John Glenn School Corporation
Administrative Guidelines



A purchase order shall be completed and submitted to the Treasurer for approval. Prior to approval, the Treasurer shall review the excess asset list to determine if the same or similar asset is available from a different building or department. If the purchase order is approved, a copy of the approved purchase order will be returned to the originating principal/supervisor.

If certified, the initial information from the purchase order will be entered into the accounting system as a pending item. The Treasurer shall send the transmittal form to the principal/supervisor.

When the asset is received, the transmittal form shall be returned to the originator. Information from the form shall be used to complete the fixed asset pending file and the asset will be recorded in the system.

Transfer and/or Disposal

 A.A request for asset disposal (transfer) (Form 7455 F1) is to be submitted to the Treasurer for approval. The Treasurer is to keep a copy of the request and return the remaining copies to the principal/supervisor.
  After approval has been received and upon disposition or transfer of an asset, the principal/supervisor shall sign and date the approved request for fixed asset disposal and shall send a copy to the Treasurer and, if the asset is to be transferred, a copy to the principal/supervisor receiving the asset.
  An approved copy of the request for disposal is to be sent to the Superintendent (This procedure has been established to facilitate the auction process by accumulating all assets for sale in one (1) place and to enhance internal control by segregating duties.)
  As needed, the Treasurer shall prepare a report listing all assets held for sale. A copy of the report shall be forwarded to the Superintendent who shall compare the list to the approved requests for disposal and also compare the list to the actual assets stored for sale.

The requested disposal list shall then be approved by Board resolution prior to sale.

When an auction has taken place, the Treasurer shall prepare a list of assets sold and the amount of money received for each. Upon receipt of the list of assets sold, the Treasurer shall update the list of assets held for sale and the master asset list.

 B.Annually, the Treasurer shall prepare a master list of all entity assets, a report of assets purchased, and a report of assets disposed of or transferred. Each principal/supervisor shall receive that portion of each report which relates to that building or department. It is the responsibility of the principal/supervisor to review and compare the reports to the fixed assets maintained in his/her area of responsibility.

 C.All principal/supervisors shall regularly identify and report to the Treasurer all assets not in use. The Superintendent and Treasurer shall review the report to identify assets that can be transferred to respond to a requisition for purchase and assets that should be sold.

 D.As needed the Treasurer shall review asset acquisitions and dispositions for the purpose of updating insurance coverage. Insurance coverage for new vehicles shall be updated before the vehicle is used.

 E.Any evidence of lost, stolen, or damaged assets shall be immediately reported to the Treasurer. The Superintendent and Treasurer shall investigate the matter and determine the appropriate action.

 F.Periodic physical inventories shall be conducted to ensure accountability for the assets of the entity. The Corporation shall adopt inventory guidelines to become a part of these procedures.