Special Information when Individual Schools Pay for Fixed Asset Items


Section: IV – Purchasing
Page: 26
Subject: Special Information when Individual Schools Pay for Fixed Asset Items
Effective: July 1, 2000

Local School Funds

The following purchasing procedures apply to the use of local school funds.

1. The purchase of any fixed asset item with local school funds, regardless of cost, must be handled by the Purchasing Department, even though the funds to pay for the item may come from school sources.

a.  Write “school to pay” and the equipment account code (4.9203.093.541.XXX, where XXX is the respective school location number) in the account code block of the purchase requisition.

b. Send the purchase requisition to the Purchasing Department. When the order has been issued, the goods received, and the invoice received, the monthly report will indicate the total amount due. The school shall send a check to the Accounting Department for the overdraft amount.

2. Construction and repair work is to be handled by the Director of Maintenance.

3. Purchases totaling $2,500 or more are required to have proper bid documentation attached to the purchase order.

4. See Purchasing Sections in the Local School Fund Accounting Procedures Manual for additional information and related procedures.