacity may be less than the original capacity without significant impact.

An example of a significant decline in service utility would be a building fire where the building was not usable across multiple months and all people/ services had to be relocated during restoration.

An example of an insignificant decline in service utility would be if a tornado damaged part of a roof, but services in the building continued as they were able to repair the roof without moving people or services.

In the event, where services and personnel were moved temporarily, during restoration of the asset on a short-term basis (ex. 1-3 weeks). Then accounting will work with your department to determine significance related to decline in service utility directly.

Yes

No

Please describe your reasoning:

If "No", the event is not an impairment. Reevaluate remaining useful life and salvage value.

2.3) Was the event or change in circumstances unexpected?*

Yes

No

If "No", the event is not an impairment. Reevaluate remaining useful life and salvage value.

2.4) Will realizable insurance recoveries for this event make the net impairment gain or loss exceed the $100k/$250k materiality threshold established?*

Yes

No

If "No", no impairment adjustment is required due to materiality threshold.

If "Yes", Asset is impaired. Please complete the additional information requests below.

2.5) What is the restoration or rebuilding cost to date (capital expense in current dollars)?*

Enter the cost of rebuilding the impaired property, this would also include costs to upgrade or add to the asset.

2.5.1) Provide Chartstring detail in the following format: Fund/Program/Dept/Class/OperUnit/Project/PCBus/Activity/Chartfield1*

2.6) What is the restoration or rebuilding cost to date (non-capital expense in current dollars)?*

Enter the total cost of expenditures associated with rebuilding the impaired property, such as expenditures for demolition, site cleanup, or refuse removal.

2.6.1) Provide Chartstring detail in the following format: Fund/Program/Dept/Class/OperUnit/Project/PCBus/Activity/Chartfield1*

2.7) Enter the total estimated cost in current dollars to replace the impaired property:*

2.8) What insurance proceeds, if any, did you receive in the current fiscal year?*

Enter "0", if no proceeds were received in the current fiscal year.

2.8.1) Provide Chartstring detail in the following format: Fund/Program/Dept/Class/OperUnit/Project/PCBus/Activity/Chartfield1

3.1) If "Yes", please give a detailed description of the potential impairment event:*

3.2) Is the decline in service utility significant for this capital asset(s)?*

“Service Utility” is the usable capacity that at acquisition was expected to be used to provide service. It is NOT “Level of Utilization” which is the portion of usable capacity currently being used. The current usable capacity may be less than the original capacity without significant impact.

An example of a significant decline in service utility would be a building fire where the building was not usable across multiple months and all people/ services had to be relocated during restoration.

An example of an insignificant decline in service utility would be if a tornado damaged part of a roof, but services in the building continued as they were able to repair the roof without moving people or services.

In the event, where services and personnel were moved temporarily, during restoration of the asset on a short-term basis (ex. 1-3 weeks). Then accounting will work with your department to determine significance related to decline in service utility directly.

Yes

No

Please describe your reasoning:

If "No", the event is not an impairment. Reevaluate remaining useful life and salvage value.

3.3) Was the event or change in circumstances unexpected?*

Yes

No

If "No", the event is not an impairment. Reevaluate remaining useful life and salvage value.

3.4) Will realizable insurance recoveries for this event make the net impairment gain or loss exceed the $100k/$250k materiality threshold established?*

Yes

No

If "No", no impairment adjustment is required due to materiality threshold.

If "Yes", Asset is impaired. Please complete the additional information requests below.

3.5) What is the restoration or rebuilding cost to date (capital expense in current dollars)?*

Enter the cost of rebuilding the impaired property, this would also include costs to upgrade or add to the asset.

3.5.1) Provide Chartstring detail in the following format: Fund/Program/Dept/Class/OperUnit/Project/PCBus/Activity/Chartfield1*

3.6) What is the restoration or rebuilding cost to date (non-capital expense in current dollars)?*

Enter the total cost of expenditures associated with rebuilding the impaired property, such as expenditures for demolition, site cleanup, or refuse removal.

