Policy #313

Title: PROPERTY RECORDS

The Board recognizes the necessity for maintaining an accurate and

complete inventory of all buildings and equipment and the replacement

valuation thereof in order to offer proof of loss in the event of an

insurance claim.

Permanent inventory records shall be maintained describing each unit of capital equipment, its cost, and location or disposition. Each kind of

fixed asset having an estimated life of one year or more and a value as a group of $250 or more, shall be inventoried. All property shall be

inventoried by physical count annually. Any loss shall be reported to

the Board.

It is the policy of the School Committee to maintain an accurate and

complete inventory of all materials and equipment. In order to do so, the

following procedures shall be followed.

The administrative employee responsible for each building owned by

the District shall be responsible for the conduct of the inventory within his/

her building. A copy of the inventory signed by the responsible

administrator shall be submitted to the Assistant Superintendent with a

cover letter listing those items which could not be found, and if none such,

a statement to that effect. The Business Manager will spot check

the inventory as submitted.

A. CAPITAL EQUIPMENT

This category consists of portable equipment of more than $250 unit

value (furniture, typewriter, laboratory apparatus, etc.). A copy of the

prior year's inventory will be supplied along with a listing of equipment

purchased during the year is to be inventoried separately by description,

manufacturer, year of purchase, and location.

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Tiverton School Committee Policy Manual

Policy #313

Title: PROPERTY RECORDS

B. TEXTBOOKS

An inventory of textbooks by title and condition is required annually to

be sure adequate books are on hand for the next school year. Principals

are to inform their staff that each instructor is responsible for maintaining

an accurate record of all textbooks and instructional materials assigned to

him/her. A special departmental book inventory form is to be submitted

each June by each staff member. Principals shall summarize the results by

titles and condition in comparison to the prior year's inventory.

C. SUPPLIES

At year end, a record of the quantities of each item supplied to each

facility shall be submitted to the Business Manager.

Adopted: 9/05/75

Amended: 3/16/94, 2/13/02

Confirmed:

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Tiverton School Committee Policy Manual