Once the value of the general fixed asset has been determined, a consistent means of maintaining records should be applied. The following information shall be maintained:

• Major asset class
• Function and activity
• Reference to acquisition source document
• Manufacturer, model number, serial number
• Acquisition date
• Date last inspected
• Name and address of vendor
• Condition
• Short description of asset
• Purchase Order/Contract Number
• Organization unit charged with custody
• Location (department/division, facility, building number, floor)
• Fund and account from which purchased
• Quantity
• Method of acquisition
• Method of depreciation
• Estimated useful life
• Estimated salvage value
• Date, method, and authorization of disposition
• Economic life remaining
• Percent utilized
• Flood code
• Historical code
• Square footage
• Deed number
• Proceeds received upon disposition

Furniture and Fixtures and Machinery and Equipment should be aggregated by agency with each agency responsible for individual details.

Guide to Financial Operations

REV. 12/01/2021