CFB (TSBVI) Accounting Inventories


The Superintendent shall be responsible for establishing a property accounting system that complies with the provisions for property accounting under the Texas Gov’t Code, Chapter 403.271 et.seq. and the federal Education Department General Administrative Regulations (EDGAR) for property obtained through federal grants. All real and personal property must be accounted for by the School. The School’s inventory accounting system shall include procedures for the disposition of equipment and supplies purchased with federal grants, including funds received from the Individuals with Disabilities Education Act (IDEA) and No Child Left Behind (NCLB) Act. The School shall implement administrative procedures regarding the use and disposition of any such equipment with an original per unit acquisition cost of $5,000 or more, or an aggregate amount of supplies of $5,000 or more.


Personal property is defined by the Comptroller of Public Accounts to include equipment, machines, vehicles and furniture. The Comptroller of Public Accounts is responsible for administering the personal property accounting system for the State of Texas and for setting the dollar value amount for capitalizing assets. Texas Gov’t Code, Chapter 403.271 et.seq

The Superintendent:

  1. Is responsible for the custody and care of state property in the School’s possession.
  2. Is responsible for ensuring that state personal property is used for state purposes only.
  3. Must designate a property manager and inform the Comptroller of Public Accounts.
  4. Must approve all loans of property to another state agency.
  5. May transfer any personal property in the School’s possession to another state agency with or without reimbursement.
  6. Will ensure that a physical inventory of all personal property in the School’s possession shall be completed on the date prescribed by the Comptroller of Public Accounts.
  7. Shall report immediately to the State Auditor and the Attorney General if reasonable cause exists to believe that personal property in the School’s possession has been lost, destroyed, or damaged, through negligence of a state official, or employee. A monetary liability for property lost, destroyed, or damaged through the negligence, or fault, of any state official, or employee, may attach, on a joint and several basis to more than one person in a particular instance.

The School’s property manager:

  1. Is the custodian of all personal property possessed by the School and is responsible for maintaining the required records.
  2. Must mark and identify state personal property in accordance with the Comptroller of Public Accounts’ rules.
  3. Must require a written receipt from a person entrusted with custody of personal property.
  4. Must ensure that personal property records accurately reflect the property currently possessed by the School.
  5. Must furnish a certification of personal property inventory at the time, and in the form, directed by the Comptroller of Public Accounts.
  6. Must dispose of surplus, or obsolete, personal property in the manner authorized by the Comptroller of Public Accounts.


Real property is defined by the General Land Office to include land and buildings and associated capital improvements. Texas Natural Resources Code ß31.51, et seq.


Records will be maintained in accordance with rules and regulations of the General Land Office as stated in Texas Natural Resources Code. Texas Natural Resources Code ß31.51, et seq.

Adopted:         11/7/80

Amended:       3/25/94, 11/14/97, 3/26/02, 7/15/15, 8/7/15