Source: Truth in Accounting
Latest Data: 2021
Release Timing: Following Year
Frequency: Annual
Contact: Sheila Weinberg, 847-835-5200, sweinberg@truthinaccounting.org

Capital assets are primarily tangible property with a useful life of more than one reporting period. They include assets such as land, infrastructure, buildings, and equipment. Intangibles may also be classified as capital assets, but usually account for a small portion. Capital assets are removed from TIA's calculation of the assets available to pay a city's or state's bills because they cannot be easily converted to cash.