Fixed Assets Overview

Fixed Assets/Equipment Definition

  • Items valued at $1,000 or more, with an expected life of one or more years.

Labeling of Fixed Assets/Equipment

All fixed assets purchased with 21CCLC funds must be properly labeled with the following information:

  • Program Name – School Name (e.g., 21CCLC – Aloha School)
  • Program ID-Budget Fiscal Year (e.g., 18050 – FY17)
  • Serial Number

All fixed assets must also be labeled with an Official HIDOE Decal.

Record Keeping

  • Records of Fixed Assets/Equipment purchases must be maintained throughout the life of the grant and archive requirements.
  • All Fixed Assets/Equipment purchases must match records of purchase (POs, bills, invoices, receipts).

Fixed Assets/Equipment Inventory

Funding source code 13 should be used for fixed assets purchased with 21CCLC funds.

An annual Fixed Assets Inventory is due to CEB by February 15 each year. Schools/sites should insert in this section the most recent inventory of 21CCLC equipment. Refer to: 2 CFR Part 200 - §200.313 Equipment, (d)(1)

  • Management Requirements – Procedures for managing equipment (including replacement equipment) whether acquired in whole or in part under a Federal award, until disposition takes place will, as a minimum, meet the following requirements:
    • Property records must be maintained that include:
    • Description of the property
    • Serial number or other identification number
    • Source of funding for the property (including the Federal Award Identification Number – FAIN: S287C210011 for SY 2021-2022)
    • Who holds title
    • Acquisition date
    • Cost of the property
    • Percentage of Federal participation in the project costs for the Federal award under which the property was acquired
    • Location
    • Use and condition of the property
    • Any ultimate disposition data including the date of disposal and sale price of the property.

Attach the provided cover sheet to school’s Fixed Assets Inventory

HIDOE Operated Programs

  • Schools should follow instructions as stated in the Annual Certification of Inventory memo.
  • In addition to the Annual Certification of Fixed Assets Inventory, HIDOE operated programs must assign an official decal number and submit to CEB the number assigned to each item valued at $1,000 or more purchased with 21CCLC funds.

Non-HIDOE Operated Programs

  • Non-HIDOE operated programs must submit to CEB an itemized list of equipment purchased with 21CCLC funds and request the appropriate number of labels to properly identify each item purchased.
  • CEB will issue programs labels reflecting a unique CEB decal number (used for inventory tracking) for each item purchased
  • Non-HIDOE operated programs must affix an official HIDOE-CEB label to each piece of equipment and record the following:
    • Decal Number;
    • Date Received;
    • Description;
    • Make;
    • Model;
    • Serial Number;
    • Cost; and
    • Location.

Yearly Updates

The equipment inventory is updated each school year.

  • Refer to 2 CFR Part 200 - §200.313 Equipment, (d)(2) Management Requirements
    • Physical Inventory – A physical inventory of the property must be taken and the results reconciled with the property records at least once every two years.

Tracking System

Sign-in and sign-out system for 21CCLC equipment is implemented and monitored.

  • Refer to 2 CFR Part 200 - §200.313 Equipment, (d)(3) Management Requirements
    • Control System - A control system must be developed to ensure adequate safeguards to prevent loss, damage, or theft of the property. Any loss, damage, or theft must be investigated.
      • Theft-sensitive assets are those items identified as portable, desirable for personal use or easily marketable.

Transferring Fixed Assets/Equipment

Transfer of 21CCLC equipment to other 21CCLC schools/sites must be documented. 21CCLC equipment may not be transferred to non-21CCLC schools/sites.

  • Disposition – When original or replacement equipment acquired under a Federal award is no longer needed for the original project/program or for other activities currently/previously supported by federal funds, the disposition of the equipment will be made in accordance with Federal awarding agency disposition instructions:

(e)(1) Equipment with a value less than $5,000 may be retained, sold or otherwise disposed of with no further obligation to the Federal awarding agency;

(e)(2) Equipment with a value greater than $5,000 may be retained or sold – the non-Federal entity may retain $500 or ten percent of the proceeds, whichever is less, for its selling and handling expenses;(e)(3) The non-Federal entity may transfer title to the property to the Federal Government or to an eligible third party – the non-Federal entity must be entitled to compensation for its attributable percentage of the current fair market value of the property; and

(e)(4) When a non-Federal entity fails to take appropriate disposition actions, the Federal awarding agency may direct the non-Federal entity to take disposition actions.

* Non-federal entity (NFE): State, local government, Indian tribe, Institution of Higher Education (IHE) or nonprofit organization that carries out a federal award as a recipient or subrecipient. See 2 CFR 200.1 (section for Local government and section for State).

Possible Evidence

  • DOE Memos and Notices: Year-End Duties of Principals and Summer Duties for Athletic Directors, Administrative Services Assistants, Registrars, Librarians, School Administrative Services Assistants, Head Custodians, and Other Personnel in the Schools – Dated: May 26, 2021
  • Certification of Annual Inventory Report (Principal signature sheet)
  • Updated Fixed Assets Inventory of school/site
  • System of annual review of fixed assets
  • All fields are correctly inputted on the DAFMZ514 - “Fixed Assets Inventory Report School Level” (e.g., serial number, decal number, location, etc.) OR other master inventory list (for non HIDOE 21CCLC sub-grantees)
  • Sign in and out procedures for borrowing equipment
  • Documentation of transfer and/or disposal of any 21CCLC equipment
  • Written Procedures (e.g., transfers, disposal, hold file, and etc.)
  • Protocol for securing theft sensitive items (i.e., video cameras/equipment, computers, televisions, etc.)