Asset Services performs on-site physical inventories of fixed assets and major movable equipment for educational organizations such as universities, colleges, public school districts, private schools, and charter schools. Our trained inventory specialists will search behind every door and in every closet to identify equipment and capture descriptive data pertaining to each asset.
Public education institutions are also accountable to the State Auditor and—most importantly—local taxpayers.
Educational organizations are required to provide accurate financial reports on an annual basis. An accurate fixed asset ledger is an integral part of that financial report, as it identifies current assets and their worth.
Considering today's technology, the worth of these assets is ever-increasing.
Twenty years ago, what would you find in a classroom? Some desks and an overhead projector? How about now? Computers, laptop carts, smart boards, document cameras, tablets, and more.
The scope, value, and volume of these assets is far greater than what it used to be, and having an accurate accounting of these assets is crucial.
A wall-to-wall inventory will identify all assets that an organization physically has on-hand. This will enable the organization to ensure they are properly insured for contents.
An accurate inventory report can be used to identify and plan for future equipment purchases.
During an inventory, an organization may locate assets that were assumed to be lost. They may also identify assets that are no longer in use, thereby allowing for items to be sold or auctioned.
Educational organizations purchase and receive assets. The asset information is then typically sent to the finance department to be entered into the fixed asset ledger and/or general ledger, where depreciation is set up. Then, on an annual basis, depreciation is calculated. Items are assumed to still be owned by the district.
If you assume from year-to-year that your asset list is accurate without verifying it, the ledger could become more and more inaccurate.
An accurate physical inventory will ensure accurate records and proper insurance coverage. A wall-to-wall inventory will provide you with a virtual plan for replacing damaged or destroyed equipment. It will also provide the organization with accurate records to provide to the insurance company to facilitate claims processing.
Disaster PreparednessAsset Services specializes in inventories for public, charter, and private schools and school districts at all levels, as well as colleges and universities, but we can also go beyond the usual fixed assets of the educational landscape.
Our familiarity with IT equipment enables us to assess not only classroom technology, but networking and communications equipment as well. Our experience in building mechanical inventories gives you the option of capturing your MEP fixtures or safety equipment. We are able to capture and catalog your kitchen and cafeteria equipment, health and fitness equipment, and fixed assets used in music, theatre, and other arts programs.
Our Inventory Specialists are also proficient in identifying technical and vocational equipment such as manufacturing equipment, automotive, wood, and metal shop equipment, as well as medical and dental equipment. Experience working in all of these sectors gives our Inventory Specialists the unique qualification of being able to accurately identify virtually any class of assets that you would like us to inventory.
We take great pride in our ability to perform an inventory with little disruption to the educational process.
