RSCCC Asset Management allows accurate accounting of school districts' capital and inventory assets.Capital asset items include land, buildings, furniture, and equipment.The Asset Management application fixes responsibility for the custody and use of these items and permits the district to hold individuals accountable for items charged to their responsibility.An item is determined to be charged to a particular individual according to its placement in a specific location for which a given individual is responsible.The application is also used to provide current information on the quantity, location, age, and life expectancy of the asset items.
Each district can customize its use of the Asset Management application by indicating what information is to be collected and what catalog and item numbering systems are to be used.As an added control, the system maintains a file of all changes made to inventory records.In this way, administrators can verify the distribution and disposal of fixed asset items.Reports can be printed based on inventory records.This allows for the conducting of a physical inventory of the furniture and equipment items.Inquiries can also be performed of items selected by specified criteria at any time.
GASB 34 compliancy includes depreciation book maintenance as well as depreciation calculations, schedules, distribution codes, and the ability to calculate prior years’ depreciation.
