Created: 04/11/12

Revised: 05/02/12

ASSET MANAGEMENT / FIXED ASSETS PROCEDURES

All items ordered out of 6395.00 (Furniture/Equip Inventory) or 6639.00 (Furniture/Equip Capital) will need to be tagged. Inventory items are for those items less than $5,000.00. Capital items are for those items greater than $5,000.00.

Note: All Asset Management / Fixed Assets forms can be found on the business office website at . These forms are interactive and should be typed.

  1. When items are received, fill out the Original Purchase Item form per item. Be as descriptive as possible with the description of the item and type the serial number verbatim. Sign and date the form and send it to the business office for processing.
  1. Upon receipt of the form, the business office will contact you and arrange a time to tag the furniture/equipment. At that time, the description and serial number will be double-checked. If all matches, then the furniture/equipment will be tagged.
  1. After the item is tagged, the furniture/equipment can then be put to use. If for any reason a tagged piece of furniture/equipment leaves the ESC-2 and is assigned to a district or anywhere else, it is the department’s responsibility to keep a log of where the furniture/equipment is located.

Note: if a tagged item is pulled for audit, the last person assigned to be the person responsible for the item will be contacted and must be able to produce that piece of furniture/equipment upon request. If the furniture/equipment is assigned outside the ESC-2, a log record must be current and available for the auditors to view.

Transfer Item:

When a tagged item moves with a department or out of the department, a Transfer Item form must be filled out and sent to the business office.

Auction Item:

When a tagged piece of furniture/equipment is still in working condition and needs to be auctioned off at the ESC-2 surplus sale, an Auction Item form must be filled out and sent to the business office. The business office will need to remove the tag prior to the furniture/equipment leaving your department. Once the tag has been removed, the business office will contact MIS and let them know that your furniture/equipment is ready to be picked up. Upon auction of the items, receipts need to be submitted to the business office.

Delete Item:

When a tagged piece of furniture/equipment is not in working condition and needs to be disposed, a Delete Item form must be filled out and sent to the business office. The business office will need to remove the tag prior to the furniture/equipment leaving your department. Once the tag has been removed, the business office will contact MIS and let them know that

your furniture/equipment is ready to be picked up and disposed of. Upon deletion of the items, receipts need to be submitted to the business office.

Auctions will be held annually in March to dispose of surplus goods. All staff needs to start looking at items for disposal in January.

Please contact the business office if you have any questions regarding Asset Management.