Business Office Operations » Fixed Assets

Fixed Assets

MISSION

The mission of the Mercedes Independent School District (MISD) Fixed Assets Services is to support the district in its dedication to "Achieving Excellence Today for a Successful Tomorrow," by ensuring the proper accounting and financial reporting for the acquisition of MISD fixed assets in compliance with District, State and Federal guidelines.
OPERATIONS

Any district item with a value of $500.00 or more is considered a fixed asset. All district assets must be tagged with a district number and monitored in the subsidiary ledger and reconciled with the general ledger. All assets are maintained and controlled until the asset is sold, lost, or destroyed. The fixed assets personnel, conduct a yearly physical inventory of all assets and reconcile their results with the Business Office.
PROCEDURE

​1. Each campus/department is assigned a person that is responsible for fixed assets.
2. Each campus/department then receives a printout of all fixed assets that are assigned or delivered to that site.
3. The designated individual responsible for fixed assets at each campus/department does the following:
  • Monitors the movement of fixed assets and completes transfer forms as needed and change of location(s) as needed.
  • Signs for all fixed assets delivered to that respective location.
  • Assists the Fixed Assets Supervisor with the physical inventory.
4. All items on the fixed assets printout need to be accounted for as either located, lost, destroyed, or sold at auction and proper documentation must be noted.
5.The results of the physical inventory are then reconciled with the Business Office.
CONTACT US
 
MISD FIXED ASSETS
956.825.5094