To provide control and accountability over Sno-Isle Libraries assets and to comply with the Washington State Office of Financial Management's Financial and Administrative Policies, Regulations, Procedures and Guidelines.
Sno-Isle Libraries shall have procedures and guidelines for identifying, tracking, and safeguarding:
Capital Assets for the purpose of this policy include all land, buildings, and remaining fixed assets with a unit cost of $5,000 or greater.
Small and Attractive Assets
Small and Attractive Assets for the purpose of this policy include fixed assets with a unit cost of greater than $300 and less than $5,000 that are considered particularly vulnerable to loss. In compliance with the Washington State Office of Financial Management's Administrative and Accounting Manual, the items in the following categories must be considered when determining what will be considered small and attractive assets:
Print materials, DVDs, CDs, and other library collection material intended for customers' use are not considered fixed assets for the purposes of this policy.
An annual risk assessment shall be done to determine which assets or asset categories are small and attractive assets. The assessment shall be conducted by the Administrative Services Director in conjunction with managers from the Technical Services & Facilities Development and Community Libraries & Information Technology departments. A listing of the types of assets considered to be small and attractive will be maintained.
All Capital Assets and all assets considered small and attractive shall have a numbered identifying tag attached when purchased. A record of the asset and its related tag number shall be maintained.
A physical inventory of all Capitalized Fixed Assets and all Small and Attractive Assets will be conducted a minimum of once a year.
Adopted by the Board of Trustees October 25, 2010