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… of gifts.
For equipment, the University's capitalization policy includes all items with a unit cost of $5,000 or more, and an estimated life greater than
one year. Renovations to buildings, infrastructure, and land improvements that significantly increase the value or extend the useful life of the
structure are capitalized if the related project cost…
https://www.wichita.edu/_archive/services/controller/Accounting/_documents/afr_06.pdf