DID - Fixed Asset Inventories

Code: DID
Readopted: 5/15/17
Adopted: 12/13/04
Orig. Code(s): DID

The district shall maintain a formalized program of accountability and controls over district fixed assets. The purpose of the inventory will be to satisfy financial and insurance reporting requirements to aid the administration of district fixed assets.

Fixed assets includes all district-owned property such as land, buildings, improvements to property other than buildings (i.e., parking lots, athletic fields, playgrounds, etc.) and equipment with a value greater than $5,000 as defined by the Program Budget and Accounting Manual, published by the Oregon Department of Education.

The inventory shall be reviewed annually by the individual schools or departments.

The criteria for maintenance of a formalized inventory of fixed assets shall be maintained in the administrative regulations.


Legal Reference(s):
ORS 332.155

Or. Dep’t of Educ, Program Budget and Accounting Manual.

Cross Reference(s):
DN - Disposal of District Property