Fixed Asset / Inventory Definitions
Fixed Asset: an asset, tangible in nature, with a true value of $5,000 or more, and having a useful life in excess of one year. Examples of Fixed Assets are land, vehicles, computer servers, etc. Fixed Assets are acquired by purchase, construction, or can even be a donation. Each item that is determined to be a fixed asset item will have a numbered, white label with a red colored bar imprinted with “Property of RRISD” affixed to the unit (examples below).
Inventory Item: an item valued between $1,000 and $4,999.99, as well as the following items regardless of price:desktop computers, laptop computers, tablets, digital presenters, data projectors, and laser printers. Each item that is determined to be an inventory item will have a numbered, white label with a black colored bar imprinted with “Property of RRISD” affixed to the unit. Inventory Items are usually acquired by purchase order or donation.
- Use of P-Cards for inventory items is prohibited.
- Use of Student Activity funds is prohibited.
Funds will need to be transferred to a general fund account, and a purchase requisition would need to be generated if you want to use your student activity funds.
Fixed Asset and Inventory Items Oversight
The administration and oversight of the Fixed Assets and Inventory Items Program resides with the Purchasing Department. A dedicated Fixed Assets Specialist administers and oversees the Program.
All fixed assets will be tagged, recorded, tracked and reported by the Fixed Assets Specialist.
- All fixed asset and inventory item purchases should initially be delivered to the District’s Central Receiving Facility located in the Distribution Center (961).
- If it is impractical to make delivery to Central Receiving (e.g., equipment is to be installed upon delivery, or is too large or fragile to be delivered by Distribution personnel), the receiving party should ensure that the Fixed Asset Specialist is notified.
Any item that cannot be tagged, such as buildings or musical instruments, will be recorded on a Fixed Asset/Inventory Record Card. The tag will be placed on the card, in a campus/department binder retained by Fixed Assets.
Fill out the Fixed Asset and Inventory Transfer Google Spreadsheet and submit it via the Online form
All items that have, or should have, a Round Rock ISD inventory tag should be listed on the form.
Items requiring tags include any item that initially cost over $1,000, and the following items regardless of cost:
- Desktop Computers
- Laptops / Chromebooks
- Laser Printers
- 3D Printers.
Once received, it will be processed by Fixed Assets and you will be sent a tracking number.
Warehouse staff will pick-up your items as their schedule allows.
Ensure that all of your items are ready to be picked up and clearly labeled in case you aren’t available.
All small items need to be in boxes (including cables and flat panel displays).
Make a copy of the template and complete all applicable contact and item information.
Upload the form electronically via the Upload Form
This form must be completed and submitted to the Fixed Asset Specialist before any tagged property can be sent to the Brushy Creek Distribution Warehouse for reuse, recycling, or resale as Surplus Property.
The form must also be used when tagged items are transferred from one location code in the District to another location code in the District.
NOTE: The form is not to be used for pick-up or disposal of any other types of items.
- The sending Campus/Department (“owner”) is to complete all applicable contact and item information.
- Upon receipt, the Fixed Asset Specialist will review the form for completeness, send a copy to the department head and if approved, provide the owner a work order number.
- The Fixed Asset Specialist will create a work order for pick-up of the items by Distribution.
- The owner shall secure the item in the location indicated on the form for pick-up.
The Fixed Assets Specialist will conduct physical inventories of the District’s fixed assets and inventory items on a periodic basis. At times, the campus may also be asked to assist in inventorying assets in their possession.Inventory Schedule
The Fixed Asset Specialist will conduct a periodic revolving inventory of all fixed asset and inventory items. This inventory will take place during Upon the completion of each inventory, the campus/department will be provided with a Missing Asset Report, and given the opportunity to find or explain any missing assets. Once the Missing Asset Report is returned to the Fixed Asset Specialist, a final report will be provided to the campus, the Director of Purchasing, and the CFO.
Additional Annual Inventory of Fixed Assets
Fixed Assets will also be inventoried on an annual basis. Inventories will be conducted before the end of the school year either by the Fixed Asset Specialist, or by campus/department personnel as directed. All discrepancies will be reconciled at the completion of the inventory and missing items will be reported in accordance with established policies and procedures.
