6801 Policy – Fixed Assets

The Board of Directors of the Bellingham School District recognizes the need to establish a comprehensive fixed assets inventory program for control and custodianship over District assets, as required by law.

Property records and inventory records will be maintained on land, buildings, and personal property owned by or under the control of the Bellingham School District. Such records shall be updated periodically with physical inventories, purchase orders, damage and loss reports and declarations of surplus property.

For purposes of this policy, personal property, such as machinery and other equipment, shall be inventoried if they meet either of the following criteria:

1. The value of the item is $5,000.00 or greater; or,

2. The item is “theft sensitive.”

“Theft sensitive” assets are defined as easily moveable, concealable, portable, or desirable items with a unit cost of $300 to $4,999.00.

District personal property which is inventoried in accordance with the above guidelines will be identified with a tag or engraving that provides appropriate district and property identification.

 

Approved By: Kenneth D. Vedra
Adopted: 09/12/96
Revised: 06/26/08
Approved: Superintendent Approved
Legal References: Content
 

RCW 43.09.200   Local government accounting—Uniform system of accounting.

RCW 43.09.240    Local government accounting—Public officers and employees—Duty to account and report—Removal from office—Deposit of collections.