CHESTER TOWNSHIP BOARD OF EDUCATION                  POLICY:  3440

 

 

 

                                                             INVENTORIES

 

 

The Board Secretary shall maintain an accurate and complete inventory of all buildings, 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.

 

The inventory shall be updated to reflect new equipment and shall be verified in a cycle to coincide with the re-issuance of insurance policies.  Loss of any portable capital equipment of $ 200.00                         unit value or more shall be reported to the Board.  Consumable supplies shall be maintained on a continuous inventory basis.

 

Major discrepancies in inventories, that are not resolved by proper accounting procedures, shall be reported to the Board by a district auditor and his annual report.

 

The Board shall determine when it is necessary to hire an outside service to assist in appraisal.

 

 

Date:  October 8, 2002

 

 

Legal Reference:       N.J.S.A.  18A:11‑2    Power to sue and be sued; reports; census of school children

 

 

Cross References:     3530                      Insurance management

                                3570                      District records and reports

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

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