Mission and Values
Property Division/Fixed Asset Management
"The Property Division/Fixed Asset Management (FAMD) provides accountability for Federal and State asset management compliance guidelines by maintaining the fixed assets and real property records of the Virgin Islands Department of Education (VIDE)."
The Fixed Asset Management Division (FAMD) is directly responsible for creating, managing, tracking, disposing and documenting the movements of fixed and capital assets territory-wide. Our purpose is to ensure the following:
Fixed Asset policies and procedures applies to all schools and Activity Centers within the Departments of Education. All VIDE locations, managers and employees shall exercise the utmost care and diligence in the use, maintenance, and protection of all local and federal assets.
The Property Division/Fixed Asset Management (FAMD)
Maintains effective internal controls to manage its fixed assets, and to maintain proper records regarding the use and disposition of those assets. The policies apply to fixed assets acquired with funding originating from the Local and Federal government or other external sources, and by gift or loan. The division effectively and responsibly:-
Meet the TEAM!!!
Goal Standard #TEAMFAMD
ASSET MANAGEMENT, DIRECTOR
The Director of Asset Management will oversee a diverse portfolio of VIDE's personal property and work with third-party management partners to maximize each asset’s potential from receipt to disposal of assets. The director will also be responsible for developing and executing fixed asset management strategies across the territory. The duties also entails effective maintenance and management of the following: -
FIXED ASSET MANAGER
The role of the Fixed Asset Manager is to oversee, analyze and report on the activation, creation and monitoring of VIDE's fixed assets. The manager is also responsible for creating and communicating key factors of asset management regarding fixed assets, capital assets and disposal trends. This work includes:
FIXED ASSET SPECIALIST
Fixed Asset Specialist are responsible for the me technical and analytical work involved in maintaining fixed assets and inventory records. An employee in this class is responsible for reconciling of the fixed asset general ledger, preparing inventory records and reports for fixed assets, capital assets and other high-risk assets. The work involves following inventory procedures in compiling information on type of assets, location of assets, acquisition of new assets, and disposition of obsolete assets etc. The position is responsible for assisting in the preparation of monthly, quarterly and yearly fixed asset reports. Their duties also entails effective maintenance and management of the following: -
FIXED ASSET ANALYST
Fixed Asset Analyst are majorly responsible for recording, updating and management of our department’s newly purchased fixed assets, tracking existing tangible assets and process and accounting for disposed fixed assets. Their duties also entails effective maintenance and management of the following: -
ADMINISTRATION ASSISTANT III
The Administrative Assistant duties and responsibilities include providing administrative support to ensure efficient operation of the office. Supports managers and employees through a variety of tasks related to organization and communication. Responsible for confidential and time sensitive material and is adept with all fixed asset concepts, practices, policies and procedures. The duties also entails effective maintenance and management of the following: -
Inventory control is how you manage the assets currently assigned to your school/activity center. This involves knowing your assets inside and out—where it is and what condition it is in. Based on our observations and discussions, the Property Division/Fixed Asset Management Team (FAMD) recommends the usage of the following forms in maintaining and updating your school/activity center’s file. All the forms mentioned in this discussion can be found under the “Forms” Tab.
Missing, Stolen or Damaged Property Report
For instances of missing, stolen or damaged assets, all schools/activity centers are required to complete the Missing, Stolen or Damaged Property Report Form. For instances of stolen assets, a police report must be filed and accompanied with the Missing, Stolen or Damaged Property Report Form to validate the claim. For additional guidance on missing, stolen or damaged assets, see FAM 3.13 Stolen, Missing or Damaged Fixed Assets under “Policies and Procedures" Tab and the below instructions on completing the form.
Home Use Authorization
Faculty or staff members allowed to take any asset home or outside the assigned school/activity center for work purposes are required to complete the Home Use Authorization Form (HUA) as shown below. All fields highlighted in yellow should be completed where applicable. For additional guidance on this topic, see FAM 3.12 Fixed Asset Movements Policy under “Policies and Procedures" Tab.
