Definition. Fixed Assets refers to the land, buildings, improvements, machinery, equipment, furnishings, facilities, property, and other resources purchased or otherwise acquired by the District to be utilized in accomplishing the District’s goals for a period of time that extends beyond one budget period.
District personnel are responsible to the Board for the safeguarding, stewardship, efficiency, effective use, and accountability for fixed assets under their control.
The purchase or acquisition, use, and disposal of all fixed assets shall be in accordance with District policies and applicable laws and regulations.
The use of fixed assets may be extended to persons or groups not directly related to or under the jurisdiction of the District provided that such use is compatible with the District established rules and regulations. (6-18-02)