DM-3  (May 2009)

FIXED ASSET ACCOUNTABILITY PLAN: RESOLUTION                                    

Be it hereby resolved that this school board hereby approves and adopts the "Fixed Asset Accountability Plan for the Senatobia Municpal School District".  The policies included in the Fixed Asset Plan have been adopted by the school board.

This district's fixed asset accountability plan has been developed according to "Criteria for Establishing Fixed Asset Accountability Plans for Mississippi Public School Districts" issued August 1995 by the State Auditor's Office.  This Fixed Asset Plan, along with the board's resolution, shall be submitted to the State Auditor's Office for review and approval by December 31, 1995.

This district's fixed asset accountability plan shall be implemented beginning with the 1996-97 fiscal year (July 1, 1996).  This school district shall obtain an unqualified audit opinion on its financial audit for the 1996-97 fiscal year.

Standard 10.1 is as follows:

10.1     The board of education has implemented a fixed asset system of accountability that complies with the standards established by the State Auditor=s Office for the verification of fixed assets and the auditing of fixed assets records.  {MS Code 37-17-6 (16)}

NOTE: Please refer to the State Auditor's Memorandum on "Fixed Asset Accountability" dated April 1995 and to "Criteria for Establishing Fixed Asset Accountability Plans for Mississippi Public School Districts" issued August 1995 by the State Auditor's Office.

LEGAL REF.: MS CODE Section 37-17-6 (16)

Mississippi Public Schools Accountability Standards

CROSS REF.: Policy DM-1 C Fixed Asset Accountability Plan