Moffat Consolidated School District #2
Policy Type: Executive Limitation
Policy Number: EL-7
Policy Title: ASSET PROTECTION
The Superintendent shall not allow District assets to be unprotected, inadequately maintained or unnecessarily risked.
Further, without limiting the scope of the foregoing by this enumeration, he or she shall not:
1.Fail to insure against theft and casualty losses of property owned or used by the district, and against liability losses to Board members, staff and the organization itself.
2.Subject plant and equipment to improper wear and tear or insufficient maintenance.
3.Make any purchase: (a) wherein normally prudent protection has not been given against conflict of interest; (b) of any material amount without having obtained comparative prices and quality; or without a stringent method of assuring the balance of long term quality and cost.
4.Fail to protect intellectual property, information and files from loss or significant damage.
5.Receive, process or disburse funds under controls that are insufficient to meet the Board-appointed auditor’s standards.
6.Invest or hold operating capital without written investments procedures that, as a minimum identify investment objectives, designate an investment officer, identify eligible depositories and/or Securities broker/dealers, and provide for the allocation of assets.
7.Endanger the district’s public image or credibility, particularly in ways that could hinder the accomplishment of its ends.
Monitoring Method: Internal
Monitoring Frequency: Annual: May
Adopted: September 17, 2001
Revised: November 2001