Current Status: Issued
Original Issue Date: 08/28/04
Reviewed: 08/28/05, 08/06, 08/07, 08/09
Next Review Date: 08/28/2010
Document Number: TR IT 04 VO1
POLICY INFORMATION
Subject:
Equipment Inventory and Tracking
Policy:
It is the policy of the Iroquois-Kankakee Regional Office of Education Teen REACH Program that an inventory record will be kept on file of any item costing $100 or more with a useful life of one year or more. The inventory record for these items will be kept on file for three years.
Procedure:
- The inventory record is cumulative and updated annually.
- Equipment items purchased for the I-KAN ROE Teen REACH program costing $100 or more with a useful life of one year or more is inventoried and tagged.
- The items costing $100 or more with a useful life of one year or more will be documented on a regularly updated inventory record. Items that do not meet this standard will not be included on the inventory form. The inventory record will include:
- A description of the item.
- Inventory identification (I.D.) Number. This can be a manufacturer's serial number or other I.D. number, but it must be permanently affixed to the item.
- Acquisition date and cost.
- From whom purchased
- Location and condition of the item.
- If a site discontinues Teen REACH services or chooses to dispose of an inventoried item purchased with Teen REACH funds the item reverts back to the Iroquois-Kankakee Regional Office of Education.
- Inventoried items with an acquisition cost of $500 or more and a useful life of two years or more, purchased in whole with IDHS funds, may be transferred to the Department, if requested, in order to adhere to the requirements of the Community Services Agreement, upon termination of the Community Services agreement. No property can be disposed of without prior written authorization of the Illinois Department of Human Services.
