Management Support

CAPITAL ASSET/THEFT-SENSITIVE ASSETS

Policy No. 6801P

A. Individual Responsible:

The district’s Facilities Supervisor or designee is responsible for inventories of district property.

The individual conducting the inventory shall have no direct responsibility for assets subject to the inventory count.

B. Frequency of Inventory:

Inventory shall be conducted at least once every other fiscal year for all capital assets, except land; infrastructure; buildings; and improvements other than buildings and leasehold improvements. A theft-sensitive assets inventory shall be conducted annually.

C. How to record items:

District assets will be marked with a unique identification number (e.g. bar code, property tag) and identified as district property. All capital assets and theft-sensitive assets will be identified and marked upon purchase or receipt.

D. What information to record:

When placing a capital asset on the inventory, the Facilities Supervisor or designee will record:

· Description of item;

· Serial number or other identification number (bar code, tag number, etc.);

· Source of the property;

· Who holds title;

· Acquisition date;

· Cost of the property;

· Percentage of federal participation in the cost of the property and the federal program charged;

· Location of the asset;

· Use and condition of the property; and

· Ultimate disposition data including the date of disposal and sale price, if applicable. Federally purchased items with a per unit fair market value over $2,000 must reimburse the federal program proportionately. Disposed items with a per unit fair market value of less than $2,000 may be retained, sold or otherwise disposed of with no further obligation to the awarding agency.

When placing a theft-sensitive asset on the inventory list the district shall record the information needed by the district. This should include, at a minimum, a description of the item and identification number, location and federal participation, if any.

E. What to do when questions arise:

When questions arise during the process of the inventory, the purchasing department or building administrator will be contacted.

F. Procedures to follow when the inventory is completed:

At the conclusion of the physical inventory, the building principals and department administrators will be provided with a written copy of the inventory that lists all the assets that have been assigned to that site, and which clearly identifies all assigned items that were not found during the physical inventory.

G. What procedures to follow when equipment is listed as missing:

Principals and department administrators are required to attempt to locate items that have been listed as missing. Within 25 working days, the principals and department administrators are expected to return a copy of the inventory report to the purchasing department showing which items have been located and which are still missing.

The missing items will be consolidated on a report of potential write-offs. The Business Manager will review the report and approve the total amount of assets to be written off. Only write-off items will be removed from the capital assets inventory system.

H. Attestation to Accuracy:

The staff person conducting the inventory shall sign the bottom of each inventory page.

I. How to record assets not being used or in an obviously unserviceable condition:

Items not being used or in an obviously unserviceable condition shall be identified during the inventory and the Facilities department will list the equipment as surplus and follow policy 6881.

Date: February 23, 2009

Blaine School District

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