POLICIES AND PROCEDURES Accounting for Fixed Assets & Equipment Inventories Generally accepted accounting principles and the Texas Education Agency s Financial Accountability System Resource Guide (FASRG) require the Socorro Independent School District to maintain accurate fixed asset records. In order to properly maintain these records, the following fixed asset and equipment inventory procedures have been established. These procedures should be referred to prior to adding, removing, or transferring an asset from any campus or department. A fixed asset is defined as a tangible item with a value of $500.00 or more with a useful life in excess of two years. The Department of Financial Services is responsible for tracking and reporting all fixed assets with a few exceptions. An asset may or may not be capitalized for financial reporting purposes. The District will track and account for two types of assets. 1) Capitalized assets - An asset that has an estimated life extending beyond a single reporting period and a value equal to or greater than the capitalization threshold of $5,000 established for that asset type. Budget Account numbers 6619 Land Purchases and Improvements 6629 Building Purchases and Improvements 6631 Vehicles (Unit cost of $ 5,000.00 or more) 6635 Technology Equipment (Unit cost of $ 5,000.00 or more) 6639 Equipment (Unit cost of $ 5,000.00 or more) 2) Locally defined controlled assets - An asset that is not capitalized or 1
on the Controller s controlled asset list but is tracked and accounted for. Budget Account numbers 6395 Technology equipment $0.01 to $4,999.99 6396 Furniture and equipment (excluding technology) valued at $0.01 to $4,999.99 Assets valued under the established controller controlled asset amount. The Department of Financial Services will track and account for assets valued under the established amount of $5,000 as part of a general inventory. The campuses or departments are required to maintain an inventory roster for all equipment, especially equipment considered high-risk such as DVD/CD players, disk drives, Ipod s, PDA s, camcorders, cameras, televisions, Elmos, IWB s, mobile and hand held radios, etc. During an inventory audit these items will also be subject to review. PURCHASE OF ASSETS Campus principals or department directors/coordinators review asset purchase requisitions and authorize asset purchases. All asset items acquired through purchase orders must specify the Warehouse as the delivery location. Warehouse personnel will barcode and scan the items into Communicator for internal tracking by the Department of Financial Services. It is imperative that the procurement of any item considered an asset or inventory item be purchased using the correct budget object code account. By using the proper object code accounts, an efinance+ module creates a record of the items purchased in the fixed asset interface module. The following are technology items that should always ship to the SISD Warehouse: Digital cameras Digital Camcorders ipods Laptops Desktop Computers Video Mixers Audio Mixers Scan converters Docking Stations (both laptops & digital cameras) Printers External Hard Drives Fax Machines Video Converters Document Cameras Monitors Scanners 2
IWBs ActiVotes ActiSlates Data projectors Graphing calculators Surround Sound Speakers Speakers Palm Pilots Video Presenters Audio Equalizers Ignite COWS (8 th grade Science) Switches TVs Audio amplifiers CD Burners CD players Use the designated (object) codes to procure an item that falls within the description provided. NOTE: Departments/Campuses should purchase only the necessary quantity of assets or inventory items. Warehouse should not have to store new items for more than 3 weeks. Assets that can easily become obsolete (e.g. computers) should be delivered by Warehouse to campuses or departments and be put to use in a prompt manner. FIXED ASSETS RECEIVING AND TAGGING All assets valued at $5,000 or above should be tagged physically or at the P.O. level. Items with a value under $5,000 are not capitalized but are tracked. The District tracks those items by issuing tags and entering in the fixed asset module. District-wide inventories completed by departments/campuses, which