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  1. Capital assets management.
    1. The Board Secretary, will:
      1. Conduct the capital assets physical count;
      2. Develop the capital assets listing;
      3. Tag capital assets included in the capital assets management system with a bar code identification number;
      4. Make a recommendation of a computer software program for managing the capital assets management system;
      5. Enter the necessary data into the capital assets management system and compile the appropriate reports;
      6. Develop forms and procedures for maintaining the integrity of the capital assets management system; and
      7. Maintain responsibility for an accurate capital assets management system.
  2. Determining historical cost.
    1. The historical cost of a capital assets is based on the actual costs expended in making the capital assets serviceable.
    2. Gifts of capital assets are valued at the estimated fair market value on the addition/acquisition date.
    3. Capital assets purchased under a capital lease are given an historical cost of their net present value of the minimum lease payments on the addition/acquisition date.
    4. The historical cost of capital assets in the proprietary funds must include capitalized interest and infrastructure.
  3. Annual capital assets listing reconciliation.
    1. The Board Secretary will conduct an annual capital assets physical count to develop the annual capital assets listing.  At least every three years, someone other than the person in custody of the capital assets in the building/department/room will perform the capital assets physical count for the building/department/room.
    2. Upon completion of the annual capital assets listing, the capital assets listing is reconciled to the capital assets management system data base.
    3. Capital assets found to have been excluded from the data base are added to the capital assets management system.  The capital assets management system process is reviewed to prevent future incidents of excluding a capital asset.
    4. Capital assets unaccounted for are reported to the Board Secretary who contacts the supervisor of and the employee/person in charge/control/custody of the capital asset.  The employee/person in charge/control/custody of the capital asset has thirty days to account for the capital asset.
    5. Capital assets unaccounted for after thirty days are reported to the superintendent for appropriate action and documentation.  “Appropriate action” may include discipline, up to and including discharge, and may require the employee/person in charge/control/custody of the capital asset to replace the capital asset.
    6. The Board Secretary is responsible for documenting the reasons each capital asset was not reconciled to the capital assets management system.
  4. Addition/acquisition of capital assets.
    1. The District’s required purchasing administrative regulations and procedures must be followed when acquiring capital assets.  The District’s required administrative regulations and procedures must be followed for receiving a gift of capital assets.
    2. The capital assets Addition/Acquisition Form must be completed for each additional capital assets with an addition/acquisition cost of equal to or greater than $5,000.  The following information must be collected:
      1. Name of location‐building/department/room;
      2. Location‐building/department/room code;
      3. Balance sheet accounting/class code;
      4. Program;
      5. Addition/acquisition date;
      6. Check/purchase order number or gift;
      7. Bar code identification number assigned to and placed on the capital asset;
      8. Serial/model number;
      9. Cost‐historical;
      10. Fair market value on acquisition date (donated capital assets only);
      11. Estimated useful life;
      12. Vendor;
      13. Purchasing fund and function;
      14. Description of capital asset;
      15. Department/person charged with custody;
      16. Method of addition/acquisition‐purchase, trade, gift etc.;
      17. Quantity;
      18. Replacement cost;
      19. Addition/acquisition authorization; and
      20. Function for depreciation.
  5. Relocation/transfer of machinery and equipment capital assets.
    1. A capital assets relocation/transfer documentation must be completed prior to removing machinery and equipment capital assets from their current location.  The following information must be collected:
      1. Relocation/transfer date;
      2. Quantity;
      3. Bar code identification number;
      4. Current location‐building/department/room code;
      5. Name of current location‐building/department/room;
      6. New location‐building/department/room code;
      7. Name of new location‐building/department/room;
      8. Date placed at new location‐building/department/room;
      9. Department/person charged with custody; and
      10. Relocation/transfer authorization
  6. Disposal of capital assets.
    1. A capital assets Disposal Form must be completed prior to disposing of capital assets.  The following information must be collected:
      1. Disposal date;
      2. Quantity;
      3. Bar code tag identification number;
      4. Legal description;
      5. Location/address;
      6. Purchaser;
      7. Disposal method‐junk, trade, sale, trade‐in, etc.; and
      8. Disposal authorization.
  7. Lost, damaged or stolen capital assets.
    1. A Lost, Damaged or Stolen capital assets Report must be completed when a capital assets has been lost, damaged or stolen. The following information must be collected:
      1. Date of loss, damage or theft;
      2. Employee/person discovering;
      3. Quantity;
      4. Description of capital asset;
      5. Bar code tag identification number;
      6. Location‐building/department/room;
      7. Description of loss, damage, etc.;
      8. Filing of police report‐yes or no;
      9. Filing of insurance report‐yes or no;
      10. Sent for repair‐yes or no;
      11. Date returned from repair;
      12. Date returned to location‐building/department/room;
      13. Department/person charged with custody; and
      14. Authorization.
  8. Capital assets reports.
    1. Annual reports for June 30 each year.
      1. Capital assets listing including the following items for the school auditor:
        1. Balance sheet accounting/class code;
        2. Purchasing fund;
        3. Bar code tag identification number;
        4. Description of the capital asset;
        5. Historical cost;
        6. Location;
        7. Current year depreciation expense; and
        8. Accumulated depreciation/amortization.
      2. Capital assets listing by location/building;
      3. Capital assets listing by department/employee/person charged with custody; and
      4. Capital asset listing by replacement cost.