Policy Code: DID

Adoption Date: Tuesday, April 24th, 2007

Review Date: Tuesday, June 16th, 2015

FIXED ASSETS

An equipment inventory will be maintained on all capital outlay items exceeding $500 in value; other items of lesser values may be added at the Business Administrator’s discretion. The inventory will serve both the functions of control and conservation. All equipment and books must be properly tagged and identified.

Principals of each school or persons designated by them will update inventory records periodically during the school year.

Before the close of the school year, a printout will be provided to each school or location for the purpose of checking accuracy and to fix any errors before the final year-end report is printed. A list of items that need to be removed from the printout should be submitted to the district office complete with the reason for deletion.

No district employee shall transfer, sell, or trade-in any property owned by the district without written authorization of the procurement officer. Schools and district departments shall notify the procurement officer in writing of all surplus property. Insofar as feasible and practical, the procurement officer will transfer surplus property between schools. Surplus property shall be offered to the general public through competitive sealed bids or public auction. It is recognized, however, that some types and classes of items can be sold more readily and advantageously by other means. In such cases, and also where the nature of the property or unusual circumstances call for its sale to be restricted or controlled, the procurement officer may employ such other means, provided such officer makes a written determination that such procedure is advantageous to the district.

District employees shall not dispose of old equipment or books without first getting written permission from the district procurement officer.