Doc No.

: IM01
Version. : V1
Revision. : R1
Date. : OCT 1/20

MANAGEMENT/INVENTORY POLICY

INTRODUCTION
The aim of this policy is to provide a system that manages and protects Step
Together’s (ST) assets, enabling identification and establishment of ownership
of equipment, identifying missing items following say burglary or other
incidents of theft and supporting claims when items are destroyed by fire.
Items such as stationery etc. are consumable but they should also be
adequately safeguarded.
Contents:

1. Tracking WHY CREATE AN INVENTORY?

2. Update There are many reasons why it’s a good idea to keep an inventory of all ST’s
3. Care
equipment. Most important is that, without one, you won’t know what the
4. Inventory
5. Asset Identification school owns, where each item is and how much every asset is worth. This
6. Monitoring record of your assets is useful for both general information and security
7. Disposals purposes. Here are some other reasons why inventories come in handy:
8. This Document • Allowing capitalized assets to be accounted for properly
• Making it possible to create management reports
• Allowing for future planning
• Improving accountability

TRACK HOW YOUR ASSETS ARE USED

Your inventory will quickly become inaccurate and difficult to maintain if you
don’t track how your assets are used. Equipment will inevitably get moved to
different buildings, rooms and even schools if you are part of trust – wherever
it is needed. If you don’t make of note of when this happens, assets will get
lost, which could cost big money if you end up buying a replacement you
don’t require.
It’s also common for students and teachers to borrow school assets and take
them home, such as laptops, iPads and text books. These are valuable items
that, if not tracked, could easily become lost or stolen.
A loan system will be in place that details who the item is with and when they
are due to return it.

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 Doc No. : IM01
Version. : V1
Revision. : R1
Date. : OCT 1/20

UPDATE IT REGULARLY
It’s an obvious point to make, but if you forget to update your school inventory, it will quickly become
inaccurate. The longer you leave it, the more time it will take to update, which isn’t an efficient way for
your or your staff to work. All assets within the inventory should be checked at least once a year. The
database should be updated according to any change. Whenever an item goes missing, the inventory
should be updated immediately.

Remember: Never delete an item from an inventory, even if it has been written off, sold or disposed of.
It’s important to keep a complete record of everything ST has ever owned.
To avoid confusion, you can store the information about these assets in a separate inventory which
explains why they were written off, sold or disposed of – for example, the asset may have gone missing,
been damaged or was simply no longer needed.

CARE AND CUSTODY

It is the responsibility of all members of staff to ensure the care and custody of all assets, equipment and
stock within the school. Members of staff shall:
1. Ensure that ST assets are not removed and are only used for community and school business unless
otherwise directed by the management.
2. Ensure that whenever ST property, such a computer, cameras etc. are taken off site, appropriate
procedures are in place to ensure they are accounted for and properly controlled.

INVENTORY
An inventory of equipment is maintained with details of the date of acquisition, description, serial number
and location. The inventory is undertaken by teachers and is overseen by the management. The inventory
spreadsheet is backed up as part of remote IT backup. Items considered to be Fixed Assets with a value of
more than $100 are included on the spread sheet.

ASSET IDENTIFICATION
A description (i.e. part number) is displayed on the spread sheet and on the asset so that each individual
item can be identified.

MONITORING OF INVENTORY
Spot checks of inventory are carried out on an ad hoc basis by a designated administrator. This person
confirms that inventory has been identified. These ad hoc checks are recorded in the administration
minutes.

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 Doc No. : IM01
Version. : V1
Revision. : R1
Date. : OCT 1/20

DISPOSALS OF INVENTORY ITEMS

Equipment that is disposed of that has been recorded within the Inventory, must be authorized by the
Teacher, or a member of the ST section and witnessed by a second member of staff. This is to minimize
the rise of inappropriate or unauthorized disposal of equipment and misappropriation of stock.
The sale of any school equipment with a replacement value of up to $500 USD must be authorized by the
President and then must be signed off on the fixed asset register in the normal way.
If any school or community equipment items are to be sold, the sale will be agreed by the Finance
Committee and goods will first be made available to staff, and then to parents and the wider community.

If any item over $500 USD is to be disposed of, a senior manager is also to be involved and is to
countersign the Inventory. A report of all these disposals is to be given to the Finance Committee at their
next meeting after the sale.
Any item that is not on the inventory may be disposed of at the discretion of the teacher.

In respect of IT equipment and media which may contain student or ST data, the IT department will
ensure that all data is erased, and hard disks wiped clean prior to any sale or disposal.

Laptops
Laptops which have been designated as being used by and available to a particular member of staff – this
will be highlighted on the Asset register.

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 Doc No. : IM01
Version. : V1
Revision. : R1
Date. : OCT 1/20

THIS DOCUMENT

Was approved by the Chair/Finance/Committee……………………………….

Signed:…………………………..
Chair of Committee

Date:………………………………….

Approved by the Vice/Full Admin

Signed:- ………………………………..
Vice/Full Admin

Date:……………………………………..

Monitoring and Review

This policy is monitored by the administration and it will be reviewed every year or earlier if necessary.

Ratification
This policy was agreed and adopted by our Administration

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