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7-Month Tangible Capital Asset Activities Report
OASBO Finance Committee Workshop Transfer
Payments Financial Reporting Branch March 2008
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PURPOSE

• Overview of the 7-month capital activities report
• Changes
• Commonly made errors
• Things that boards should be looking at
• Specified Procedures Report
• Filing requirements

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Changes to Package

• Summary Page
• See Excel Page 1
• New section on write-offs / write-downs
• New Assets
• See Excel Page 2
• You can no longer add the gross book value of the
  new asset until you have given the Ministry the
  details of the asset
• Write-downs
• See Excel Page 4 (Column H.7)
• Used to say What is the amount of the write-down

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Commonly Made Errors

• Schedules 17C and 17D
• See Excel Page 3
• Operating lease schedules
• Report leasehold improvements in leases schedules
  only
• DO NOT include monthly lease payments
• Schedules 17A - 17D
• Not updating lease end dates (Column Z)
• Lease has ended and has not been renewed (Column
  AC)
• Asking for new assets
• If youre not sure if the asset is included,
  please call
• Doubling of assets

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Things You Should be Looking At

• AFTER ALL DATA INPUT IS COMPLETE, PLEASE REVIEW
  THE FOLLOWING PRIOR TO SUBMISSION
• Remaining Service Life
• See Excel Page 4 (Column H.3)
• Significant investments should increase remaining
  service life
• Contacting boards in April to review April to Aug
  07 submissions
• Write-downs Transfers to Permanently Removed
  from Service
• See Excel Page 4 (Columns H.5 to H.7)
• Make necessary write-down adjustments and
  transfers
• Putting negatives in gross book value column
• See Excel Page 4 (Column I or Column G.1)
• Negative values exceed gross book value

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Specified Procedures

• Copy in your handouts
• Specified procedures is 1 report that covers 2
  elements
• March Report
• 7-Month Capital Activities Report
• Unchanged from the prior 7-month report
• Filing requirements (details included in memo)
• Hard-copy to
• Phina Deal
• Transfer Payments Financial Reporting Branch
• 21st Floor, Mowat Block 900 Bay Street
  Toronto, Ontario M7A 1L2
• Due date May 23, 2008