Management Support
CAPITAL ASSET/THEFT-SENSITIVE ASSETS |
Policy No. 6801The district shall maintain a comprehensive capital assets record-keeping system. The goal of the capital assets program is to protect the district against losses that would significantly affect the district’s students, staff, property, budget or the ability of the district to continue to fulfill its stewardship responsibilities. For purpose of this policy, “capital assets” shall mean land, improvements to land, easements, building improvements, vehicles, machinery, equipment, works of art and historical treasures, infrastructure and all other tangible and intangible assets that are used in operations and that have initial useful lives extending beyond a single reporting period which: A. Retains its shape and appearance with use; B. Is nonexpendable meaning if the item is damaged or some of its parts are lost or worn out, it may be more feasible to repair it than to replace it with an entirely new item; C.
It does not lose its identity when
incorporated into a more complex unit; D. Is valued above $2,000; and E. Has a life expectancy of more than one year. Federal law requires a physical inventory of federally-funded assets at least once every two years. Reconciled inventory reports shall be provided to the board. Such report shall identify lost, damaged, or stolen capital assets. Missing capital assets will be removed from district property records by a vote of the board. No equipment shall be removed for personal or
non-school use. Theft-Sensitive Assets For purposes of
this policy, “theft-sensitive” are those items identified as most subject to
loss (e.g., audio-visual equipment, laptop computers, digital cameras). The
district will establish procedures for internal controls and will conduct an
annual inventory of theft-sensitive assets. The board will
be provided a report identifying equipment not accounted for in the annual
inventory. This equipment will be removed from the district property records
through school board action annually. The Superintendent shall develop procedures to implement this policy, including maintenance requirements and sales procedures to ensure the highest possible return. Cross References: Board Policy 6570 Property, Data and Records Management Legal References: RCW 28A.335.090 Conveyance and acquisition of property — Management — Appraisal 34 CFR § 80.32 Uniform Administrative requirements for grants and cooperative agreements to state and local governments – Equipment 7 CFR § 3015, 3016 Agriculture 45 CFR § 92.32 Health and Human Services Management Resources: Policy
News , June 2008 Capital
Assests/Theft-Sensitive Assests Policy News, April 2006 Fixed Assets Revised: February 23, 2009 Adopted: June 23, 2008 |