The Board of Education, as steward of this District's property, recognizes that efficient management and full replacement upon loss require accurate inventory and properly maintained property records.

The District shall conduct a complete inventory every five (5) years, by physical count, of all District-owned equipment and supplies. For purposes of this policy, "equipment" means a unit of furniture or furnishings, an instrument, a machine, an apparatus or articles which retain shape and appearance with use, is nonexpendable and does not lose its identity when incorporated into a more complex unit.

The District shall maintain a fixed asset accounting system. The fixed asset system shall maintain sufficient information to permit:

Each building and additions to buildings are identified by location or name and are described in detail (e.g., size, number of floors, square footage, type of construction, etc.) with the value shown for all individual structures.

Fixed equipment is inventoried by building, floor, and room name or number with each item to be listed individually. (Leased equipment that the District will eventually own must be inventoried.)

Moveable equipment is inventoried by building, floor and room name or number with each item to be listed individually. Any item that has a model number of serial number has that number noted in the description for full identification. All items assigned to a building are the building administrator's responsibility.

All equipment purchased, after the initial inventory, as capital outlay or replacement with a cost of $1,500.00 or more and with an estimated useful life of five (5) years or more are tagged and made part of the equipment inventory.

Televisions, VCR's, DVD players, computers and any other items highly susceptible to theft have a permanent number attached to them.

Audio visual equipment and computer equipment are inventoried through the Treasurer's office with a sublisting of location. Each component is inventoried and a number is attached on each. An accurate official record of textbooks and computer software is maintained and updated yearly at the building level. Library books are inventoried and maintained in each building's library.

A computer generated listing of all equipment is supplied to each building and department. This listing is updated annually by the close of the school year. This updated listing is then submitted to the Treasurer's office for computer update.

A physical inventory of supplies is taken at the building level at the close of the school year, or not later than the second Friday in June of each year.

The Treasurer is assisted by the assistants to the Treasurer, principals, directors, supervisors, and professional and support staffs in the performance of this function.

Fixed assets shall be classified as follows:

Classified as land improvements: outdoor bleachers, athletic field fencing, playgrounds, outdoor lighting, underground lines, curbs, sidewalks, gutters, storm sewers, drain systems, perimeter fencing, parking lots, driveways, and underground tanks.