are to be submitted electronically to the fixed asset accountants, will be conducted annually. Periodic physical inventory audits are conducted for musical instruments to verify existence of these items. Technology items are tracked by tech pilots at the campuses and district technology personnel. The items that fall in the following range are tagged: Technology All items considered Musical Instruments/Equipment - All items considered Furniture & Equipment (not including any of the above) $500 and above By using account object codes 6395 for technology items and 6396 for furniture, equipment, and machinery (excluding technology) under $5,000, we are able to track the expenditure of these items. Warehouse personnel are responsible for tagging of assets with a Socorro Independent School District fixed asset number and scanning the tag into Communicator. Again, in order for this procedure to be accomplished, it is 3
imperative that the requisition for fixed assets designate the District Warehouse as the Ship to location. Exceptions to this rule are: New school start-up when quantities surpass the capacity of the Warehouse Exceptionally large items/furniture that require vendor installation If an exception is claimed, the Department of District Operations and Fixed Asset Staff need to be contacted to assure asset(s) will be tagged and scanned into Communicator. There are few exceptions for not physically tagging an asset. Assets that will not be physically tagged include but are not limited to buildings, certain sports equipment, large items placed in inaccessible locations (e.g. scoreboards), district wide systems, and software that has an estimated life extending beyond a single reporting period and a value equal to or greater than the capitalization threshold of $5,000. These items will be included as part of fixed assets. The purchase order for the untagged asset will be kept at the Department of Financial Services and will hold the asset s actual tag. FEDERAL FUNDS It is important that all equipment purchased with federal funds remain in their designated location and used as specified in the grant guidelines. Under no circumstances can equipment purchased with federal funds be used in a manner that is not in accordance with grant guidelines. Equipment purchased with federal funds must be disposed according to District policy. Proceeds realized for the disposal must be used according to the grant regulations. All individual federally funded assets with a cost of $5,000 or more shall be capitalized in accordance with local policies. Only COWS (computers on wheels), computer labs, or Web-based software purchased with federal funds shall be capitalized if the following criteria are met: Computers and accessories for a computer lab are housed in the same location; The aggregate cost of the like items is equal to or exceeds $5,000; and The useful life is greater than one year. Assets not listed above shall not be capitalized. 4
ASSET TRANSFERS An Asset Transfer Form (ATF) must be completed for the transfer of assets between campuses/departments (including transfers to the warehouse). If the transfer is only temporary, an Asset Usage Form should be completed. If the asset is transferred to another location for repairs, use the Asset Repair Log and state where the asset is being repaired. Transfer of Non Technology Assets Form: Asset Transfer Form 1. The school or department initiating the transfer completes and faxes the Asset Transfer Form-Non Technology to the Fixed Assets Staff @ (915) 851-7932. 2. Campuses/Departments should indicate on the Asset Transfer Form the asset number, description, serial number, receiving campus/department, reason for transfer, working condition, and note any defects, damages, etc. The Fixed Asset Coordinator s (assistant principal/director) signature is required before faxing. 3. Fixed Asset staff will assign a control number and return ATF via fax. No assets should be added to ATF once control number has been assigned. No transfers will take place without the control number. 4. A work-order will then be generated by the department or campus to coordinate transfers with Warehouse. The control number along with a brief description of the equipment should be included in the work-order. Fixed Asset staff is not involved in scheduling or transferring assets. 5. The faxed copy of the ATF corresponding to the work-order should be presented to the Warehouse Distributor who will verify and sign off on the assets listed. A copy of the completed form is to be kept at the campus/department level. 6. Warehouse will provide the Fixed Asset staff the final copy of the ATF once the transfer has been completed. The following Disposition codes should be used on the ATF: 111-Repairs 222-Computer Loaner 333-Surplus 444-Recycle 5
