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Appraising Educational Assets

June 26, 2013

All across the country, school is out and happy kids (and teachers) are heading off to summer vacation. With a few exceptions, the schools will sit empty until the fall, and all of the equipment and machinery within will sit as well. This is the perfect opportunity to show how a machinery and equipment appraisal applies to a seat of learning and higher education.

The first task is determining what can be appraised. Books, chairs, desks, computers, blackboards, sports equipment, and even the warming trays and heat lamps in the cafeteria are all equipment and all have value. But since most of it was likely purchased at the beginning of the school year, it’s all gone through the process of depreciation – the value of it now is less than the value of it when it was new. A Certified Machinery and Equipment Appraiser (CMEA) can determine the current value.

Anything that’s outlived its value will need to be replaced. With a Certified Machinery and Equipment Appraisal in hand, the school will receive a fair price for the equipment that’s donated or sold.

When the school purchases any new equipment, it should be insured against damage or loss. A CMEA can determine the insurable value for all of it, so that if something unforeseen should happen, the school will be fairly compensated.

The NEBB Institute endorses and strives to observe the highest standards of professional ethics to preserve the public trust inherent in the professional appraisal practice. The Institute provides initial and monthly comprehensive education, ongoing support, and a dynamic international network, and certifies professionals in the art of machinery/equipment appraisal and brokerage.

By: NEBB Institute

 

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