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INVENTORIES
The Business Administrator/Board Secretary shall maintain an accurate and complete inventory of all buildings, fixed equipment and furnishings, and their value, in order to offer proof of loss in the event of an insurance claim and to provide a continuous chain of accountability. The inventory shall be updated to reflect new equipment and shall be verified in a cycle to coincide with the reissuance of insurance policies. Loss of any capital equipment of $500 unit value or more shall be reported to the Board of Education. Major discrepancies in inventories which are not resolved by proper accounting procedures shall be reported to the Board of Education. The Board of Education shall determine when it is necessary to hire an outside service to assist in appraisal. Date: April 14, 1986 November 19, 2001 First Reading December 10, 2001 Approved Legal Reference: N.J.S.A. 18A:11-2 Power to sue and be sued; reports; census of school children Cross References: 3530 Insurance management 3570 District records and reports Key Words Inventory, District Records and Reports |
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