DOCUMENT

POL - Award - OA4 Fixed Asset Tracking Tool Example 2004

  • YEAR CREATED: 2004
  • ENTITY TYPE: K-12
  • TYPE OF DOCUMENT: POL - Policies/Procedures
This document is a regulation from Prince William County Public Schools regarding the management and inventory of property. It states that budget holders are responsible for verifying the accuracy of their inventory listing by conducting a physical inventory annually and returning a signed copy to Supply Services. Any exceptions to the inventory should be noted with an explanation either in memo form or directly on the inventory print-out, with supporting documentation attached. A status report of discrepancies per school should be forwarded to the Superintendent by September each year. The regulation also requires budget holders to maintain records of the purchase and disposition of all expendable, non-expendable, and fixed property at their location. These records should be made available to authorized auditors and central office administrators. The records should include copies of receipt documents, gift letters, and internal school division transaction documents, and should be maintained in accordance with Records Retention Schedules. The document mentions that the inventory and transaction records of each budget holder are subject to audit at any time. An audit will be conducted by a team coordinated by the Supervisor of Supply Services to check the physical count of property, proper documentation of transactions, and the presence of county tags on applicable non-expendable items. Budget holders are responsible for managing property in accordance with the regulation, and the Supervisor of Supply Services is responsible for implementing and monitoring the regulation.
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