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Fixed Assets

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

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Fixed Assets

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  1. Fixed Assets

  2. Definition • Capital Asset • Tangible • Life is greater than 1 year • Significant value ($5,000 or greater per unit) • Identified and controlled through inventory

  3. 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.

  4. 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

  5. High Pilferage • Computers (CPU, laptops, servers) • Printers and Multi-function Printers • Fax Machines • Computer Scanners • TV’s/Plasma Screens/LCD/LED Panels • DVD/VCR/Bluerayplayers • 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.)

  6. 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.

  7. 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”

  8. 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

  9. 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)

  10. 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

  11. 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.

  12. Questions

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