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Fixed Assets Internal Procedures 20082009

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Title: Fixed Assets Internal Procedures 20082009


1
Fixed Assets Internal Procedures2008-2009
  • Fixed Assets Department

2
OVERVIEW..
  • Texas Education Agency Financial Accountability
    Resource Guide requires that Texas Schools
    account for fixed assets. This includes Land,
    Furniture, buildings, improvements and
    equipments.
  • Capital Outlays purchases classified
  • State Defined
  • Items with unit cost over 5,000
  • Tagged and controlled through the annual
    inventory process
  • Listed in Fixed Assets Subsidiary Ledger - 663Xs
    objective code
  • Accounted for in the General Fixed Assets Account
    Group
  • Audited by the Internal and External Auditors
  • Locally Defined
  • Items with unit cost over 500 less than 5,000
  • Tagged and controlled through the annual
    inventory process
  • Listed in Fixed Assets Subsidiary Ledger 664Xs
    objective code
  • Include electronics equipment with a unit cost
    of .01 cents less than 5,000
  • Audited by Districts Internal Auditors

3
Account Coding
  • Unit cost of the items purchased or to be
    purchased will determined the fixed asset
    category and subsequently coding to be used.
  • Three types of Expenditure Coding
  • Unit cost 5000 or more
  • Unit cost Less than 5000 and Electronics
  • Unit cost more than 500 to less than 5000.

4
Units Cost 5,000 or more
  • Purchase classified as capital outlay (663X-XX)
  • Tagged and controlled through the annual
    inventory process
  • Classified as State Defined and accounted on
    Districts General Fixed Asset Account Group.
  • Examples include
  • 6631 (vehicles)
  • 6635 (Data processing Equipment)
  • 6639 (all other equipment not classified
    elsewhere)

5
Unit Costs Less 5,000 and Electronics
  • Purchase Classified as capital outlay (6645-XX)
  • Electronic equipment with a unit cost of .01 to
    less than 5,000
  • Electronic equipment is computerized in nature is
    composed of intricate circuitry.
  • Examples include
  • Communication Equipment ( fax machines, mobile,
    hand held radios, etc)
  • Stereo Systems Components (boom box, speaker,
    mixer, DVD play, etc)
  • Computer Equipment (monitor, printer, CPU,
    external peripheral equipment (DVD/CD, Disk
    Drive), IPODs, PDAs, etc.)
  • Video Processing Equipment (camcorders, cameras,
    DVD/VCR combo, television combos, and
    televisions) Eikis, Elmos.

6
Unit Costs more than 500 less than 5,000
  • Classified as Capital Outlay (6649-XX)
  • Tagged and controlled by annual physical
    inventory process
  • Classified as Locally defined but not accounted
    on Districts General Fixed Assets Account Group.
  • Examples Include
  • Secondary Musical Instruments
  • Secondary Athletic Equipment
  • Machinery/ Tools
  • Furniture

7
Tagging Process
  • All equipment shall follow the purchasing process
    and be delivered to the Central Warehouse for
    tagging.
  • Under special circumstances, Purchasing may
    arrange items to be deliver to user site, if
    authorized, Fixed Assets should be NOTIFIED
    IMMEDIATELY to coordinate the tagging of these
    items by the campus/department.
  • Purchasing of Fixed Assets from local vendors
    will require that purchase order will be faxed to
    Fixed Assets Dept. for tagging and post to the
    campus/Department.
  • TAGS

8
Stolen Fixed Assets
  • If furniture/equipment is stolen
  • Report it to supervisor
  • Report to UISD Police Dept. (956-473-6361)
  • To report after 5pm and weekends
  • Officer on call in South of Highway 59
    (956-473-4384)
  • Officer on Call on North of Highway 59
    (956-763-4386)
  • Email Loss group (type in loss_at_uisd.net)
  • Date of Reporting to Police
  • Investigation Number (if available from Police
    Dept.)
  • Description of Stolen Items
  • Model/Serial Numbers (if available)
  • Replacement Cost
  • Email will trigger several individuals in
    district.

9
Surplus Sales, Sales of Scraps, Vehicle Loss due
to Collision
  • School Properties Disposal requires for District
    to follow proper procedures to account for
    disposal of school properties. Surplus Sales are
    done by Support Services throughout the year.
  • Vehicles sold for scrap requires for receipt be
    sent to Fixed Assets Dept. to have vehicle
    inventory updated and remove from inventory.
    Receipts need to identify identification number
    (VIN) and license plates.
  • Reimbursements from insurance claims for total
    loss of vehicle requires receipt to identify VIN
    and license plates to be sent to Fixed Assets
    Dept.

10
Fixed Assets Physical Inventory Audit
  • Purpose Fixed Assets Dept. will perform a fixed
    assets inventory/audit on all capital outlay
    items at each campus/department annually.
  • Inventory will be conducted during school year
    and process will be a component of the
    administrators end-of-year checkout list.
  • Items not accounted during inventory will be
    reported to principal/administrator.
  • Principal shall appoint a Fixed Assets contact
    person who will be responsible for keeping a
    strict account of all the fixed assets at the
    campus.

