7.13—MANAGEMENT AND DISPOSAL OF DISTRICT PROPERTY Definitions For the purposes of this policy, the following definitions apply: “Commodities” are all supplies, goods, material, computers, software, machinery and other equipment purchased on behalf of the district having a useful life of more than one year and an acquisition cost of $1,000 or more per unit. “Surplus commodities” are those commodities that are no longer needed, obsolete, irreparable, or worn out. “Real property” is land and whatever is erected or affixed to land, such as structures or buildings. “Surplus real property” is real property that is not presently needed or foreseen to be needed by the District, and that has been authorized for sale as surplus real property by vote of the School Board. "Trash" are those items that would otherwise belong to another category of goods or property defined in this policy, but which, due to the property's age or an act of God, have less value than it would cost to repair the item. Examples could include, but are not limited to, fire damage, vehicle accidents, extreme age and/or decline in value of the item. The District’s purchases of commodities shall be in accordance with Policy 7.5—PURCHASE AND PROCUREMENT and, to the extent applicable, the procurement requirements of any granting source of funding used to purchase the commodity. The Superintendent shall develop procedures governing the use, management, and dispersal of commodities. At a minimum, the procedures will cover the following topics: labeling all commodities establishing adequate controls to account for their location, custody, and security; annually auditing the inventory of commodities and updating a listing of such commodities to reconcile the audit with the district’s inventory records. The audit will be documented and account for any transfer and/or disposal of a commodity.
7.13—MANAGEMENT AND DISPOSAL OF DISTRICT PROPERTY Definitions For the purposes of this policy, the following definitions apply: “Commodities” are all supplies, goods, material, computers, software, machinery and other equipment purchased on behalf of the district having a useful life of more than one year and an acquisition cost of $1,000 or more per unit. “Surplus commodities” are those commodities that are no longer needed, obsolete, irreparable, or worn out. “Real property” is land and whatever is erected or affixed to land, such as structures or buildings. “Surplus real property” is real property that is not presently needed or foreseen to be needed by the District, and that has been authorized for sale as surplus real property by vote of the School Board. "Trash" are those items that would otherwise belong to another category of goods or property defined in this policy, but which, due to the property's age or an act of God, have less value than it would cost to repair the item. Examples could include, but are not limited to, fire damage, vehicle accidents, extreme age and/or decline in value of the item. The District’s purchases of commodities shall be in accordance with Policy 7.5—PURCHASE AND PROCUREMENT and, to the extent applicable, the procurement requirements of any granting source of funding used to purchase the commodity. The Superintendent shall develop procedures governing the use, management, and dispersal of commodities. At a minimum, the procedures will cover the following topics: labeling all commodities establishing adequate controls to account for their location, custody, and security; annually auditing the inventory of commodities and updating a listing of such commodities to reconcile the audit with the district’s inventory records. The audit will be documented and account for any transfer and/or disposal of a commodity.
7-Business_and_Financial_Management2016-17.docx