5622 - Insurance and Inventories
|Policy: Insurance and Inventories||Policy Number: 5622|
|Date of Original Policy: 07/10/2002||Date Revision Adopted: 07/08/2020|
|Reviewed by Policy Committee: 06/17/2020||Date of Next Review: 05/22/2023|
|Replacement of Policy Number: 5610 and 5620|
The objective of the Jordan-Elbridge Board of Education is to obtain the best possible insurance at the lowest possible cost, and to seek advice from an Insurance Appraisal Service to determine that adequate coverage is being provided regarding fire, boiler, general liability, bus and student accident insurance.
The Jordan-Elbridge Board of Education shall carry insurance to protect the District’s real and personal property against loss or damage. This property shall include school buildings, the contents of such buildings, school grounds and vehicles.
The Board of Education may also purchase liability insurance to pay damages assessed against board members and district employees acting in the discharge of their respective duties, within the scope of their employment and/or under the direction of the Board of Education.
The Superintendent or their designee shall be responsible for maintaining a continuous and accurate inventory of equipment owned by the District in accordance with “The Uniform System of Accounts for School Districts”.
All supplies and equipment purchased and received by the School District shall be checked, logged and stored through an established procedure.
All insurance policies, along with an inventory of the contents of the building, should be kept in a fireproof depository or with the appropriate insurance agent for safekeeping and referral purposes. The Superintendent shall review the District’s insurance program annually and make recommendations to the Board of Education if more suitable coverage is required.
Public Officers Law Section 18
General Municipal Law Section 6-n and 52
Education Law Sections 1709 (8) and (26) and 34-b), 3023, 3028, and 3811
Uniform Systems of Accounts for School Districts (Fiscal Section)