Common use of Inventory of fixed assets Clause in Contracts

Inventory of fixed assets. The School shall arrange for an inventory of fixed assets, including furniture and equipment utilized by the school in its operations and including the identity of the owner of the furniture and equipment. The inventory shall include the purchase price and serial number of all fixed assets. The inventory shall occur annually. The School shall ensure that its lead administrator maintains the inventory on file is his/her office. The School shall provide a copy of the furniture and equipment inventory to the Sponsor’s Finance Office for accounting purposes.

Inventory of fixed assets. The School shall arrange for an inventory of fixed assets, including furniture and equipment utilized by the school in its operations and including the identity of the owner of the furniture and equipment. The inventory shall include the purchase price and serial number number(s) of all fixed assets. The inventory shall occur annually. The School shall ensure that its lead administrator maintains the inventory on file is in his/her office. The School shall provide a copy of the furniture and equipment inventory to the Sponsor’s Finance Office for accounting purposespurposes by July 15th.