FILE:  DIC

FIXED ASSET INVENTORIES

The Concordia Parish School Board directs the Superintendent to maintain a current itemized list of all land, buildings, improvements other than buildings, equipment, and any other general fixed assets which were purchased or otherwise acquired, for which the Board shall be accountable.  The list shall include information as to the date of purchase of the property or equipment if known, the initial cost or estimated initial cost, the disposition, if any, the reason for disposition, and the recipient of the property or equipment disposed of, if applicable.

For property secured before January 1, 1980 for which exact costs cannot be obtained, the estimated value shall be used.

The list shall be kept current and shall be made available to the auditor or accountant at the time of the annual fiscal audit or at any such time as the list may be requested.

An inventory audit shall be made periodically and shall be as comprehensive as deemed necessary to assure that all fixed assets are properly accounted for as required by law.

The principal of each school is responsible for maintaining an accurate, detailed inventory at their particular location in accordance with procedures set by the Superintendent or staff.

Ref:    La. Rev. Stat. Ann. §24:515

Concordia Parish School Board