Fixed Assets Department
Fixed Assets Classification
Fixed Assets are classified into two categories: Capital Outlay or Inventory.
Capital Outlay Assets are defined as:
1. Having a unit cost of $5,000 or more
2. Will last two years or more
3. Retain its original shape and appearance with use
4. Is Non-Expendable (i.e., if the asset is damaged or some of its parts are lost or worn out, it is usually more feasible to repair it than to replace it with a new one)
5. Does not lose its identity through incorporation into a different or more complex unit or substance
6. Purchased with Account have an Object Code of 663X
Inventory Assets are defined as:
1. Having a unit cost between $200 and $4999
2. Will last one year or more
3. Purchased with Account have an Object Code of 6397
Other items with a unit cost less than $200 will also be classified as inventory such as:
1. Technology related equipment (i.e., monitors, tablets, printers)
2. Audio/Visual related equipment (i.e., digital/video cameras, projectors, TVs, DVD players)
If several parts or components are purchased to assemble into one item or unit, the Total Cost determines if the item is a Fixed Asset.
All Assets will be Tagged with a label showing the following information:
PROPERTY OF EDINBURG C.I.S.D.
(DO NOT REMOVE TAG)
Barcoded ECISD Number
Purchase Order Number
Acquired Month and Year
All Fixed Assets are subject to Internal and External Audits.
Central Receiving for Purchased Assets
All items purchased with accounts having an Object Code of 6397 or 66xx (Capital Outlay) must be delivered to the Fixed Assets Warehouse (Dept. # - 732):
921 E. Schunior St.
Edinburg, TX 78541
Exceptions may be made for large orders, heavy items, specialty items, etc. Deliveries made to campus/department must be approved by the Purchasing and/or Fixed Assets Departments. Either department may be contacted for assistance with the deliver location. If a Purchase Order is approved to be delivered to a campus/department, the Fixed Assets Department must be notified as soon as the items are received. These items will need to be tagged for inventory purposes. Fixed Assets personnel will tag them on-site.
Delivery of Purchased Assets
As Capital Outlay Items are received at the warehouse, they will be tagged and prepared for delivery to the campus/departments. Campus/departments must be ready to receive (have space available) the items purchased as soon as the Purchase Order is placed. Because of limited storage space, delivery of purchased items must be done as soon as possible. Partially received orders will not be delivered unless requested by the campus/department.
In order to avoid traffic congestions at school campuses, deliveries will be made Monday – Friday, between 8:30 AM and 2:30 PM (3:30 PM for Secondary Campuses). Deliveries may resume at 4:00 PM for Elementary campuses.
Returns for Purchased Assets
If an item needs to be returned/exchanged, the campus/department must contact the vendor and make arrangements for the item to be picked up. The campus/department will be responsible for any costs associated with this process. If the item needs to be returned from the warehouse, notify the Fixed Assets Department and provide the necessary information and documentation (i.e., Return Labels) for the return service. Once notified, the Fixed Assets personnel will pick up the item from the campus/department and ensure that they are ready for shipping. If the exchanged item is received at the campus/department, the serial number must be provide to the Fixed Assets Department so that inventory information can be updated. The replacement item will need to be Tagged.
Campuses/Departments having Equipment and Furniture no longer needed at their location must complete a Transfer Form. All information requested on this form must be provided to ensure inventory information is properly updated. Transfer of Technology related equipment must be approved by the Campus Technology Contact and the Computer Specialist assigned to the Campus/Department by the Technology Department. The completed form must be emailed or faxed to the Fixed Assets Department. The original form must be provided to the staff picking up the equipment and/or furniture.Items to be picked up must be placed in a secured area until the Fixed Assets Department can schedule the pickup. Do not place in hallways, stages, or any other areas where someone could get hurt. Also, do not place in areas used for instruction or other school related functions because the Fixed Assets Department may not be able to schedule a pickup for several weeks.
Equipment and Furniture no longer of any use to the district will be Auctioned off as per Board Policy. Campuses/Departments must follow the Fixed Assets Transfer Procedures to have Equipment and Furniture picked up for disposal.
Copy Paper for Immediate Purchase
The Fixed Assets Department will purchase letter size copy paper (8 ½ x 11) and store at the Warehouse for school district use. Campuses/Departments can purchase the copy paper from the Warehouse by following the Purchase Order Procedures. Use Vendor #23247 (ECISD Warehouse) when generating a Purchase Requisition for copy paper. Obtain the current price for a case of paper by calling the Fixed Assets Department. Order only the amount of cases that can be stored at your Campus/Department. Due to limited storage space, it is very difficult to hold cases of paper in the Warehouse for all Campuses/Departments.
Campuses/Departments needing any other type or size of paper must order it from an approved vendor for Office Supplies.
Campuses/Departments having records that need to be stored at the Warehouse must notify the Fixed Assets Department to schedule a pickup. Records stored at the Warehouse must be placed in Storage Boxes measuring 10"H x 12"W x 15"D. Boxes must be labeled with the contents, date range of records, department, and a destruction date (example). The more information used to label the boxes, the easier it will be to locate a record when needed. The Fixed Assets Department can help with determining the destruction date by using the approved Records Retention Schedule. Once the records have met the required retention period, they will be destroyed by an approved vendor for Document Destruction.
Campuses/Departments having Records/Documents that need to be destroyed must notify the Fixed Assets Department to schedule a pickup. The Records/Documents will be stored at the Warehouse until they can be destroyed by an approved vendor for Document Destruction.
Fixed Assets Inventotry Workflow