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Castro Valley USD |  BP  3440  Business and Noninstructional Operations

Inventories   

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In order to provide for the proper control and conservation of district property, the Superintendent or designee shall maintain an inventory of equipment in accordance with law for the following:

1. All items currently valued in excess of $500 (Education Code 35168)

2. All items purchased with federal funds that have a useful life of more than one year with an acquisition cost per unit of $5,000 or more (34 CFR 80.3)

(cf. 3270 - Sale and Disposal of Books, Equipment and Supplies)

(cf. 3290 - Gifts, Grants and Bequests)

(cf. 3512 - Equipment)

The Superintendent or designee shall maintain an inventory of all property. The following information must be recorded: (Education Code 35168)

1. Name and description of the property

2. Name of Titleholder

3. Serial number or other identification number

4. Cost of the property (a reasonable estimate may be used if original cost is unknown)

5. Acquisition date

6. Location of use

7. Any ultimate disposition data including the date and method of disposal and sale price

8. Source of the property (funding source)

9. Use any condition of property

10. Percentage of federal participation in the cost of the property

At least once every two years, a physical inventory shall be conducted and the results reconciled with the property records. (34 CFR 80.32)

Each school shall maintain a copy of its inventory and provide a copy of this inventory to the district office. Copies of all district inventories shall be kept at the district office.

Legal Reference:

EDUCATION CODE

35168 Inventory of equipment

CODE OF REGULATIONS, TITLE 5

3946 Control, safeguards, disposal of equipment purchased with consolidated application funds

16022-16023 Classification of records

16035 Historical inventory of equipment

UNITED STATES CODE, TITLE 20

2301-2414 Carl D. Perkins Career and Technical Education Act

CODE OF FEDERAL REGULATIONS, TITLE 34

80.1-80.52 Uniform administrative requirements for grants to state and local governments

Management Resources:

CALIFORNIA DEPARTMENT OF EDUCATION PUBLICATIONS

California School Accounting Manual, 2008

OFFICE OF MANAGEMENT AND BUDGET COMMUNICATIONS

Circular A-87, Cost Principles for State, Local, and Indian Tribal Governments, rev. May 10, 2004

WEB SITES

California Association of School Business Officials: http//www.casbo.org

School Services of California, Inc.: http://www.sscal.com

White House, Office of Management and Budget: http://www.omb.gov

Policy CASTRO VALLEY UNIFIED SCHOOL DISTRICT

adopted: October 24, 2001 Castro Valley, California