Accounting Procedures Handbook

CAPITAL ASSETS 11.5 ASSETS VII. HOW TO RECEIVE A CAPITAL ASSET Receiving on a purchase order that is for a capital asset: You must receive on a purchase order that is for a capital asset one item at a time. This is to allow you to enter the serial number, asset tag number (in the tag field), and school number (in the location field). Do not put anything in the Asset ID field – this field will populate automatically. Report of Capital Assets: You can access a report of your school’s capital assets from the Bookkeepers - GL tab. All you have to do is type in your school number. Asset Additions or Deletions: Please continue to notify me of additions or deletions to the capital asset report by using the Capital Asset Web Form. VIII. GENERAL CAPITAL ASSET POLICY The Superintendent of Schools will establish guidelines to be utilized in the control and accounting for all capital assets of the Wicomico County Board of Education (WCBOE). Capital assets are those assets of a physical nature which have a long-term period of usefulness to the school system. Such guidelines will be subject to review by the WCBOE. They include all land, buildings, furniture and equipment. The guidelines will include the following: