Warrington School/Board Of Trustees/Asset Protection Policy

Asset Protection Policy (National Administration Guideline 4)

The board of trustees is required in particular to ensure that assets may not be unprotected, inadequately maintained or unnecessarily risked. The board of trustees is responsible for over viewing the programming and funding of general maintenance of the school grounds, buildings, facilities and other assets to provide a clean, safe, tidy and hygienic work and learning environment for students and staff.

Accordingly, the principal must:

• insure assets
• not allow unauthorised personnel or groups to handle funds or school property
• not subject plant and equipment to improper wear and tear or insufficient maintenance or inappropriate use
• maintain an up to date asset register for all items of furnishing, plant machinery, equipment, text and library books costing more than $500.00
• ensure the implementation of the 10 year property maintenance plan
• engage sufficient property maintenance staff for the school within budget limitations
• receive board approval for maintenance contracts over $5000 for any one contract
• conduct competitive tenders for all contracting
• protect intellectual property, information and files from loss or significant damage or unauthorised access or duplication
• not receive, process or disburse funds under controls that are insufficient to meet the board-appointed auditor’s standards
• not invest or hold operating capital in insecure accounts, or in non-interest bearing accounts except where necessary to facilitate ease in operational transactions.

Review schedule: Triennially