The Board of Education in its intent to establish a policy for the accounting for fixed assets for the district provides the following guidelines:

Assets with an original cost of $2,500 or more and a useful life in excess of one year will be inventoried, capitalized and depreciated.

The Straight-Line Depreciation method will be used for all capital assets.

A schedule of asset inventory, acquisitions, dispositions, current year and accumulated depreciation, and net book value of capitalized assets should be maintained by the District Treasurer and updated and reconciled to district accounting records no less than annually.

Amended by the Board of Education, June 28, 1999
Amended December 3, 2007