D1310 - Fixed and Attractive Assets

Fixed assets are defined as the initial, additional, and replacement items of equipment. An equipment item is a movable or fixed unit of furniture or furnishings, an instrument, a machine, vehicles, buildings, improvements, an apparatus, or a set of articles that meets all of the following conditions:

1. It has an anticipated useful life of more than 1 year.
2. It is of significant value (See the Financial Procedures for Schools and Departments), measured as original cost or estimated market value (in the case of donated items.) See Section D1320 for information on Equipment Purchased with Federal Funds.
3. It retains its original shape and appearance with use.
4. It is nonexpendable; that is, if the article is damaged or some of its parts are lost or worn out, it is usually more feasible to repair it than to replace it with an entirely new unit.
5. It does not lose its identity through incorporation into a different or more complex unit or substance.

Attractive assets are defined as those initial, additional, and replacement items of equipment that do not meet the above definition, but are movable and valuable. Attractive assets include, but are not limited to, computers and computer equipment, communication devices, and other items of a technical or non-technical nature that are movable and valuable. Directors and building principals are required, to inventory computers and computer equipment.

For information on recording and reporting of District asset see the Financial Procedures for Schools and Departments.