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Capital Expenses

by Joann
(Warrensburg, IL, USA)

Is a new roof for a parsonage considered a capital expense for a church?

Know the answer? Face the same situation? Please post your answer or comment by using the "comment" link below. Thank you!




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Capital Expenses

Average Rating starstarstarstarstar

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Aug 23, 2010
Rating
starstarstarstarstar 		Capital Improvement
by: Vickey

According to the Business Dictionary, a capital improvement is an addition or structure that enhances the value of a property, or a replacement or upgrade that extends the useful life of an asset.

So I would consider a new roof a capital expense.

May 20, 2011
Rating
starstarstarstarstar 		Who Owns the Parsonage?
by: David White

Disclaimer. I am an Engineer not an Accountant. but I am also currently my churches Treasurer. I my opinion, if the Church holds the deed to the Parsonage, then any major repairs (like a roof) would be considered capital. My reading of other accounting literature does not like the term 'Capital', because it is vague in nature. The term 'Fixed Assets' seems to be more acceptable.

Hope this helps. God Bless.

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