601.1 Fixed Asset Library - Required Documentation

Copy of the annual library valuation reports for both general and special library collections (see procedures document for more information.
Documentation supporting adjustments to the General Ledger library values and Fixed Asset subsidiary library collection records.
Description of method(s) used to determine average age and historical cost of library withdrawals. (Basic premise is to value withdrawals at the historical cost of the volumes withdrawn. This can be approximated based on an averaged age of withdrawn volumes at time of withdrawal, valued back in time using a general index value per volume, times the number of volumes withdrawn. Any rational valuation method that approximates an historical cost should be acceptable.)
Documentation supporting valuation of special collections. Ideal presentation would include identification of collection, year acquired (or addition to), valuation, indication if valuation is from historical cost, appraisal at time of donation, donor reported value, or other (can not be current market unless derived by recognized appraisal).