About Us

Mission and Values

_{Property Division/Fixed Asset Management}

Functional Statement:

"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 objectives:

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:

• Consistent procedures for fixed asset accounting, management, control and accountability throughout the Government of the Virgin Islands.
• Management has adequately minimized risk to assets through internal controls
• Proper management, financial accounting and reporting in accordance with Generally Accepted Accounting Principles (GAAP), the Governmental Accounting Standards Board (GASB), and other applicable government accounting standards.

The Scope:

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:-

• Manages and safeguards the assets assigned to Department of Education (VIDE).
• Provides central administration and guidance for a standardized Fixed Asset Management process.
• Acts as the overseer and custodian for all Fixed Assets with VIDE.
• Issues policies and procedures containing federal and local fixed asset accounting and management guidance.
• Establishes within the department a disposal operation to assist Government of the Virgin Islands departments in the removal, redistribution, and sale of surplus assets.

Values

• Integrity—Adhere to the highest ethical and professional standards.
• Accountability—Accept responsibilities and meet commitments.
• Transparency—Be open, direct and frequent in communications.
• Inclusion—Foster a workplace culture that values diverse backgrounds, experiences and perspectives.
• Proficiency—Deploy a workforce with a high degree of skill, competence and expertise to maximize performance.

Meet #TeamFAMD

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: -

• Provide management and direction for a large and diverse portfolio of assets
• Formulate fixed asset policy, procedures, plans and strategies to maximize value and performance and minimize risk/loss
• Evaluate and report on fixed asset performance relative to asset management
• Lead the relationship with our third-party property management firms 
• Monitor & manage property/fixed asset level operational and capital asset issues

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:

• Coordinate lead operational due diligence
• Oversee strategy expectations and uncover any "red flags" that may arise
• Review  and reconcile the tracking existing fixed assets
• Assess and evaluate inventory/inspection results
• Manage and review the disposal of fixed assets at the end of their useful life.

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: -

• Identify, define, develop and implement fixed asset improvement and management
• Reconcile monthly inspections and reports
• Balance fixed asset week/monthly reports and make recommendations where applicable
• Manage Fixed Assets, including biennial inventory
• Resolve fixed asset related problems and follow up locations on pending issues

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: -

• Daily maintenance of the Federal and Local System of Records
• Regular fixed asset inspections, audits and monitoring company’s assets
• E-waste processing
• VIDE Fleet Management

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: -

• Provides administrative support to ensure efficient operation of office.
• Answers phone calls, schedules meetings and supports visitors.
• Carries out administrative duties such as filing, typing, copying, binding, scanning etc.
• Completes operational requirements by scheduling and assigning administrative projects and expediting work results.
• Makes travel arrangements for senior staff such as booking flights, cars, and hotel or restaurant reservations.
• Exhibits polite and professional communication via phone, e-mail, and mail.
• Supports the team FAMD by performing tasks related to organization and strong communication.

Control Your Inventory

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.

News

What's Going On?

E-waste Processing 

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)

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(Image of staff/summer workers building pallets of e-waste)

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(Image of staff/summer workers packing the 40ft container)

Upcoming Events

Announcements

Important Notices

Quarterly Meetings

The Property/FAMD Division will provide technical assistance to schools/activity centers.  

Insert schedule of the upcoming meetings

Full Inventory

The Property/FAMD Division will conduct a full inventory (all federal assets) at all schools and activity centers in the territory.

 Insert inventory schedule 

Biennial Inventory

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

Forms

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 

Missing or Stolen Report

Home Use Authorization Form

ANY ASSET THAT WILL TO BE UTILIZED OFF THE DISGNATED LOCATION NEED TO HAVE HOME USE AUTHORIZATION FORM

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 

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

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 

spreadsheet Temporary Assignment of Property Form (50 KB)

Ink Disposal Form

ANY INK OR TONER THAT NEEDS TO BE DISPOSED OF HAS TO BE DOCUMENTED ON THE INK DISPOSAL FORM

Ink Disposal Form

Defective Equipment Form

Defective Equipment Form

New Vehicle Acknowledgement Form

New Vehicle Acknowledgement Form

Vehicle Disposal Report

Vehicle Accident Form

Fixed Asset Tracking Form

Policies and Procedures

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.

Table of Contents

pdf FAM 3.0- Fixed Asset Management (612 KB)

pdf FAM 3.1-Pre- Receipt of Goods Policy (576 KB)

pdf FAM 3.2- Receiving Goods and Fixed Assets (597 KB)

pdf FAM 3.3 Tagging and Scanning Fixed Assets Policy (593 KB)

pdf FAM 3.4- Creating Shipping Order (553 KB)

pdf FAM 3.5 Creating Fixed Assets Policy (595 KB)

pdf FAM 3.6 Fixed Asset Delivery (581 KB)

  pdf FAM 3.7 Activating Fixed Assets (658 KB)

pdf FAM 3.8 Tracking Cycle Time To Receive and Deliver Fixed Assets (632 KB)

pdf FAM 3.9 Warehouse Fixed Asset Review (563 KB)

pdf FAM 3.10 Fixed Asset Inspections (617 KB)

pdf FAM 3.11 Newly Purchased Asset Reconciliation (550 KB)

pdf FAM 3.12 Fixed Asset Movements (601 KB)

pdf FAM 3.13 Stolen, Missing or Damaged Fixed Assets (601 KB)

pdf FAM 3.13A- Missing, Stolen, Damaged Invoice (853 KB)

pdf FAM 3.14 Disposition of Fixed Assets (574 KB)

pdf FAM 3.15 Fixed Asset Retirement (575 KB)

pdf FAM 3.16 Defective Fixed Assets (578 KB)

pdf FAM 3.17 School Activity Center Closing (573 KB)

pdf FAM 3.18 End of School Year Inventory (558 KB)

pdf FAM 3.19 Biennial Physical Inventory (571 KB)

pdf FAM 3.20 Natural Disaster Preparedness and Response Policy (604 KB)

Questions, Advice, Service

Additional information, advice or questions on fixed asset management and or the policies and procedures should be directed to our office via email at fixedassetmgt@stt.k12.vi.

Inspection Calendar