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…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 exceeds $100,000. Routine repairs and…
https://www.wichita.edu/_archive/services/controller/Accounting/_documents/afr_09.pdf