New Jersey Administrative Code
Title 10 - HUMAN SERVICES
Chapter 52 - HOSPITAL SERVICES MANUAL
Subchapter 6 - FINANCIAL REPORTING PRINCIPLES AND CONCEPTS
Section 10:52-6.19 - Major moveable equipment
Universal Citation: NJ Admin Code 10:52-6.19
Current through Register Vol. 56, No. 18, September 16, 2024
(a) Major Moveable Equipment includes straight line depreciation costs on owned or capitalized leased Major Moveable Equipment plus a Price Level Depreciation Allowance in excess of this historical depreciation and operating lease/rent payments relative to Major Moveable Equipment utilized for Services Related to Patient Care. Leased Major Moveable Equipment is to be capitalized or reported as operating lease costs in accordance with GAAP.
1. Major Moveable Equipment Costs so determined are reported as a Natural Classification of Expense of each cost center.
2. Major Moveable Equipment utilized by more than one functional cost center must be assigned to the using cost centers based on an estimate of each center's utilization.
3. Capitalized repair and installation costs shall be included with the cost of the equipment.
4. Interest associated with capitalized financing purchases or leases shall be excluded and reported as reconciling items, since the Internally Generated Major Moveable Equipment Replacement Fund is established to provide sufficient funds to replace purchased equipment or meet installment payments for financed equipment (both principal and interest).
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