999-Auction 7. The Fixed Asset staff will review the ATF and update the Fixed Asset module. Transfer of Technology Assets Form: Asset Transfer Form 1. The school or department initiating the transfer completes and faxes the Asset Transfer Form-Technology to the Fixed Assets Staff @ (915) 851-7932. Only audio visual/technology items such as those that ship to Warehouse should be on this form. 2. Campuses/Departments should indicate on the Asset Transfer Form the asset number, description, serial number, receiving campus/department, reason for transfer, working condition, and note any defects, damages, etc. The Fixed Asset Coordinator s (assistant principal/director) signature is required before faxing. 3. Fixed Asset staff will assign a control number and return ATF via fax to the campus/department contact and copy Technology (David Akers). No assets should be added to ATF once control number has been assigned. No transfers will take place without the control number. 4. A work-order will then be generated by the department or campus to coordinate transfers with Warehouse. The control number along with a brief description of the equipment should be included in the work-order. Fixed Asset staff is not involved in scheduling or transferring assets. 5. The faxed copy of the ATF corresponding to the work-order should be presented to the Warehouse Distributor who will verify and sign off on the assets listed. A copy of the completed form is to be kept at the campus/department level. 6. Technology and audio/visual equipment with location Surplus Warehouse- 999 will be received at the Technology Department. 7. A technician will assess whether the assets still work and can be recycled or remove data and hard drives for assets that will be sent to surplus. All information will be documented on the ATF for that equipment. The following Disposition codes should be used on the ATF: 111-Repairs 222-Computer Loaner 333-Surplus 444-Recycle 999-Auction 6
8. Assets that are in working condition must be secured at Technology until they are transferred to another location. 9. Technology will provide the Fixed Asset staff the final copy of the ATF once the transfer has been completed. OBSOLETE/SURPLUS PROPERTY Assets that are no longer needed by a campus or department become surplus property. District property can only be disposed of according to policy. Equipment cannot be given, donated or discarded. All surplus property will be stored at the Surplus Warehouse. An Asset Transfer Form (ATF) must be completed for all District property. It is important that the condition of the equipment be indicated on the form. Warehouse will maintain separate storage areas for equipment that is damaged/obsolete or usable. Equipment that is in working condition must be kept in an area protected from the environment, rain, dust, and extreme changes in temperature. The Department of Technology will be responsible for determining the condition of all computer equipment. This will allow other schools or departments to view and request the use of the equipment that is usable. The equipment will be kept in a safe secure locked area with access to only authorized personnel. Assets or inventory found in the surplus warehouse should be recorded on efinance+ as location 999 to help fixed asset personnel determine the location of those assets that are no longer in use by the campuses or departments. Transfers of computer equipment and telecommunication equipment require approval from the Department of Technology. Property Disposal All property no longer of use to the District will be sent to the Warehouse for storage. An Asset Transfer Form (ATF) must be completed for all District property. Items determined to be no longer of use will be sold through a public sale auction upon approval by the Board. Fixed assets or inventory items must be removed from District inventory reports prior to disposal. Prior to the auction, all items to be sold must be verified by the Department of Financial Services. Under no circumstances can campus or departments dispose of property. Items 7
