I. BUDGET & FISCAL OPERATIONS
	II. TRANSPORTATION
	III. FOOD SERVICE
	IV. CUSTODIAL SERVICES

I. BUDGET & FISCAL OPERATIONS
IA. Budget Preparation. This Article is currently empty. It is intended for future use.

 IB. Record Keeping & Accounting Procedure
IB1. Fixed Assets Capitalization Policy (adopted 12/19/96)
The School City of Hobart shall have a complete inventory of all fixed assets owned by the school corporation. The inventory will reflect the acquisition value of all fixed assets and will be recorded in a manner which complies with directives of the State Board of Accounts of Indiana. The inventory of fixed assets will be updated on a regular basis as directed by the Superintendent with a complete inventory taken every two years to provide internal control and verify account balances carried in the fixed asset accounting records.

 The fixed asset inventory and accounting system will apply to each of the following categories of assets, and the identified cost threshold for each category will be applied:

 Land: The fixed asset records of the School City of Hobart shall reflect land owned, its location, its acquisition date, and the cost (purchase price) of the property. If the purchase price of the property is not available, appraised value of the land may be used. The threshold for land owned by the School City of Hobart shall be $500.00.

 Buildings: The fixed asset account for buildings shall reflect the location of each building, the cost value of the building, and the cost of improvements, if applicable. If a building is acquired as a gift or if the cost is not available, the account shall reflect the building’s appraised value. The threshold for buildings owned by the School City of Hobart shall be $500.00.

 Improvements other than Buildings: A fixed asset account shall reflect the acquisition value of permanent improvements, other than buildings, which have been added to the land. Examples of such improvements are fences, retaining walls, sidewalks, gutters, tunnels, and bridges. The improvements shall be valued at the purchase or construction cost. The threshold for improvements other than buildings owned by the School City of Hobart shall be $500.00.

 Equipment: Tangible property of a permanent nature, other than land, buildings, and improvements, shall be included in a fixed asset inventory. Examples of equipment to be included in the fixed asset inventory include machinery, trucks, school buses, furniture, and technology related items. The value of equipment items shall be carried in the inventory at the purchase cost. All technology and technology related equipment (by definition this shall include all equipment utilized in instructional programs and in the administration of the school corporation that requires an electrical plug to use) shall be included in the fixed asset inventory, regardless of cost. The threshold for equipment items owned by the School City of Hobart shall to $500.00.

 Construction Work in Progress: Where construction work has not been completed in the current calendar year, the cost of the project shall be carried as “construction work in progress” in the fixed asset inventory. When the project is completed, it will be placed on the applicable inventory of the fixed asset inventory. The threshold for construction work in progress for the School City of Hobart shall be $500.00.

 IC. Audits. This Article is currently empty. It is intended for future use.

 ID. Purchasing. This Article is currently empty. It is intended for future use.

 IE. Borrowing This Article is currently empty. It is intended for future use.

 IF. Investing This Article is currently empty. It is intended for future use.

 IG. Inventories & Appraisals This Article is currently empty. It is intended for future use.

 IH. Extra-Curricular Funds in Buildings. This Article is currently empty. It is intended for future use.
 
 

II. TRANSPORTATION
This Article is currently empty. It is intended for future use.

III. FOOD SERVICE
This Article is currently empty. It is intended for future use.

IV. CUSTODIAL SERVICES
This Article is currently empty. It is intended for future use.