OP6 Asset Protection Policy

Purpose of the Asset Protection Policy

The purpose of the asset protection policy is to set out the processes that apply with respect to the identification of a capital asset as such, identify responsibilities and accountability in relation to the school’s capital assets.

Policy

The Principal is delegated day to day responsibility for ensuring that the programming and funding of general maintenance of the school grounds, buildings, facilities and other assets occurs in order to provide a clean, safe, tidy and hygienic work and learning environment for students and staff.

Responsibilities of the Principal

Accordingly, the Principal must:

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

Relevant Legislation

Including but not limited to;

• Education Act 1989
• National Administration Guidelines

Document Management and Control