Operational Expectations (OE) Policies

Policy: OE-07

Title: Asset Protection

Status: Retired

Adopted: February 27, 2018

Retired: January 28, 2025

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Asset Protection

The Superintendent will assure that all District assets are adequately protected, properly maintained, appropriately used, and not placed at undue risk. 

The Superintendent will:

1. Maintain property and casualty insurance coverage on District property with limits equal to 100 percent of replacement value.

2. Maintain both Errors and Omissions and Comprehensive General Liability insurance coverage protecting Board members, staff, and the District itself in an amount that is reasonable for school districts of comparable size and character.

3. Adequately protect the District against theft or misappropriation of funds by any personnel who have access to material amounts of District and school funds.

4. Protect intellectual property, information, files, records, and fixed assets from loss or significant damage.

The Superintendent may not:

5. Allow facilities and equipment to be subject to improper use or insufficient maintenance.

6. Recklessly expose the District, the Board, or staff to legal liability.

7. Invest funds in investments that are not secured or that are not authorized by law.

8. Purchase or sell real estate, including land and buildings.

 9.Take any action that damages the District’s public image or credibility.

 

Adopted 02.27.2018

Reviewed 07.30.2019

 

Monitoring Method:          Internal report

Monitoring Frequency:     Annually