CAPITALIZATION

The Superintendent or designee shall provide for the proper control and conservation of district property. A list of each capital acquisition with a purchase cost of $1,000 or more and computers and computer equipment with a value of $500 or more will be maintained by the Business Office.

In compliance with State of Alaska and Federal regulations, furniture, equipment and other assets having a per item purchase price of $5,000 or more shall be capitalized and accounted for in accordance with Generally Accepted Accounting Principles and such other pronouncements as may be applicable.

(cf. 3270 - Sale and Disposal of Books, Equipment and Supplies)
(cf. 3290 - Gifts, Grants and Bequests)
(cf.  3400 - Management of District Assets/Accounts)

Legal Reference:

ALASKA STATUTES
14.11.011  Grant applications
14.11.017  School construction grant conditions
14.14.050  Annual audit

ALASKA ADMINISTRATIVE CODE
4 AAC 06.120  Accounting and audit manuals, charts of accounts, code descriptions
4 AAC 51.300  Vocational facilities and equipment

CARL D. PERKINS VOCATIONAL EDUCATION ACT, Public Law 98-524, 99-159
34 CODE OF FEDERAL REGULATIONS, 74.132-74.140
Office of Management and Budget, Circular A-102, Attachment N, Property Management Standards

KETCHIKAN GATEWAY BOROUGH SCHOOL DISTRICT
Revision Date:  6/14/06