BOARD POLICY – 3440
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:
All equipment items currently valued in excess of $500 (Education Code 35168)
All equipment items purchased with state and/or federal categorical funds that have a useful life of more than one (1) year with an acquisition cost of $500 or more per unit
The inventory shall contain a record of the following information: (Education Code 35168; 5 CCR 3946)
- Name and description of the property
- Identification number
- Original cost of the item of equipment or a reasonable estimate if the original cost is unknown
- Date of acquisition
- Location of use
- The date and method of disposal
Equipment Acquired with Federal Funds
In addition to the information specified in items #1-6 above, the following information shall be recorded for equipment acquired with state and/or federal categorical funds unless otherwise specified in law: (5 CCR 3946; 2 CFR 200.313)
- Source of the property (funding source)
- Titleholder
- Percentage of federal participation in the cost of the property
- Use and condition of property
- Sale price of the property upon disposition and method used to determine current fair market value
Procedures for managing inventory/equipment shall also include:
- At least once every two (2) years, a physical inventory of equipment shall be conducted and the results reconciled with the property records.
- A control system shall be developed to ensure adequate safeguards to prevent loss, damage, or theft of property. Any loss, damage, or theft must be investigated.
Policy Adopted: September 10, 2024