In accordance with “The Uniform System of Accounts for School Districts” and the recommendations of the State Comptroller’s office, an inventory of fixed assets and other equipment and property of the district shall be maintained by the business office with the cooperation of all building and department administrators.

The business office shall develop and maintain a system of internal controls for all fixed assets and other inventoried district property, including a property register which shall be updated on an ongoing basis. The business office may use the assistance of outside advisors or appraisers in carrying out this responsibility.

Annually, the business office will provide the Board of Education the applicable portion of the insurance policy that reflects the annually updated fixed asset inventory values.

Adopted: July 10, 2000