Transfer of Property
Assets which are transferred from one school/activity center to another must be recorded on a Transfer of Property Form as shown below. For additional guidance on this topic, see FAM 3.12 Fixed Asset Movements Policy under “Policies and Procedures" Tab.
Temporary Assignment of Property
Assets removed from schools/activity centers temporarily must be documented on a Temporary Assignment of Property Form as shown below. For additional guidance on this topic, see FAM 3.12 Fixed Asset Movements Policy under “Policies and Procedures" Tab.
Report of Survey
Assets with the need to be disposed of that are in poor condition, damaged or inoperable must be documented on a Report of Survey Form as shown below. For additional guidance on this topic, see FAM 3.14 Disposition of Fixed Assets Policy under “Policies and Procedures" Tab.
What's Going On?
Massive E-waste Removal/Disposal Process
By the end of the 2020-21 school year, the Division removed approximately 10,000 items of electronic waste (e-waste) from schools and activity centers throughout the territory. During the months of June & July the Fixed Asset Management Division filled a 40ft container with electronic waste. This container is destined for the mainland where certified professionals will continue the disposal process.
Insert Image #1
(Image of Room packed to capacity of e-waste)
Insert Image #2
(Image of staff/summer workers building pallets of e-waste)
Insert Image #3
(Image of staff/summer workers packing the 40ft container)
The Property/FAMD Division will provide technical assistance to schools/activity centers.
Insert schedule of the upcoming meetings
The Property/FAMD Division will conduct a full inventory (all federal assets) at all schools and activity centers in the territory.
Insert inventory schedule
Insert Biennial Inventory schedule
The Property/FAMD Division along with a third party vendor will conduct the Biennial Inventory. Schools/Activity Centers should
Did You Know
The Fixed Asset Management Division would like to thank you for your hard work and dedication!! Your Outstanding performance, contribution and overall Inventory Management/ Compliance (Asset movement documentation, Location Participation) in the first semester of the 2019 School Year.
Please click on image for larger enhancement
Fixed Asset Forms
"TELL US WHAT YOU NEED"
FIXED ASSET FORMS ARE DESIGNED TO ENSURE THAT ALL ASSETS IN DEPARTMENT OF EDUCATION ARE BEING PROPERLY DOCUMENTED.
Missing Stolen or Damage Form
any assets that are not of use because its Missing stolen or damage needs to be on a missing,stolen, or damage form
Home Use Authorization Form
ANY ASSET THAT WILL TO BE UTILIZED OFF THE DISGNATED LOCATION NEED TO HAVE HOME USE AUTHORIZATION FORM
Transfer Of Property Form
ANY ASSET that is being moved from one location to the next location needs a Transfer of property form
Report Of Survey
ASSETS THAT ARE NO LONGER OF USE AND NEEDS TO BE DISPOSED OF NEEDS TO BE ON REPORT OF SURVEY
Temporary Assignment of Property Form
aNY ASSET THAT IS BEING RELOCATED TO A TEMPORARY LOCATION NEEDS TO BE ON A TEMPORARY aSSIGNMENT OF pROPERTY FORM
Ink Disposal Form
ANY INK OR TONER THAT NEEDS TO BE DISPOSED OF HAS TO BE DOCUMENTED ON THE INK DISPOSAL FORM
Defective Equipment Form
New Vehicle Acknowledgement Form
Property and Procedures
Property Division/Fixed Asset Management
Welcome to the Property Division’s Fixed Asset Management Policies and Procedures. The goal for these SOPP’s is to provide general guidance for fixed asset management applicable throughout the Department of Education.
The Property Division’s policies and procedures provide an institutional perspective on many important issues surrounding fixed asset management, mandates and governance. They also provide information on context for action, safeguarding of assets, inventory controls and thoughtful decision making. Often, specific procedures for general operation are included.
As new policies become available they will be posted on this page.
Additional information, advice or questions on fixed asset management and or the policies and procedures should be directed to our office via email at email@example.com.