Issue Date: 2001-09-01
Revised Date:

Object Type

Cash — Real Property


Specific definitions for capitalized, controlled and expensed asset classifications are located in the SPA Process Users Guide.


To record payment for a capital lease of a facility (other than buildings) built, installed, or established to enhance the quality or facilitate the use of land for a particular purpose.

To qualify as a capital lease, the lease agreement must meet any one of the following criteria:

  • The lease transfers ownership of the property to the lessee by the end of the lease term.
  • The lease contains a bargain purchase option.
  • The lease term is equal to 75 percent or more of the estimated economic life of the lease property.
  • The present value of the minimum lease payments at the inception of the lease, excluding executory costs, equals at least 90 percent of the fair value of the lease property.

Expenditure code 7337 includes, but is NOT limited to:

  • Athletic Fields (including bleachers) - capital lease
  • Basketball Courts - capital lease
  • Driveways - capital lease
  • Golf Courses - capital lease
  • Parking Barriers - capital lease
  • Parking Lots - capital lease
  • Paths and Trails - capital lease
  • Pavilions - capital lease
  • Plazas - capital lease
  • Recreation Areas - capital lease
  • Septic Systems - capital lease
  • Stadiums - capital lease
  • Swimming Pools - capital lease
  • Tennis Courts - capital lease


This code does NOT include:

  • Interest (7802)

If the asset meets or exceeds the capitalization threshold of $100,000, it must be reported to SPA and in the financial statements as a capital asset.

USAS Values

Appropriation Year 20
Object Group 10 – Expenditures
USAS Status A
Rev/Exp Category 13 – CAPITAL OUTLAY