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Inventories: DID

  • Fiscal Management: D
Inventories: DID
Updated

The school district shall maintain a system for an annual inventory of all items costing $5000 or more and having a life expectancy of over five years, with the exception of equipment permanently fixed in a building such as heaters or lockers.

Items purchased with Federal Grant funds must follow the guidelines set by the fund’s governing body. The Grants Accountant can provide specifics for each Federal Grant.

Each September the Finance office will distribute current computerized equipment listings to all school district facilities. Physical inventories shall be required in order to update this list. Complete inventory instructions will also be provided at that time. In addition, the Finance office will provide permanent inventory tags to each facility with instructions as to their proper application.

Physical inspection of all tagged items will be done by the Finance office. Every tagged asset must be physically inspected at least once every three years.

Responsibility for the system shall lie with the superintendent to whom principals shall be accountable for the maintenance of proper inventories in their schools.