should not be discarded at the campus or department level. Items must be sent to the Warehouse where they can properly be disposed of through a public auction. Proceeds from the disposal sale All proceeds realized from the sale will be allocated back to the Districts general fund balance, except for revenue realized from the sale of items purchased by Child Nutrition Services or grants if required. Form: Equipment Usage Agreement EQUIPMENT USAGE AGREEMENT An employee may request to utilize equipment for school or instructional purposes by completing an Equipment Usage Agreement. The use of school property for personal use is prohibited. The approved Equipment Usage Agreement must be completed and approved by the Fixed Asset Coordinator and retained by the Fixed Asset Coordinator until the item is returned. The employee must be aware and understand that by signing the receipt to check out the equipment they are solely responsible for the repairs or the replacement if the equipment is damaged or stolen. The equipment must be returned within the specified period of time as stated on the agreement form. Equipment with a unit cost of $5,000.00 or more can only be loaned out after receiving approval from the Department of Financial Services. Also, equipment belonging to the Departments of Technology, Telecommunications, and Child Nutrition Services can only be used with their written approval. THEFTS OF EQUIPMENT & INVENTORY ITEMS Report all thefts of equipment to the Department of Security and Internal Auditor. Form: Fixed Asset Loss Report A police report must be completed for all items reported stolen from school property. A loss report must be completed and attached to the police report in order for the items to be removed from the Districts records. The school or department is responsible for completing a loss report when an item is stolen, damaged or vandalized. The loss report must be forwarded to the Department of Financial Services. The Department of Financial Services will determine if an insurance claim can be filed. Property losses due to negligence will become the responsibility of the 8
individual. Replacement of a lost item is the responsibility of the school/department. CAMPUS/DEPARTMENT INVENTORY The Department of Financial Services will conduct annual inventories of fixed assets and inventory items. Random samples of equipment will be selected for review on an annual basis. Helpful hints: To maintain accurate fixed assets and inventory records by campus and department: 1.) Items should not be removed from their designated location. 2.) Report all lost and stolen items. 3.) Assign equipment to specific locations either by room number or employee names. 4.) Make sure that all individuals are aware that they are responsible for equipment assigned to them. 5.) Provide all individuals with a print out of equipment under their supervision. 6.) Require staff to take a physical inventory at the beginning and end of the school year. 7.) Conduct actual physical inventory of selected items at end of year during check out. (Examples: Laptops, musical instruments, movable items valued over $ 5000.00, etc.) 8.) Keep signed inventory verification form on file. 9
