California Code, Education Code - EDC § 35168

(a)(1) The governing board of a school district, shall establish and maintain a historical inventory, an audit trace inventory system, or any other inventory system authorized by the state board that shall contain the description, name, identification number, date of acquisition, location of use, and original cost, of each item of equipment acquired by the school district that has a current market value that exceeds one thousand five hundred dollars ($1,500) per item.

(2) The governing board of a school district shall also include the date and manner of disposal for each item of equipment in the inventory system maintained pursuant to paragraph (1) upon disposal of the item.

(3) For purposes of paragraph (1), if a school district does not know the original cost of an item, the school district may use a reasonable estimate of the original cost.

(b)(1) The Superintendent shall biennially adjust the threshold market value identified in subdivision (a) by the percentage calculated pursuant to paragraph (2) of subdivision (d) of Section 42238.02 for the 12-month period ending in the prior fiscal year, rounded to the nearest fifty dollars ($50).

(2) The Superintendent shall post the adjusted threshold market value calculated in paragraph (1) to the department's internet website.