Title: Fixed Assets Internal Procedures 20082009
1Fixed Assets Internal Procedures2008-2009
2OVERVIEW..
- 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
3Account 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)
5Unit 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.
6Unit 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
7Tagging 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
8Stolen 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.
9Surplus 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.
10Fixed 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.
11Fixed 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
12Fixed 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.
13Transfer/Disposal Form
14Process 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.
15Process 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.
16Transfer/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.
17Fixed 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.
18Authorization 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.
19Donated 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.
20Returned 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.
21Contact 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