6801 Policy – Capital Assets/Theft-Sensitive Assets

Bellingham Public Schools will maintain a comprehensive capital assets record-keeping system. The goal of the capital assets program is to protect the district against losses that would significantly affect the district’s students, staff, property, budget or the ability of the district to continue to fulfill its stewardship responsibilities.

Capital Assets

For purpose of this policy, “capital assets” will mean land, improvements to land, easements, building improvements, vehicles, machinery, equipment, infrastructure and all other tangible and intangible assets that are used in operations and that have initial useful lives extending beyond a single reporting period which:

A. Retains its shape and appearance with use;
B. Is nonexpendable, meaning if the item is damaged or some of its parts are lost or worn out, it may be more feasible to repair it than to replace it with an entirely new item;
C. It does not lose its identity when incorporated into a more complex unit;
D. Is valued no less than $10,000 unless a lesser amount is set by the district; and
E. Has a life expectancy of at least one year.

No equipment will be removed for personal or non-school use.

Theft-Sensitive Assets

For purposes of this policy, “theft-sensitive” assets are those items identified by the district as most subject to loss. “Theft-sensitive” assets are defined as easily moveable, concealable, portable, or desirable items with a unit cost of $300-$9,999. A list of theft-sensitive assets shall be maintained by the district. The district should establish procedures for internal controls and conduct periodic inventory of theft-sensitive assets.

Federal law requires a physical inventory of federally-funded assets at least once every two years. Reconciled inventory reports will identify lost, damaged or stolen capital assets.  Missing capital assets or theft-sensitive assets will be removed from district property records.

The superintendent will develop procedures to implement this policy, including maintenance requirements and sales procedures to ensure the highest possible return.

Legal References:
RCW 28A.335.090Conveyance and acquisition of property Management Appraisal
7 CFR  3015, 3016Agriculture
34 CFR 80.32Uniform Administrative requirements for grants and cooperative agreements to state and local governments Equipment
45 CFR 92.32 Health and Human Services
Office of Management and Budget (OMB) Circular A-87, Cost Principles for State, Local, and Indian Tribal Governments, Attachment B(19)

Management Resources:
Policy News, April 2025
Policy News, June 2012
Policy News, June 2008 Capital Assets/Theft-Sensitive Assets
Policy News, April 2006 Fixed Assets

Adopted/Previous Revisions: 09/12/96; 06/26/08; 04/20/17
Last Updated:  10/28/25
Superintendent or Board Approved:  Superintendent Approved