Bulletin One 2012 2013 Final.pdf - Fort Worth ISD

A purchase order must be approved by the Purchasing Department prior to the fixed asset items being
ordered. The ―ship to‖ address should be to the campus directly, unless the nature (size or quantity) of the
order makes this impractical.
The following object codes should be used for the purchase of fixed assets:
6629 - Building Purchase, Construction or Improvements;
6631 - Vehicles per unit cost of $5,000 or more;
6639 - Furniture, Equipment, and Software of $5,000 or more
6659 - Capital Leases, Furniture and Equipment.
Items with a cost value of less than $5,000 should be charged as materials or supplies (object code
63XX), not recorded or depreciated as fixed assets. Lesser cost items such as library books, printers,
calculators and computer labs should be capital assets. Library books and other media and musical
instruments are not considered fixed assets unless they meet the fixed asset criteria listed above.
Expenditures for repairs to equipment and maintenance agreements with outside vendors are not
considered fixed asset expenses and should be coded to object code 6249. Minor software and license
agreements should be coded to object code 6399, unless the unit cost is more than $5,000 and the
agreement is for more than two years.
Fixed assets may be purchased with internal finance funds by purchase order. When purchasing
an item defined as a fixed asset, the account code to use for these purchases is 461-11-66XX-001-
XXX-99-11-542-00000. This account is requested for use through the Budget Department, along
with a transfer of funds from 6399 to cover the purchase.
12.5 Transfer or Retirement of Fixed Assets
The following policy for removal of fixed assets has been established. Types of transfers are:
A. Transfer to another school or location within the District;
B. Transfer to a vendor for repair or replacement; and,
C. Disposal - damaged, surplus, theft.
Transfers are made by completing Form 927 and sending all copies to the warehouse. The Form 927 must
be signed by a principal, director, or any designated person. Fixed Assets are not to be disposed of at the
school site nor removed from the site without a properly completed 927. A copy of Form 927 should be
maintained at the school.
12.6 Donation of Fixed Assets
Whenever a person or an outside organization wants to donate a fixed asset to the District, the donor
should contact the District Grants and Development Department to facilitate the examination of the
requested donation, since it may require insurance coverage or special requirements to use the item.
The basis or value of the donated items will need to be specified at the point of acceptance by the District,
to facilitate proper accounting for the item. A copy of the completed donation document is to be sent to
the fixed asset accountant in the Accounting Department.
12-13 SY Bulletin Number One 116 Revised: 10/9/2012