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Business Services Guide

Fixed Assets & Surplus

What Is a Fixed Asset?

A fixed asset is an asset of a permanent characteristic having continuing value, e.g. good, material, furniture, or equipment, that has a unit value of $5,000 or greater, which is depreciated over its useful life.

At the time of procurement, fixed assets are identified in the account code field with a "05" suffix. For example, equipment less than $5,000 would have a code of 6401; equipment $5,000 or greater would have a code of 640105. This suffix enables Banner to create a temporary fixed asset tag. Upon receipt of the item, the warehouse professionals affix a permanent tag, which is updated in the Banner system.

The fixed asset is identified in the Banner system with its permanent tag number, serial number, description, and location. This information is utilized for physical inventory. In order to ensure the Banner system reflects the correct location, an Equipment Transfer form must be used when equipment is relocated.

Equipment Moves

Complete the Equipment Transfer form if you want to move equipment from one location to another and submit the form to Purchasing. Equipment is moved by the Maintenance & Operations Custodial professionals. Enter a work order with Maintenance & Operations if you would like to move equipment from one location to another.

Surplus Procedures

The Surplus Program Policies and Procedures document is available on the CLPCCD Business Services/Purchasing web site.

For all furniture and equipment under $5,000, the following must occur:

For all fixed assets (items tagged $5,000 or greater), the following must occur:

Pursuant to Government Code section 1090, except for surplus equipment, sales of district property to board members and district employees are prohibited.

Contact Information

Please contact Ronald Gerhard if you have questions regarding Fixed Assets and Surplus at (925) 485-5253.