3.6.1) Provide Chartstring detail in the following format: Fund/Program/Dept/Class/OperUnit/Project/PCBus/Activity/Chartfield1*

3.7) Enter the total estimated cost in current dollars to replace the impaired property:*

3.8) What insurance proceeds, if any, did you receive in the current fiscal year?*

Enter "0", if no proceeds were received in the current fiscal year.

3.8.1) Fund/Program/Dept/Class/OperUnit/Project/PCBus/Activity/Chartfield1

4.1) If "Yes", please give a detailed description of the potential impairment event:*

4.2) Is the decline in service utility significant for this capital asset(s)?*

“Service Utility” is the usable capacity that at acquisition was expected to be used to provide service. It is NOT “Level of Utilization” which is the portion of usable capacity currently being used. The current usable capacity may be less than the original capacity without significant impact.

An example of a significant decline in service utility would be a building fire where the building was not usable across multiple months and all people/ services had to be relocated during restoration.

An example of an insignificant decline in service utility would be if a tornado damaged part of a roof, but services in the building continued as they were able to repair the roof without moving people or services.

In the event, where services and personnel were moved temporarily, during restoration of the asset on a short-term basis (ex. 1-3 weeks). Then accounting will work with your department to determine significance related to decline in service utility directly.

Yes

No

Please describe your reasoning:

If "No", the event is not an impairment. Reevaluate remaining useful life and salvage value.

4.3) Was the event or change in circumstances unexpected?*

Yes

No

If "No", the event is not an impairment. Reevaluate remaining useful life and salvage value.

4.4) Will realizable insurance recoveries for this event make the net impairment gain or loss exceed the $100k/$250k materiality threshold established?*

Yes

No

If "No", no impairment adjustment is required due to materiality threshold.

If "Yes", Asset is impaired. Please complete the additional information requests below.

4.5) What is the restoration or rebuilding cost to date (capital expense in current dollars)?*

Enter the cost of rebuilding the impaired property, this would also include costs to upgrade or add to the asset.

4.5.1) Provide Chartstring detail in the following format: Fund/Program/Dept/Class/OperUnit/Project/PCBus/Activity/Chartfield1*

4.6) What is the restoration or rebuilding cost to date (non-capital expense in current dollars)?*

Enter the total cost of expenditures associated with rebuilding the impaired property, such as expenditures for demolition, site cleanup, or refuse removal.

4.6.1) Provide Chartstring detail in the following format: Fund/Program/Dept/Class/OperUnit/Project/PCBus/Activity/Chartfield1*

4.7) Enter the total estimated cost in current dollars to replace the impaired property:*

4.8) What insurance proceeds, if any, did you receive in the current fiscal year?*

Enter "0", if no proceeds were received in the current fiscal year.

4.8.1) Provide Chartstring detail in the following format: Fund/Program/Dept/Class/OperUnit/Project/PCBus/Activity/Chartfield1

5.1) If "Yes", please give a detailed description of the potential impairment event:*

5.2) Is the decline in service utility significant for this capital asset(s)?*

“Service Utility” is the usable capacity that at acquisition was expected to be used to provide service. It is NOT “Level of Utilization” which is the portion of usable capacity currently being used. The current usable capacity may be less than the original capacity without significant impact.

An example of a significant decline in service utility would be a building fire where the building was not usable across multiple months and all people/ services had to be relocated during restoration.

An example of an insignificant decline in service utility would be if a tornado damaged part of a roof, but services in the building continued as they were able to repair the roof without moving people or services.

In the event, where services and personnel were moved temporarily, during restoration of the asset on a short-term basis (ex. 1-3 weeks). Then accounting will work with your department to determine significance related to decline in service utility directly.

Yes

No

Please describe your reasoning:

If "No", the event is not an impairment. Reevaluate remaining useful life and salvage value.

