Butte School District

Financial Management

7500P

Property Records

New Assets to a Building

• Fixed Asset Property as defined in Policy #7500 including furniture, furnishings, instruments, vehicles, machines, or apparatus valued at $5000 or more will be inventoried and physically tagged. Inventory process will be completed by the Business Department Staff.
• The IT Department shall have the responsibility for operations consistent with this policy and rules. Computers and (IT) equipment valued at $5,000 or more will be inventoried by service tag numbers upon purchase and for receipt. The inventory of all items, valued at $5,000 or more, will be maintained on an ongoing basis and available for inspection at any time.
• The Supervisor of Music and Fine Arts shall have the authority and responsibility for operations consistent with this policy and rules. District musical instrument inventory will be maintained on an ongoing basis and available for inspection at any time.
• All equipment items of $5,000 or more that are purchased from Federal Funds will be tagged with district inventory tags and also identified with an additional tag “FEDERAL” for annual review and 5 year replacement review. Additionally, purchases using federal funds will follow federal procurement requirements.
• Every building will be video-taped for insurance purposes on a revolving cycle. Each Building Administrator will be responsible for ensuring the completion of this videotaping process. Each room by scope and contents will be videotaped with audio content explanation. Video’s will be stored at the District Office Building by building and kept current for insurance value purposes.

Removal or Disposal of Assets

• The removal or disposal of an asset must be approved by the building or department administrator. Refer to Policy 7251for disposals.

Asset Tags

• All assets meeting the following criteria well be assigned and Asset Tag
  • Capital assets in excess of $5000
  • At the request of an Administrator, Director, or the Superintendent

Asset Accounting

• Purchase Orders must clearly identify the item(s) on a unique PO line item.

Personal Use of District Assets

• The personal use of all District assets not covered by the cell phone and technology use polices must be approved by a building or department administrator with direct authority over an asset or by the Superintendent.
• Form 7500F must be completed for the release and return of an assets
• All assets must be returned within 24 hours of a request of by a building or department administrator with direct authority over an asset or by the Superintendent.
• Building or department administrators with direct authority over and asset will be responsible for replacement of lost or stolen property from individual building budgets unless reimbursements are made by insurance or other sources.