Butte School District
Financial Management
7510
Capitalization Policy for Fixed Assets
A fixed asset is a property that meets all the following requirements.
Must be tangible in nature.
Must have a useful life of longer than the current fiscal year.
Must be of significant value.
Fixed assets may be acquired through donation, purchase, or may be self-constructed. The asset value for donations will be the fair market value at the time of donation. The asset value, when purchased, will be the initial cost plus the trade-in value of any old asset given up, plus all costs related to placing the asset into operation. The cost of self-constructed assets will include both the materials used and the cost of labor involved in the construction of the asset.
The following significant values will be used for different classes of assets:
Class of Fixed Asset |
Significant Value |
||
---|---|---|---|
Equipment and machinery |
$5000.00 or more |
||
Buildings - Improvements |
$5000.00 or more |
||
Improvements other than buildings |
$5000.00 or more |
||
Land |
Any amount |
Cross Reference:
7500 Property Records
Policy History:
Adopted on: 10/18/04
Revised on:
- 7000 - Goals
- 7110 - Budget & Program Planning
- 7121 - Budget Adjustments
- 7210 - Revenues
- 7220 - Use of Federal Title I Funds
- 7225- Crowdfunding Proposals (opens in new window)
- 7251 - Disposal of School Property Without a Vote
- 7260 - Endowments, Gifts & Investments
- 7301 - Travel Authorization (opens in new window)
- 7310 - Budget Implementation & Execution
- 7320 - Purchasing
- 7325 - Accounting System Design
- 7326 - Documentation & Approval of Claims
- 7329 - Petty Cash Funds
- 7332 - Advertising in Schools/Revenue Enhancement
- 7335 - Personal Reimbursements
- 7336 - Travel Allowances & Expenses
- 7400 Credit/Procurement Card Use
- 7410 - Fund Accounting System
- 7425 - Extra- and Co-Curricular Funds
- 7430 - Financial Reporting & Audits
- 7500 - Property Records
- 7500F Property Records
- 7500P - Property Records
- 7510 - Capitalization Policy for Fixed Assets
- 7515 - Financial Management
- 7520 - Independent Investment Accounts
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