The Round Rock ISD Capital Assets program is designed to assist with purchasing, recording and auditing of assets acquired and owned by the District. This ensures proper tracking of assets from time of acquirement to retirement supporting proper use of taxpayer funding. These items include land purchases and improvements, building purchases and improvements, vehicles, equipment and technology equipment.
Capital Asset
An asset, tangible or intangible in nature, used in operations with a true value of $5,000 or more at time of purchase and having a useful life of more than one year.
Examples of capital assets are land, buildings, vehicles, equipment and technology equipment. Capital Assets are acquired by purchase, construction, or donation.
Each item that is determined to be a capital asset item will have a numbered barcode tag imprinted with “Property of Round Rock ISD” affixed to the item:
Capital Asset Oversight
The administration and oversight of the Capital Assets Program resides with Accounting in the Finance Department. Capital asset records provide the basis for adequate insurance coverage and records to furnish taxpayers with information about their investments in the district.
- Use of P-Cards for capital assets items is prohibited.
- Upon invoice payment of a capital asset, the Accounting department will create the asset in the finance system and mail the purchaser the barcode tag to affix to the item. Instructions will be included with the tag.
Any item that cannot be physically tagged, such as buildings or intangible items, will still be recorded in our Capital Asset Module within our financial system.
Campus Inventory Audit
Assets must be inventoried to comply with state and federal guidelines. Capital assets inventory purposes establish a system of accountability for custody of items and allows the district to survey the physical condition of its assets to determine need for repair, maintenance or replacement.
Inventory Schedule
At least once every two years, the campus will be asked to inventory capital assets in their possession using a list sent from Accounting. All discrepancies will be reconciled at the completion of the inventory and missing items will be reported in accordance with District established policies and procedures. Once the inventory lists are returned to Accounting, a final report will be provided to the Accounting Manager, Finance Director, Chief Financial Officer, and the Distribution Manager. Accounting will conduct physical inventories of the District’s capital assets on a periodic basis.
Gift/Donation of an Asset
All donated capital assets become property of Round Rock ISD. If a campus or department receives a donation, a completed Equipment Donation Form must be emailed to Capital Assets.
Property Transfer / Surplus Turn In
The Capital Asset Transfer Form must be completed and emailed to Capital Assets 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.
End User Instructions
- Open Capital Asset Transfer Form.
- Complete all applicable contact and item information. All items with an acquisition cost of $5000+ with a Round Rock ISD ‘Red Lined Barcode’ tag, need to be listed individually on the form.
- Select “File and Share” the completed form with Capital Assets.
- All small items need to be in boxes (including cables and flat panel displays).
- Please ensure that all of your items are ready to be picked up and clearly labeled in the case you are not available.
Once this form is received and processed, you will be emailed a work order number. Distribution will pick up your items as their schedule allows.
Property Disposal
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 should complete the Capital Asset Transfer Form. If a need for the property is not known, it should be transferred to the warehouse as surplus property.
Capital assets must be removed from the district’s inventory in the finance system prior to disposal. Items should never be discarded at the campus/department level. Instead, items should be transferred to the warehouse where they will then be sold in a surplus sale or discarded per instructions from the Distribution Manager.
Once items have reached their “end-of-useful-life” (as determined by Accounting), 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.
NOTE: Surplus sale proceeds are pooled and are not returned to the campus or department’s budget.
Use of Equipment and Supplies
The Employee Handbook provides the guidelines for uses of District equipment and supplies.
Lost / Stolen / Destroyed Items
When an item is stolen, destroyed by vandalism, or lost, the responsible campus/department should complete a Loss Report as the primary documentation and send it 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 Accounting.
Items that have been reported “lost” or “missing” by a campus/department are flagged as “lost items” on the organization’s inventory for a two (2) year period. This allows time for the item to be found. Items not located within the two-year period will be removed from Round Rock ISD records in the finance system.
Account Codes
The tracking of a capital asset begins with the requisition and must be coded to the appropriate object code based on the type of asset being purchased.
Capital Assets with a Per-Unit Cost of $5,000 or more
6619 – Land Purchase or Improvements
6629 – Building Purchase, Construction, or Improvements
6631 – Vehicles with a Per-Unit Cost of $5,000 or more
6635 – Technology Equipment with a Per-Unit Cost of $5,000 or more (require Technology approval)
6639 – Furniture and Non-Technology Equipment with a Per-Unit Cost of $5,000 or more
Grouped Capital Assets with a Per-Unit Cost less than $5,000 and an Aggregate Cost of $1,000,000 or more (effective 7/1/2024)
6645 – Grouped Technology Equipment (require Technology approval)
6649 – Grouped Furniture and Non-Technology Equipment
Right to Use Leased Assets valued at $100,000 or more (effective 7/1/2022)
6651 – Right to Use Leased Buildings
6654 – Right to Use Leased Vehicles
6655 – Right to Use Leased Technology Equipment (require Technology approval)
6659 – Right to Use Leased Furniture & Non-Technology Equipment
Subscription-Based Information Technology Arrangement (SBITA) Capital Assets valued at $100,000 or more (effective 7/1/2023)
6658 – SBITA Assets
For questions regarding capital assets, please call Accounting at 512-464-5966 or email Capital Assets.