Fixed Assets Internal Procedures 20082009

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Fixed Assets Internal Procedures2008-2009

• Fixed Assets Department

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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

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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.

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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)

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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.

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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

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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

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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.

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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.

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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.

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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

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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.

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Transfer/Disposal Form
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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.

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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.

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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.

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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.

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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.

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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.

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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.

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Contact Information

• Consuelo Gonzalez,
• Director of Fixed Assets
• E-mail cgonzal_at_uisd.net
• Phone [phone]
• David Hernandez,
• Fixed Assets Accountant
• E-mail davidh_at_uisd.net
• Phone [phone]
• Cynthia Urbano,
• Fixed Assets Officer,
• E-mail curban_at_uisd.net
• Phone [phone]

• Rolando Rubio,
• Fixed Assets Clerk
• E-mail rubio_at_uisd.net
• Phone [phone]
• Humberto Reyes,
• Fixed Assets Clerk
• E-mail hreyes_at_uisd.net
• Phone [phone]
• Jesus Flores,
• Fixed Assets Clerk
• E-mail jflore46_at_uisd.net
• Phone [phone]