Property no longer needed by a campus/department becomes surplus. If the administrator is aware of a need for this property elsewhere in the school district, the campus/department may make arrangements to transfer the property to that location. If a need for the property is not known, it should be transferred to the Surplus Property Warehouse.
Once items have reached their “end-of-useful-life” (as determined by Director of Purchasing), the items will be classified as disposed property. District Policy CI (Local) states that:
- Whenever an item of equipment is deemed to be obsolete or unfit for use, such equipment may be disposed of on a competitive basis, either by trade-in or outright sale to the highest prospective buyer.
- Items that cannot be sold in their original form, or lose their identity while in the possession of the District, may be sold as scrap, if deemed advisable, at the highest obtainable offer.
- The determination of the highest prospective buyer shall be made with the approval of the Superintendent or an authorized representative.
- The Director of Purchasing coordinates a public sale of disposed property once a year, or more frequently if required, to sell any items that are no longer needed by the district. All campuses/departments will be notified of the sale. Employees of the district will be permitted to purchase items at the sale on the same basis as all other buyers.
Fixed Asset or Inventory items must be removed from the district’s Inventory prior to disposal
Items should never be discarded at the campus/department level. Instead, items should be transferred to the Surplus Property Warehouse where they will then be sold in a Surplus Sale or discarded per instructions from the Director of Purchasing.
Since there are many contributors to a Surplus Sale, proceeds are pooled and are not returned to any particular school/department’s budget.
Call the District’s Fixed Assets Specialist at 512-464-6955 or email with any questions about Surplus Property or how to dispose of fixed assets or inventory items.
District Policy CMB (Local) provides the guidelines for uses of District equipment and supplies. The following is a summary of those instructions:
Equipment of $5,000 or less in value
Equipment owned/leased by the District shall be used only for the accomplishment of school objectives and may not be removed from the assigned premises except for school-related activities.
An employee may remove District owned/leased equipment for school use or instructional purposes with the approval of his/her immediate supervisor. A custody receipt is to be completed, approved by the supervisor and retained by the supervisor until the property is returned. The supervisor is accountable for the equipment and the employee checking out the equipment is responsible for the repair and/or replacement if the equipment is abused, vandalized, or stolen.
Equipment may be loaned to service clubs, churches, and similar non-profit or not-for-profit organizations with the approval of the Superintendent or designee. The same guidelines shall be followed as listed above.
Equipment in excess of $5,000 in value
Equipment in excess of $5,000 can be loaned by approval of the Director of Purchasing AND with documentation by contract.
For fixed assets or inventory items that were lost, stolen or destroyed, the following procedures will be used by Fixed Assets to remove a fixed asset/inventory item from the records:
When an item is stolen, destroyed by vandalism, etc. the responsible school/department should complete a Loss Report as the primary documentation. The Loss Report should be sent to the Safety and Risk Management Manager, who will record the loss and determine if any insurance claim action is required. The Safety and Risk Management Manager then forwards the report to Fixed Assets. See the “Loss” web page within the FIRM for additional information.
Items that have been reported “lost” or “missing” by a school/department are flagged as “lost items” on the organization’s inventory for a two (2) year period. This allows time for the item to “reappear.” After the two-year time period has elapsed, if the item has not been located it will be removed from the inventory.
|Item||$0 – $999||$1000 – $4999||$5000+||Not Tagged
|Apple iPods: MP3 players||Not Tagged||6397|
|Cameras: DSLR / Video||Not Tagged||6395||6635||6399|
|Computer: Desktop / Mac||6395||6395||6635|
|Document Cameras||Not Tagged||6397|
|Printers: Inkjet||Not Tagged||6397|
|Printers: Laser over $500||6395||6395||6635|
|Printers: Laser under $500||Not Tagged||6397|
|Tablets: iPads, Galaxy etc||6395||6395|
|Television (No Network Connection)||Not Tagged||6395||6639||6399|
|Television (With Network Connection)||Not Tagged||6395||6635||6397|
|Vehicles over $5000||6631|