Inventory/Fixed Assets

                                                                        Assets

Director of Accounting                               Anna Winand         713-740-0001

Staff accountant                                       Barbara Grimes      713-740-0002

Secretary, Director of Accounting                 Elsie Cobb             713-740-0012  

Assets in our Lawson System are broken down into two groups:

Capital Assets and Inventory Assets

Capital Assets are identified according to the guidelines set forth in the Financial Accounting Resource Guide (FAR). The requirements are as follows:

·         is tangible in substances and nature

·         has an estimated useful life of one (1) year or more

·         is physically separate and identifiable from other assets

·         has a dollar cost of $5,000 or more and is controllable through a physical inventory

·         has a dollar cost of less than $5000 but is paid from 6XX Fund Code

Inventory Assets are assets that the district has designated to capture for internal control purposes. Those assets are between $500 - $4999 and are included on the Inventory Asset Catalog Report.

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Last modified: 07/12/07