Policy 3316 - Purchase of Equipment by Student Organizations

Purchase of Equipment by Student Organizations

Student body organizations will follow the same procedures for the purchase of equipment as are followed in the purchase of supplies and materials. In addition, the following shall apply:

1. Any equipment purchased from student body funds with a value in excess of $1,000 shall be reviewed by the Executive Director, Fiscal Services, or designee.
    
2. Any contract or lease purchase agreement shall be approved by the business office and legal counsel as to form.
    
3. Contracts or lease purchase agreements should not exceed three years. For any contract or agreement extending beyond one year, the Executive Director, Fiscal Services, will ascertain the student organization's ability to meet the financial liability incurred.
    
4. Sufficient student body funds shall be encumbered at the beginning of each fiscal year to meet all contract or agreement obligations for that year.
    
5. Student body organizations may either:

a. donate purchased equipment to the district; or
b. maintain its own inventory procedures and appropriate insurance coverage for equipment