ASSET ACQUISITION, TRANSFER, AND DISPOSAL

ASSET ACQUISITION, TRANSFER, AND DISPOSAL

ag7455Adopted December 5, 2023Revised September 9, 2024

7455 - ASSET ACQUISITION, TRANSFER, AND DISPOSAL

The following procedures apply to the acquisition, transfer, and disposal of capital assets as defined in Board Policy 7455 - Accounting System for Capital Assets. These procedures do not apply to the acquisition, transfer, or disposal of assets whose acquisition or disposition procedures are established by the terms of a grant or by some other circumstance in which a specific asset's acquisition or disposition procedures are dictated.

Transfer and/or Disposal

  1. A request for asset disposal (transfer) is to be submitted to the Director of Business Services for approval.

    The Building Principal will be notified of assets approved for auction.

    When assets are sold, the Director of Business Services shall prepare a list of assets sold and the amount of money received for each.

  2. All Principals shall regularly identify and report to the Director of Business Services all assets not in use.
  3. Periodic physical inventories shall be conducted to ensure accountability for the assets of the entity. The District shall adopt inventory guidelines to become a part of these procedures.

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