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Business Services Guide

Fixed Assets & Surplus

What Is a Fixed Asset?

A fixed asset is a long-term asset with a useful life of more than one year.  A fixed asset is any asset (e.g. buildings, furniture, or equipment) that has an initial purchase price of $5,000 or greater, and which is depreciated over its useful life.  Fixed assets are also known as property, plant, and equipment (PP&E) or capital assets. 

At the time of procurement, fixed assets are identified in Banner by the account code field with a “05” suffix.  For example, an asset less than $5,000 would be recorded against account code 6401.  An asset with initial purchase price of $5,000 or greater would be recorded against account code 640105.  Banner reads the suffix “05” and creates a temporary fixed asset tag.  Upon receipt of the item, the warehouse affixes a permanent tag to the fixed asset.  The number on this tag becomes the permanent identifying number for this item.  The warehouse employee then updates Banner with the serial number, description, and location of the item.

When the physical inventory is performed biennially, the information in Banner is used to locate and identify district property. 

Fixed Asset Equipment Moves

If a fixed asset needs to be moved, the end user needs to fill out an Equipment Transfer form and forward to the college warehouse. District employees should forward the form to the Business Services Senior Administrative Assistant.  This process is to ensure that Banner is updated with the fixed asset’s correct location.  If help is needed to move the equipment/furniture, please place a work order with M&O through School Dude http://www.clpccd.org/facilities/AboutMandO.php to coordinate the move.  (Warehouse staff do not relocate property.)

Any move of surplus items or items being moved to the Warehouse/Butler Building for storage should be coordinated with the Warehouse staff.

Surplus Procedures

For questions regarding the CLPCCD surplus procedures, please see the guide here:  The Surplus Policy and Procedures.

To surplus furniture and equipment, please follow these steps:

In addition, for any fixed asset (tagged item over $5,000), once the Board approves the disposal, the item is then removed from the Banner System.

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 Daniela Ballif if you have questions regarding Fixed Assets and Surplus at (925) 485-5231.