1. SECTION 6.01 – OVERVIEW OF ANNUAL INVENTORY
  2. PROCESSES
  3. A. Overview
  4. B. References
  5. C. District Annual Inventory Processes
  6. D. Management of District Property Matrix
    1. District Inventory Processes

Rev. 08/03
Section 6.01
Page 1 of 2
SECTION 6.01 – OVERVIEW OF ANNUAL INVENTORY

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PROCESSES
Contact: Purchasing @ Extension 4180

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A.
Overview
Board Policy 8360 states that “The Superintendent or designee shall ensure that
inventories of equipment are systematically and accurately recorded and are
updated and adjusted annually by reference to purchase orders and withdrawal
reports. No equipment shall be removed for personal or non-school use except
according to Board Policy.”
The Purchasing area of the Finance Department has been delegated the
responsibility to administrate the maintenance of furniture and equipment
inventory for the following:
Items with a cost of $5000 or higher
Items with a lesser cost but which are “theft sensitive” (per Section 6.03)
The balance of the building contents are not recorded in the central fixed assets
system (IFAS) but are subject to the same Board Policy. Each budget authority
has the responsibility to support a less formal accounting of building contents.

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B.
References
Section 6.02 – Central Inventory Process
Section 6.03 – Definition of Theft Sensitive Inventory
Section 6.04 – Site/Department Inventory Tracking Requirements
Section 6.05 – Moving of Central Inventory/Property Transaction Form
Section 6.06 – District Equipment Checkout for Off-Site Use
Section 6.07 – Surplus of Furniture, Equipment and Books

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C.
District Annual Inventory Processes
Central Inventory Process
– This process is conducted annually for all items
with a value of $5000 or more and for items deemed to be theft sensitive.
This inventory is maintained in the IFAS financial software system and is
reviewed annually by the state auditor for accuracy. All items in this inventory
are purchased and received in the on-line purchasing system and must have
a District inventory tag. Refer to section 6.02 for process requirements.
Site/Department Inventory Tracking Requirements
– Each school site and
some departments have furniture and equipment that are subject to a less
formal inventory process. While certain contents have not been deemed to
be theft sensitive, there is an obligation to the general public to monitor them
to avoid theft. Refer to Section 6.04 for process requirements.
Other Building Contents
– While the balance of building contents are not
maintained in the above noted inventories, each budget authority is
responsible for the reporting of missing property, the transfer or surplus of
property and the checkout of property that is in use off-site.

Rev. 02/06
Section 6.01
Page 2 of 2

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D.
Management of District Property Matrix
District Inventory Processes
Central Inventory Process
School
Site
Central
Inventory
Process
Department &
Categorical
Central
Inventory
Process
Site and Department
Inventory Tracking
Requirements
Balance of District
Inventory
Examples of Inventory
Fixed assets with a value
greater then $5000 and theft
sensitive items per Section
6.03. (i.e. Computer CPUs,
Lap Tops, etc.)
Items that are transitory
in nature such as digital
cameras under $300,
PDAs under $300,
musical instruments,
music equipment, math
calculators under $300,
microscopes, kitchen
equipment, etc.
All other contents of
District buildings
including tables, desks,
chairs, file cabinets,
phones, fax machines,
lamps, books, overhead
projectors, 10-key
calculators, athletic
equipment, carts,
vacuums, kilns, etc.
Requires Annual
Inventory Process
Yes
Yes
Yes
No
Annual Inventory Conducted
by Info. Systems & Tech.
Technician in Coordination
with the Principal
Yes
No
No
No
Annual inventory of
Department/Categorical
Conducted by Staff
No
Yes
Yes
No
Annual Inventory at School
Sites Coordinated by
Principal with Staff
No
No
Yes
No
Requires a Central Inventory
tag with Number and Bar
Code
Yes
Yes
No
No
Property of Everett Public
Schools Label Recommended
Yes
Yes
Yes
No
Requires a Property
Transaction Form to Move
from Room to Room
Yes
No
No
No
Requires a Property
Transaction Form to Move
from Location to Location
Yes
Yes
No
No
Requires a Property
Transaction Form to Surplus
Yes
Yes
Yes
Yes

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