5.3) Was the event or change in circumstances unexpected?*

Yes

No

If "No", the event is not an impairment. Reevaluate remaining useful life and salvage value.

5.4) Will realizable insurance recoveries for this event make the net impairment gain or loss exceed the $100k/$250k materiality threshold established?*

Yes

No

If "No", no impairment adjustment is required due to materiality threshold.

If "Yes", Asset is impaired. Please complete the additional information requests below.

5.5) What is the restoration or rebuilding cost to date (capital expense in current dollars)?*

Enter the cost of rebuilding the impaired property, this would also include costs to upgrade or add to the asset.

5.5.1) Provide Chartstring detail in the following format: Fund/Program/Dept/Class/OperUnit/Project/PCBus/Activity/Chartfield1*

5.6) What is the restoration or rebuilding cost to date (non-capital expense in current dollars)?*

Enter the total cost of expenditures associated with rebuilding the impaired property, such as expenditures for demolition, site cleanup, or refuse removal.

5.6.1) Provide Chartstring detail in the following format: Fund/Program/Dept/Class/OperUnit/Project/PCBus/Activity/Chartfield1*

5.7) Enter the total estimated cost in current dollars to replace the impaired property:*

5.8) What insurance proceeds, if any, did you receive in the current fiscal year?*

Enter "0", if no proceeds were received in the current fiscal year.

5.8.1) Provide Chartstring detail in the following format: Fund/Program/Dept/Class/OperUnit/Project/PCBus/Activity/Chartfield1

6.1) If "Yes", please give a detailed description of the potential impairment event:*

6.2) Is the decline in service utility significant for this capital asset(s)?*

“Service Utility” is the usable capacity that at acquisition was expected to be used to provide service. It is NOT “Level of Utilization” which is the portion of usable capacity currently being used. The current usable capacity may be less than the original capacity without significant impact.

An example of a significant decline in service utility would be a building fire where the building was not usable across multiple months and all people/ services had to be relocated during restoration.

An example of an insignificant decline in service utility would be if a tornado damaged part of a roof, but services in the building continued as they were able to repair the roof without moving people or services.

In the event, where services and personnel were moved temporarily, during restoration of the asset on a short-term basis (ex. 1-3 weeks). Then accounting will work with your department to determine significance related to decline in service utility directly.

Yes

No

Please describe your reasoning:

If "No", the event is not an impairment. Reevaluate remaining useful life and salvage value.

6.3) Was the event or change in circumstances unexpected?*

Yes

No

If "No", the event is not an impairment. Reevaluate remaining useful life and salvage value.

6.4) Will realizable insurance recoveries for this event make the net impairment gain or loss exceed the $100k/$250k materiality threshold established?*

Yes

No

If "No", no impairment adjustment is required due to materiality threshold.

If "Yes", Asset is impaired. Please complete the additional information requests below.

6.5) What is the restoration or rebuilding cost to date (capital expense in current dollars)?*

Enter the cost of rebuilding the impaired property, this would also include costs to upgrade or add to the asset.

6.5.1) Provide Chartstring detail in the following format: Fund/Program/Dept/Class/OperUnit/Project/PCBus/Activity/Chartfield1*

6.6) What is the restoration or rebuilding cost to date (non-capital expense in current dollars)?*

Enter the total cost of expenditures associated with rebuilding the impaired property, such as expenditures for demolition, site cleanup, or refuse removal.

6.6.1) Provide Chartstring detail in the following format: Fund/Program/Dept/Class/OperUnit/Project/PCBus/Activity/Chartfield1*

6.7) Enter the total estimated cost in current dollars to replace the impaired property:*

6.8) What insurance proceeds, if any, did you receive in the current fiscal year?*

Enter "0", if no proceeds were received in the current fiscal year.

6.8.1) Provide Chartstring detail in the following format: Fund/Program/Dept/Class/OperUnit/Project/PCBus/Activity/Chartfield1

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Asset Identification

Impairment Questions