Transcription of Fixed Asset Management Policy/Procedure
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Fixed Asset Management Policy/Procedure
Fixed Asset Management This policy applies to faculty and staff with responsibility for purchasing, maintaining, or disposing of Fixed Assets, including Department Chairs, Department Heads, and Principal Investigators, as well as central administrative offices. It is necessary for Dickinson College (the College ) to safeguard and maintain its Fixed Assets to receive the maximum benefit from those assets, to comply with College and Federal requirements regarding the use and disposition of Fixed Assets, and to properly account for its Fixed Assets for financial reporting purposes. Acquiring and Financing Fixed Assets The College capitalizes purchases of tangible personal property greater than $5,000 with a useful life greater than one year.
Policy/Procedure . 2 o Library includes books, periodicals, standing orders and journals. Library books and ... protection, public address systems, emergency power systems, etc.) which are included in the asset cost. 3 . ... approved by the Board in accordance with the College’s Debt Management Policy.
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