Policy #312

Title: INVENTORIES

The Business Manager shall maintain an accurate and complete

Inventory of all building, fixed equipment and contents 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.

Property shall be inventoried by physical count as needed to coincide

with the reissuance of policies, and valuations determined in conformity

with insurance requirements. Consumable supplies shall be maintained on

a continuous inventory basis.

Major discrepancies in inventories which are not resolved by proper

accounting procedures shall be reported to the Board.

Adopted: 3-16-1994

Amended: 2/13/02

Confirmed:

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Tiverton School Committee Policy Manual