California Code of Regulations
Title 2 - Administration
Division 2 - Financial Operations
Chapter 2 - State Controller
Subchapter 3 - Accounting Procedures for Special Districts
Article 3 - Airport Districts
Section 1051.6 - Fixed Assets from Federal Grants
Universal Citation: 2 CA Code of Regs 1051.6
Current through Register 2024 Notice Reg. No. 38, September 20, 2024
Fixed assets acquired through grants-in-aid from the federal government shall be capitalized in the same manner as other assets. However, depreciation of such assets is not a charge against operations, but shall be treated as a direct reduction of the FAA grant-in-aid account.
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