Fixed Assets

Definition

• Capital Asset

• Tangible

• Life is greater than 1 year

• Significant value ($5,000 or greater per unit)

• Identified and controlled through inventory

Capitalization Threshold

• Effective 2013-2014 & Beyond

• Assets shall be capitalized if the cost is $5,000 or greater per unit

• Total cost of a “set” of items exceeding $5,000 will not be considered a capital asset.

High Pilferage

• Locally Defined Assets (Inventory)

• Non-capital assets (less than $5,000 per unit)

• These items are typically tracked for insurance purposes and to deter/detect theft

• Typical account code for high pilferage assets is 6399 Supplies

High Pilferage

• Computers (CPU, laptops, servers)

• Printers and Multi-function Printers

• Fax Machines• Computer Scanners • TV’s/Plasma

Screens/LCD/LED Panels• DVD/VCR/Blueray players• CD Players

• Camcorders • Digital Cameras • Photographic Cameras • Scientific/Graphing

Calculators • Video/Computer Projectors• Document Cameras• eReaders (Nook, Kindle,

etc.)• Mobile Devices (iPad’s,

iTouch, iPod’s, etc.)

High Pilferage

• Centralized Receiving

• Ship To Address on PO = S800

• Assets tagged with barcode labels during the receiving process at Central Warehouse

• If received at your location without barcode, contact Rudy Ramirez 688-5421.

Intended Use

• Identify in PR Notes who will be assigned the asset and the room number, department or office it will be located at,

• “Sandra Garza, 3rd Grade Teacher, Room 32”

• “Albert Canales, Principal’s office”

• “Hector Gloria, Accounting Department”

• “Mayra Lopez, Library”

Donated Assets

• Board Policy CDC(Local) - The Superintendent shall notify the Board of, and the Board shall formally acknowledge, each gift or donation having a value of at least $5,000

• Contact Rudy Ramirez at 688-5421 to tag and inventory any donated assets received by your campus

Disposal of Assets

• Assets are disposed of after a determination has been that the assets are obsolete or surplus.

• Submit work order through KACE• https://kace.mcallenisd.net/userui/welcome.php

• Attach TYPED Disposal Form• High Pilferage/Computer Equipment/Disposal Form (Word)• High Pilferage/Computer Equipment/Disposal Form (PDF) • Capitalized Equipment Transfer/Disposal Form  (Word)• Capitalized Equipment Transfer/Disposal Form  (PDF)

Disposal of Federal Assets

• Assets purchased with federal funds are subject to the federal guidelines (34 CFR 80.32)

• Assets with a current per-unit fair market value of less than $5,000 may be retained, sold or otherwise disposed of with no further obligation to the awarding agency

• Assets with a current per unit fair market value in excess of $5,000 may be retained or sold and the awarding agency shall have a right to an amount calculated by multiplying the current market value or proceeds from sale by the awarding agency's share of the equipment

Other Disposals

• A hardcopy disposal form is not required for the disposal of surplus, obsolete, broken or damaged furniture, scrap metal, tires and non-capital or non-high pilferage equipment

• Submit a work order on KACE indicating what surplus/obsolete items to schedule for pick up: “10 desks, 20 chairs, 2 file cabinets, etc”

• Broken furniture (trash) is to be disposed of by Custodian in dumpster

• For additional information contact Javier Gallegos at 661-4442.

Questions