Policy 3.E - ASSET PROTECTION

Date Adopted: January 27, 2009

Revised: August 28, 2012, June 25, 2013, October 25, 2016, September 26, 2017, August 23, 2023

Monitoring Date: February

The Superintendent will not cause or allow corporate assets to be unprotected, inadequately maintained or unnecessarily risked.

The Superintendent will not:

1. Allow the organization to be uninsured:
   a) Against theft and casualty losses to at least 90% of replacement value; and
   b) Against liability losses to Board members, staff and the organization itself in an amount equal to or greater than the average for comparable organizations.
   c) Against employee theft and dishonesty.
2. Subject facilities and equipment to improper wear and tear or insufficient maintenance.
3. Operate without employing risk management practices to minimize exposure of the organization, its Board or staff to claims of liability.
4. Allow any purchase wherein normally prudent protection has not been given against conflict of interest
5. Allow the purchase, disposal, or lease of real estate or personal property valued at more than $20,000 without having obtained comparative prices through a fair vendor bidding process with supporting documentation.
6. Engage in design, construction, or any other aspect related to development of real property including financing or payment for such services, without obtaining comparative prices through a fair bidding process with supporting documentation.
7. Allow the Board to be unaware of the acquisition, encumbrance, lease or disposal of real estate valued at more than $20,000 without providing the Board with information for discussion prior to a final staff decision being made.
8. Fail to protect intellectual property, information and files from loss, improper access or significant damage.
   a) Fail to maintain records in a manner consistent with a Records Retention Schedule established in accordance with recommendations from legal counsel.
9. Receive, process or disburse funds under controls insufficient to meet the Board-appointed auditor’s standards.
10. Compromise the independence of the Board’s audit or other external monitors or advisors. Engaging parties already chosen by the Board as consultants or advisers is not permitted.
11. Invest or deposit funds that do not comply with the District’s Investment Policy and Applicable State Law.
12. Endanger the organization’s public image, its credibility, or its ability to accomplish Goals.
13. The Superintendent will not allow the unauthorized use of the District’s name or likeness in a manner that will endanger the organization’s public image, its credibility or its ability to accomplish goals.
14. Change the organization’s name or substantially alter its identity.