Annual Inventory of Fixed Assets

October 17, 2023

What are fixed assets?
Items that will be used beyond one school year.

Items that cost at least $5,000 each.

Land purchases, construction of new buildings, or remodeling projects over

$50,000 each.
What is the process?
The Finance and Technology teams keep inventory of buildings, equipment, and
technology devices. As part of budget reductions, the Finance position was
eliminated on July 5, 2023.

Items are inventoried, added, removed, and depreciated annually.

Depreciation is applied to the annual government-wide financial statements to give

the reader a sense of the cost of using long-term items in addition to the spending
on short-term items/low-dollar items.
What is the process?
Equipment that is being disposed is:

• Offered around the district to other schools

• Auctioned online at publicsurplus.com
• Recycled as scrap metal
• Discarded at the Waste to Energy Center

Received $121,053 last school year in payments for equipment being disposed
Land
Beginning Balance: $9.9m
Additions: $0.3m
Disposals: $0.0m
Ending Balance: $10.1m
Land Improvements
Beginning Balance: $18.1m
Additions: $14.0m
Disposals: $0.6m
Ending Balance: $31.5m
Buildings
Beginning Balance: $411.0m
Additions: $121.7m
Disposals: $6.9m
Ending Balance: $525.8m
Owned Equipment
Beginning Balance: $20.2m
Additions: $3.7m
Disposals: $0.5m
Ending Balance: $23.4m
Leased Equipment & Software
Beginning Balance: $2.3m
Additions: $1.9m
Disposals: $0.2m
Ending Balance: $4.0m
Fixed Assets Totals on June 30, 2023
Land: $10.1m
Land Improvements: $31.5m
Buildings: $525.8m
Owned Equipment: $23.4m
Leased Equipment: $4.0m
Subtotal: $594.8m
Construction in Process: $33.7m new building values not finished by 6/30/23
Total: $628.6m
Depreciation Cost for 2022-2023
Land: $0.0m
Land Improvements: $0.9m
Buildings: $15.5m
Owned Equipment: $1.2m
Leased Equipment: $0.8m
Total: $18.4m
Annual Inventory of Fixed Assets
October 17, 2023