FILE: DIC
INVENTORIES
The Ascension 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 on all items costing $1,000.00 or more and having a useful life of more than one year, except items purchased with Louisiana Quality Support Fund 8(g) funds, which shall be $250.00. Information to be included shall be the date of purchase of the property or equipment, the initial cost, and the disposition, if any, and the purpose for disposition and the recipient of the property or equipment disposed of.
The list shall be kept current and shall be made available to the legislative auditor at the time of his/her examination or at any such time as the auditor may request.
An inventory audit shall be made annually and shall be as comprehensive as deemed necessary to assure that all fixed assets are properly accounted.
Revised: June, 2002
Ref: La. Rev. Stat. Ann. §24:515
Louisiana Accounting and Uniform Governmental Handbook, Bulletin 1929, Louisiana Department of Education
Ascension Parish School Board