PPM 40-200 Depreciation (Policy) on www.olc.edu

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                                                                                                   BOT 9-30-03

                                              DEPRECIATION (POLICY)

     Depreciation shall be taken on all fixed assets for the full year in the year of disposal.  No depreciation
     shall be taken on fixed assets in the year of acquisition.  Collections of the college are not for resale and
     do not need to be depreciated.  Depreciation shall be the straight-line method.  Yearly depreciation will be
     calculated as follows:

       Acquisition cost plus any ancillary charges less any expected residual or salvage value, if any, divided by
       the estimated useful life.

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