In order to provide for the proper tracking and control of district property, the Superintendent or designee shall maintain an inventory of equipment in accordance with law for the following:
1. All equipment items currently valued in excess of $500 (Education Code 35168)
2. All equipment items purchased with state and/or federal categorical funds that have a useful life of more than one year with an acquisition cost of $500 or more per unit
(cf. 3290 - Gifts, Grants and Bequests)
(cf. 3400 - Management of District Assets/Accounts)
(cf. 3512 - Equipment)
In addition, the Superintendent or designee may maintain a list of specific items which shall be inventoried for internal control purposes regardless of their initial cost or current value.
The inventory shall contain a record of the following information: (Education Code 35168; 5 CCR 3946)
1. Name and description of the property
2. Identification number
3. Original cost of the item of equipment or a reasonable estimate if the original cost is unknown
4. Date of acquisition
5. Location of use
6. The date and method of disposal
(cf. 3270 - Sale and Disposal of Books, Equipment and Supplies)
Physical Inventory
At least once every two years, a physical inventory of equipment shall be conducted and the results reconciled with the property records. (34 CFR 80.32)
Legal Reference:
EDUCATION CODE
35168 Inventory of equipment
CODE OF REGULATIONS, TITLE 5
3946 Control, safeguards, disposal of equipment purchased with consolidated application funds
16022-16023 Classification of records
16035 Historical inventory of equipment
UNITED STATES CODE, TITLE 20
2301-2414 Carl D. Perkins Career and Technical Education Act
CODE OF FEDERAL REGULATIONS, TITLE 34
80.1-80.52 Uniform administrative requirements for grants to state and local governments
Management Resources:
CALIFORNIA DEPARTMENT OF EDUCATION PUBLICATIONS
California School Accounting Manual, 2008
OFFICE OF MANAGEMENT AND BUDGET COMMUNICATIONS
Circular A-87, Cost Principles for State, Local, and Indian Tribal Governments, rev. May 10, 2004
WEB SITES
California Association of School Business Officials: http//www.casbo.org
School Services of California, Inc.: http://www.sscal.com
White House, Office of Management and Budget: http://www.omb.gov
Regulation PARADISE UNIFIED SCHOOL DISTRICT
approved: May 19, 2015 Paradise, California