11
Fixed Assets Physical Inventory Audits
  • Pre-audit Process
  • 1. Audit will be scheduled with the respective
    administrator.
  • A campus map will be requested
  • Fixed Asset person will be contacted
  • A package will be prepared for each location
    containing
  • Tips of the Fixed Assets Process
  • Fixed Assets Procedures Manual
  • Fixed Assets Miscellaneous Change Forms
  • Authorization Form to Borrow Computer Equipment
    Forms
  • Fixed Assets Transfer/Disposal Form

12
Fixed Assets Physical Inventory Audits
  • Follow-up to Campus/Department Inventory Audits
  • Campus/Department will be provided and Excel
    Worksheet file of the items scanned after the
    inventory audit has been completed for their
    records.
  • Fixed Assets Department will reconcile the
    scanned file to the campus/departments Fin Plus
    Fixed Assets Database.
  • Fixed Assets Contact Person will be provided a
    file of the items not found to locate and/or
    provide documentation for the final determination
    of items not found. (Reflects Principals
    Evaluation)
  • The finalized report will be provided to the
    Principal, Superintendent, and Board of Trustees.

13
Transfer/Disposal Form
14
Process to Transfer/Disposal of Equipment.
  • Initiating campus/department completes and faxes
    the Fixed Assets Transfer/Disposal form to the
    Fixed Assets Department at 473-7992.
  • Any Fixed Assets Transfer/Disposal form
    containing Technology will faxed to Technology
    Supervisor for signatures.
  • The Fixed Asset Department assigns a control
    number () to the Fixed Assets Transfer/Disposal
    Form
  • Tech. Dept. will send technician to evaluate
    computer equipment for usage, once disposition,
    Tech. Dept will fax Transfer/Disposal form to
    Fixed Assets which in turn will send to Support
    Services for pick up.
  • Support Services will provide copies of
    Transfer/Disposal Form to Fixed Assets Dept.
    once all pickups have been completed.

15
Process to Transfer/Disposal of Equipment.
  • The Fixed Assets Department will verify all items
    retrieved against the Transfer/Disposal Form
  • Items will be updated from the Fixed Assets
    Subsidiary Ledger of the campus/departments
  • Fixed Assets Department is NOT involve in
    scheduling and picking up of Fixed Assets
    Transfer/Disposal equipment.
  • Any Temporary transfer of equipment will require
    a Transfer/Disposal Form to be completed.
  • Any Radio, Eiki/Elmo transfer/disposal will
    require the signature of the Technicians and
    Executive Director of Information Technology.

16
Transfer/Disposal Form Control Number
  • () Control Number Consists of
  • Exp. 880TN-913-08-14-111 or 913-08-14-112
  • 880TN OR 880TS identifies Fixed Assets
    Transfer/disposal Form containing technology
    equipment,
  • Control Numbers that dont contain 880TN OR 880TS
    identified as containing Furniture/Equipment.
  • 913 Identifies campus or department
  • 08 Identifies the month control number was
    assigned
  • 14 Identifies the date control number was
    assigned
  • 111 Identifies the sequential number the
    control number is assigned.

17
Fixed Assets Miscellaneous Change Form
  • It is used when transferring fixed assets from
    one room to another within a campus/department.
  • It must be thoroughly completed
  • Must be sign by the campus/department
    Administrator.
  • It should be faxed to Fixed Assets Department to
    update the change on the campus/departments
    Fixed Assets inventory database.

18
Authorization to Borrow Computer Equipment
  • When borrowing computers off-site schoolwork,
    Equipment Check-Out Form needs to be completed.
  • It is also used when issuing teachers, students
    equipment.
  • When administrator takes laptops off campus.
  • It must be thoroughly completed (district tag
    number, serial number, description, name of
    person borrowing computer, and date borrowed)
  • When equipment is received, form should show date
    the computer equipment was received and signature
    of person receiving the computer equipment.

19
Donated Items/Student Activity Purchases
  • Donated Fixed Assets will be recorded at their
    fair market value at the time of receipt
  • Receipt of donated items/Student Activity should
    be faxed to Fixed Assets Department
  • Tagged and posted on campus/departments
    inventory
  • Student Activity monetary donations used for
    purchase of equipment must be submitted in
    writing to the Area Administrator and be approve
    by the Superintendent or designee.
  • All Student Activity donations must be approve by
    Board of Trustees.

20
Returned Equipment-Fixed Assets
  • When equipment, which already has district tags,
    is returned for replacement or credit
  • Remove and attach the district tag to the
    Transfer/Disposal Form with its corresponding
    serial number and campus/department information
    to remove the serial number and update
    campus/department inventory. (See Exhibit G)
  • Fax the Transfer/Disposal Form to 956-473-7992
    (Fixed Assets Dept.) to have an assigned control
    number.
  • When replacement is received, notify Fixed Assets
    Dept. To retag the equipment and update the
    campus/departments inventory with the new serial
    number and tag number.

21
Contact Information
  • Consuelo Gonzalez,
  • Director of Fixed Assets
  • E-mail cgonzal_at_uisd.net
  • Phone (956) 473-7991
  • David Hernandez,
  • Fixed Assets Accountant
  • E-mail davidh_at_uisd.net
  • Phone (956)473-7943
  • Cynthia Urbano,
  • Fixed Assets Officer,
  • E-mail curban_at_uisd.net
  • Phone (956)473-7936
  • Rolando Rubio,
  • Fixed Assets Clerk
  • E-mail rubio_at_uisd.net
  • Phone (956) 473-7990
  • Humberto Reyes,
  • Fixed Assets Clerk
  • E-mail hreyes_at_uisd.net
  • Phone (956) 473-7988
  • Jesus Flores,
  • Fixed Assets Clerk
  • E-mail jflore46_at_uisd.net
  • Phone (956)473-7988
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