Fixed assets are defined as those tangible assets of the District with a useful life in excess of one (1) year that the District intends to hold or continue in use over an extended period of time. Such fixed assets have an initial cost equal to or exceeding $2,500. This threshold amount shall be reviewed annually to determine whether modification to the amount is necessary.

Although some assets may not meet all of the criteria for "fixed" assets, they shall be identified as "controlled" assets and recorded in the same manner as other assets on the fixed asset system.

A request for asset disposal (Form 7455 F1) is to be submitted to the Business office. The Business office takes all disposals to the Board for approval. Once Board approval is granted, assets are disposed of and items removed from inventory.