Compare the GASB disclosure requirements listed below with the ACFR for Kansas City Missouri.

GASB Disclosure Requirements

Capital assets that are not being depreciated are disclosed separately from depreciated assets.

In addition to the general policy for capitalizing assets and estimating the useful lives of depreciable assets, the required disclosures include:

Beginning$-$of$-$year and end$-$of$-$year balances showing the accumulated depreciation separate from historical cost

Capital acquisitions during the year

Sales or other dispositions during the year

Depreciation expense for the current period with disclosure of the amounts charged to each function in the statement of activities

Disclosures describing works of art or historical treasures that are not capitalized and explaining why they are not capitalized. If capitalized, include in the disclosures described above

$2)$ Discuss how your ACFR reports on these requirements and answer the questions

below.

What can you learn from this disclosure?

Is there construction work in progress recorded?

What is your entities policy regarding capitalization?