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Asset Management - CoSer 680-0

Lynda Russell
Lynda Russell
p: (315) 431-8584

Welcome to the OCM BOCES Asset Management web page. Asset Management is a system that allows school districts to keep track of asset location, asset value and depreciation schedules. Government accounting standards require school districts to keep records of assets that are valued at or above a monetary threshold determined by each district’s Board of Education. Fixed assets include furniture, buses, playground equipment, lawnmowers, kitchen appliances, floor scrubbers, computers, and hundreds of other items purchased for long-term use.


Why is it important?

Districts are responsible for tracking assets for:

  • Year-end reporting
  • Auditing requirements
  • Inventory control
  • Budgeting
  • Insurance

Many districts do not have the capacity or staff to tackle this time-consuming, labor-intensive task.

Benefits of the OCM BOCES Asset Management Service:
Benefits of the OCM BOCES Asset Manage-ment Service:

Expertise & Experience

OCM BOCES has successfully performed this work since 1999. The current Asset Management team has more than 30 years of collective experience. They work for more than 20 school districts in addition to OCM BOCES and the Central New York Regional Information Center. Our team supports compliance with your district’s asset thresholds as well as federal and state regulations.


Our Asset Management team uses the web-based MAXIMUS ASSETMAXX inventory software to input information and generate reports to meet state and federal regulations. This platform provides a detailed, complete, and reliable inventory system for our school districts.

Peace of Mind

Districts have the tools they need to follow the guidelines and regulations of GASB 34 & 35 and annual auditing requirements. The OCM BOCES team has extensive experience working with districts and auditors to help ensure accurate and timely asset information.


Once districts conduct their initial inventory with the OCM BOCES Asset Management Team, each year gets easier. This year-to-year continuity becomes invaluable when districts have staff turnover, asset disposals, and assets that are newly acquired throughout the year.

State Aid

The OCM BOCES Asset Management service makes good financial sense because — like most shared services through OCM BOCES — it is eligible for state aid. Districts are reimbursed the following school year.

What People are Saying

"The Asset Management service and Jon Lewis at OCM BOCES have been a lifesaver. We had several problems with tracking assets after some staff transitioned out of our district. Jon and the Asset Management service had everything cleaned up in a snap, which saved a lot of headaches for me and our auditors! They were always quick to respond to our questions, and patient when explaining things. They are fantastic to work with overall.”

- Business Administrator David Shaw, referring to Newfield schools

“I am an external auditor, and several of our school districts utilize the BOCES fixed asset service. My interactions with Jon have always been overwhelmingly positive. The service appears thorough, receptive to input and concerned with accuracy. I really appreciate Jon’s willingness to meet, discuss and resolve issues if/when they arise I would recommend this service to others.”

- Ben Owens, CPA & Partner, Insero & Co. CPAs, LLP

“The Asset Management service at OCM BOCES provides with comprehensive capital and property asset reports that are current and easy to read. Professional and considerate of our school business office deadlines, the turnaround time in providing year-end reports never disappoints. I can’t imagine taking care of this in-house. When we renew our BOCES services, Asset Management is always a ‘YES’!”

- Cathryn Marchese, School Business Administrator, Lyncourt Union Free School District