Fixed Assets
Department No. 736

MISSION, GOALS, AND OBJECTIVES (Must be aligned with Campus Improvement Plan and Needs Assessments)

Mission:

The mission of the Laredo Independent School District’s Assets Management Department is to provide accountability for the fixed assets of the District which in turn allows the department to give campus administrators and directors up–to-date information concerning their fixed assets in an efficient and productive manner.

Goals:

1. To balance the fixed assets subsidiary ledger to the general ledger.
2. To conduct annual inventories.
3. To provide for sound management practices to ensure the integrity of control over the District’s fixed assets.

Objectives:

1. To move forward on implementing necessary policies and procedures to support the mission of the school district.
2. To eliminate any discrepancies noted in the Letter to Management concerning the reconciliation of the District’s fixed assets between the General Ledger and the Subsidiary (Detail) Ledger.
3. To provide reliable records which detail fixed asset transactions in an orderly fashion.
4. To provide for the timely reconciliation of the district wide physical inventory.
5. To provide support to the schools and departments in their efforts to maintain good internal control over the fixed assets assigned to them at their respective campuses/departments.
6. To provide for the timely removal of fixed assets from the school and departments as requested by them with the cooperation of their respective custodial staff.
7. To continue to develop ways to automate processes in order to realize savings to the District.
8. That depending on human resources available at the time of request, a 24-hour response time is achieved.
9. That a fixed assets manual be developed and implemented.
10. That the department supports the budget and accounting process effectively by providing information as requested.
11. That the web page for information on the department be updated.
12. That an annual review of systems be made to document the system flow chart.
13. That the district implement an effective maintenance and operations training program for the department.

 Strategy ( ies ):

1. To make timely updates to the master file of fixed assets on reports filed by the schools/departments in regard to properly executed requests for permanent transfer, disposal, burglary, vandalism, other loss, equipment checkout or miscellaneous changes occurring at the campus/department.
2. To conduct spot checks at the schools/departments to ascertain the accuracy of information maintained in the master file of fixed assets.
3. To prepare time lines for the schools and departments so that they may coordinate with their custodial staff as to the timely removal of fixed assets for disposal.
4. To conduct timely public auctions of disposal of fixed assets so as to efficiently render the department space to pick up new requests, while allowing the District to collect funds that could be used to acquire new fixed assets.

Performance Evaluation:

The Director of Division of Operations evaluates performance of the Fixed Asset Department in order to meet the demands placed on the department. A performance review is done periodically by the Fixed Asset Coordinator. The personnel of the department will be evaluated annually by the Director of Division of Operations.

Significant Changes from previous year:

This year, RCI Technologies was contracted by the school district to do a follow up inventory of all furniture and equipment in the district. The Fixed Asset Department and the Financial Management Department will reconcile the subsidiary and general ledger on a monthly basis.