FIXED ASSET COORDINATORS 10-11 Campus/ Department Contact Ext E-mail High Schools 001 Socorro HS Bernadette Ochoa 72007 bochoa 002 Montwood HS Derrick Brown 72405 dbrown08 003 Keys Academy Bruce Mooy 74403 bmooy 004 Americas HS Donna Baca 72803 dbaca02 005 El Dorado HS 73222 009 Options Iris Jimenez 71304 ijimen01 007 Mission Early College Ivette Savina 71204 isavin Middle Schools 041 Socorro MS Earl Sanchez 75003 esanch38 042 Salvador H Sanchez MS Jan Farnam 75262 jfarnam 043 William D. Slider MS Norma Ayala 75404 nayala 044 Walter E. Clark MS Sieglinde Fleenor 75603 sfleen 045 Montwood MS Hector Rivas 75805 hrivas01 046 John O. Ensor MS Thomas Redlinger/Alberto Chavez 76034 achave54 047 Sun Ridge MS Rosa Jimenez (Interim) 76603 rjimen06 048 Raphael Hernando III MS Luis Reyes 79804 lreyes Elementary Schools 101 Robert R. Rojas 78503 102 H.D. Hilley Estevan Alvarez 78403 103 O'Shea Kelleher Ray Granado 77203 bchaco02 104 Campestre Donna Smith 77303 dsmith02 105 Horizon Heights Frances Gonzalez 77403 fgonza10 106 Vista del Sol Kathy Sprinkle 77503 ksprin 107 Hueco 77603 rgrana01 109 Myrtle Cooper 77703 110 Escontrias EECC Felipe Arenas 74103 farena 111 Escontrias ES Diane E. Duncan 74103 ddunca01 112 Benito Martinez Belen Castillo 78003 bsegov01 113 Sierra Vista Jesus Mendez 78103 jmende12 114 Helen Ball Jesse Sepulveda 78204 cdelac03 115 Elfida Chavez Norma Myers 78304 nmyers 116 Jane Hambric Jesus Beltran 74609 jbeltran 117 Ernesto Serna Jesus Fuentes 74800 jfuent02 119 Lujan Chavez Jaime Hernandez 78703 jherna82 120 Desert Wind School Jose Pedroza 77878 jpedro 121 Loma Verde Jesse Aguirre 78603 rcarreon 10
122 Bill Sybert Gloria C. Holguin 74403 gcontreras 123 Paso Del Norte Donna Tylor 76204 dtyler01 124 John Drugan Veronica Candelaria 76803 vcande 125 Hurshel Antwine France Godfrey 76403 fgodfr 126 Dr. Sue Shook Dennise Strong 77102 astron 127 Roberto Ituarte Martha Crespo 77003 mcresp 128 Chester E. Jordan Maribel Macias 78804 mmacia02 Departments Contact/Director Ext E-mail 580 Aquatics Jaime Escalera/Dan Ferguson 70546 jescalera 600 Intrastructure Services Raul Rodriguez/Hector Reyna 204- rrodri66 2334 610 Instructional Technology Gloria Aguirre 70345 630 Information Systems Lou Aguilar/Michele Wyndham 71004 laguil 640 Print Shop Armando Lopez/Jose Chacon 70851 alopez10 650 Library Services Veronica Contreras/Sue Thompson 70414 vcontr 670 Community Ed. Services 690 Bilingual Cynthia Salazar/Jennifer Quintana 70526 cysalazar 695 Advanced Academics Belen Segovia Castillo 70117 710 Technology Services Oscar Dominguez/Hector Reyna 71007 odomin 750 Fine Arts Donald Rominsky/Nellie Ponikvar 70536 dromin 780 Public Relations Francis Duran/Toni Cordova 70281 fduran02 790 Special Programs Jessica Rodriguez/Maria Arias 71600 jrodri01 800 Instructional Svcs- Araceli Rubio/Cynthia Lopez 70301 arubio11 Secondary Education 810 Research & Evaluation Mary Ernewayn/Kelly Mendoza 70307 mernewayne 830 Special Ed Irma Gonzalez/Susan Kelch 71822 igonza12 840 Elementary Education Rachel Bernal/Rebecca O Neill 70306 mberna 850 CATE Lilia Aguilar/George Thomas 70317 laguil03 860 Superintendent s Office Yvette Castelo-Rommes/Dr. Xavier 70010 ycaste de la Torre Internal Auditor Joe San Miguel 70108 jsanmiguel 880 Mail Room Alma Rangel/Jose Chacon 70840 arange 890 Human Resources Benefits Lisa Gomez/Lorena Rios 70234 lgomez05 Certification Frances Munoz/Rudy Montoya 70204 fmunoz Reception & Other Martha Rios/Barbara Brewer 70207 mrios10 Records Ernesto Alonso/Joyce Zariwski 70216 ealonz01 Risk Management Guillermo Narro/Rudy Campoya 70250 Salary Officers & Monica Tapia/Rudy Campoya 70239 mtapia07 Subfinder 900 Administrative Services Caryn Leon/Lupe Lujan 70053 cleon Nurse DSC Sandra Beckford 74032 sbeckf 915 Guidance & Counseling Kim Dunlap-Flores/Elizabeth Jane 70323 kdunla Johns 920 Athletics/SAC Johanna Redlinger/Paula Gonzalez 70505 jredli 930 Financial Services Ayleen Gonzalez/Tony Reza 70110 agonza95 11
Budget/Payroll Jesus Armas/Susan Olson 70110 jarmas 940 Operational Services Gracie Tovar/Thomas Eyeington 70380 gtovar Maintenance Anel Carreon/Hugo Hernandez 70713 acarre11 950 Warehouse Juan Natividad/Jose Chacon 70805 jnatividad 960 Purchasing Department Maria Calderon/Mark Vechione 70164 mcalde07 970 Child Nutrition Services Gilbert Melendez/Deborah Devine 70750 gmelen01 980 Transportation Tony Holguin/Manuel Rubio 70605 aholgu06 990 Security Bonnie Leon/Luis Vega 70780 yleon For questions or suggestions, below are the District Service Center Contacts Department Contact Phone No. E-mail Financial Services/Fixed Assets Edna Garcia (915) 937-0116 egarci71@sisd.net FixedAssetsStaff@sisd.net Adriana Aguirre (915) 937-0112 aaguir27@sisd.net Juanita Perez (915) 937-0181 jperez49@sisd.net Internal Audit Jose San Miguel (915) 937-0108 jsanmiguel@sisd.net 12