Schedule 3E - Tangible Capital Assets - ARO - Detail Data
Similar to the Schedule 3C detail data form, this form is used in the Financial Statements cycle to enter TCA-ARO capital asset transactions for land improvements, buildings amortized over 20 years, buildings amortized over 40 years, and buildings amortized over 40 years permanently removed from service. School boards should input TCA-ARO asset activity for these asset classes on an asset by asset basis in this schedule.
Please note that as TCA-ARO are recorded at asset-level (as opposed to component-level), the EFIS form is set up to use the same remaining service life (RSL) for the TCA-ARO asset’s amortization as that used for the corresponding regular asset from Schedule 3C. In the rare case where a regular TCA asset is fully amortized (i.e., its RSL is 0) and is in productive use, and a new ARO liability is found on that asset, the RSL selected for the TCA-ARO component should be the estimated remaining useful life of the underlying TCA. In EFIS, the same RSL would be displayed on the Schedule 3C asset level form and the Schedule 3E asset level form, but it only represents the RSL for Schedule 3E TCA-ARO, not for the Schedule 3C underlying asset which is already fully amortized. Do not record any further amortization expense on the Schedule 3C TCA.
Due to the underlying design of EFIS, land assets will appear on the Schedule 3E detail input form even though these do not apply to ARO. Validation checks have been added to display red error cells if a school board enters any ARO transactions on a land asset.
The following fields are the same on both the Schedule 3C detail and Schedule 3E detail input forms, so for any input fields, any changes made on one form will automatically be reflected on the other:
- Asset Name (editable)
- Asset Serial Number (editable for new assets)
- Asset Type (editable for new assets)
- Asset Status (editable for new assets)
- Asset SFIS Number (editable)
- Street Address (editable)
- Town or City (editable)
- Remaining Service Life - Opening Balance September 1
- Remaining Service Life - Changes (editable)
- Review Remaining Service Life (editable)
- Remaining Service Life - Closing Balance
- Asset Transferred Link
- Asset Fully Transferred Flag
Requirements Detail
For details on each column, please refer to the board-level instructions for Schedule 3E Tangible Capital Asset Continuity - ARO. The columns are the same on the detail form.
For more details on data input for transfers between asset classes and transfers to financial assets, please refer to the Schedule 3C - TCA - Detail instructions.
Detail Level Validation
The detail level input needs to pass all validation rules listed in the table below before the EFIS submission can be promoted to the school board approver.
| Validation Check | Formula |
|---|---|
| Land Type Asset cannot have ARO Data | If TYPE = LAN then all ARO columns = NULL |
| Assets permanently removed from service cannot have in-year amortization expense or newly incurred liabilities | If TYPE = 40R then ARO_LIAB_INCURRED = NULL AND ARO_AMORT_EXP = NULL |
| Assets permanently removed from service can only record negative changes in the estimate | If TYPE = 40R then ARO_CHANGE_ESTIMATE < 0 |
| TCA ARO gross book value should be zero when the underlying TCA asset has zero gross book value (For example: when the asset is removed from the books due to transfer to financial assets, disposal or sale of the asset, both TCA and TCA-ARO GBV would be reduced to zero) |
If TCA_GBV_CLOSE = 0 then ARO_GBV_CLOSE = 0 |
| ARO - Closing Balance Aug 31 cannot be negative | ARO_CLOSE >= 0 |
| ARO - NBV Closing Balance Aug 31 cannot be negative | ARO_NBV_CLOSE >= 0 |
| A revenue recovery cannot be entered unless there is a value in either the ARO accumulated amortization change in ARO estimate or ARO accumulated amortization disposal columns | If ARO_REV_RECOVERY <> NULL then (ARO_ACCUM_AMORT_CHANGE_ESTIMATE <> NULL) or (ARO_ACCUM_AMORT_DISPOSAL <> NULL) |
| A loss cannot be entered unless there is a value in the ARO accumulated amortization disposal column | If ARO_LOSS <> NULL then ARO_ACCUM_AMORT_DISPOSAL <> NULL |
Once the data entered into the detail input form is validated, the summarized information is loaded into the Schedule 3E Tangible Capital Asset Continuity - ARO form. For any assets not captured in the detailed form, school boards should report the capital activities in the continuity schedule directly. In the Estimates and Revised Estimates, school boards will enter all transactions in the board-level continuity schedule.