Common use of Accounting of Assets Clause in Contracts

Accounting of Assets. ‌ i. The IPCSC shall provide to the school a written guidance document with regard to the sale and dissolution of assets. ii. The school shall be responsible to provide the IPCSC and the SDE with a full inventory of all physical assets owned by the corporation within 30 days of the date on which the notice of closure was issued. iii. The inventory shall include: a. A description of the item; b. The fund with which each item was purchased; and c. An estimate of the current value of the item.

Accounting of Assets. ‌ i. The IPCSC shall provide to the school a written guidance document with regard to the sale and dissolution of assets. ii. The school shall be responsible to provide the IPCSC and the SDE with a full inventory of all physical assets owned by the corporation within 30 days of the date on which the notice of closure was issued. iii. The inventory shall include: a. A description of the item; b. The fund with which each item was purchased; and c. An estimate of the current value of the item.