Fixed Assets• Fixed Asset Procedure

• Physical Inventory Template• Fixed Assets Spreadsheet (Sample)

• Due Dates• Contact Information

Fixed Assets Procedure

Effective July 1

Can be found on SharePoint under Finance in Fixed Assets section

Summarizes the following:

Definition of Fixed Asset

Fixed Asset Classifications

Capitalization Policy

Depreciation

Disposals and Transfers

Physical Inventory Template

Should be kept at the schools’ level

Should be completed at the beginning and end of school year

Summarizes what is in each classroom

Template will allow the District office to know how much physical inventory is located at each school

Appendix C of Fixed Asset Procedure

Document can be found on SharePoint under Finance in Fixed Assets section

Copy of physical inventory will be due Sept. 30th and June 30th of each school year

Fixed Assets Spreadsheet Sample Template

Each school is required to have a updated Fixed Asset Spreadsheet kept at the school level

Should be updated with Additions, Disposals, and Transfers

Sample document, some schools may have spreadsheets

Schools are required to have the same information that is requested in the sample template

Appendix D of Fixed Asset Procedure

Document can be found on SharePoint under Finance in Fixed Assets section

Randomly requested at any time

Fixed Assets Due Date

Sept. 30th – beginning of the year physical inventory

June 30th- end of the year physical inventory

Fixed Asset Spreadsheet can be requested at any time

FY 2015 UTS Visit

UTS is scheduled to visit schools Feb 2nd-20th

Visits will be conducted Mondays-Fridays

Virtual schools tentative dates will not be adjusted

Brick and Mortar Schools are required to have the business day before and after set aside

If UTS is ahead of schedule the District Office’s Assistant Director of Finance will contact each school’s fixed asset point of contact to inform them

Contact Information

Ciera Roper- Assistant Director of Finance

E-mail: croper@sccharter.org

Phone: 803-734-0451