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Meeting Date:
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1/15/2020 - 3:00 PM
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Category:
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Consent Calendar
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Type:
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Action
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Subject:
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12.10 BUSINESS: Agreement With AssetWorks for Fixed Asset Physical Inventory Services (funded through the General Fund at a total cost not to exceed $36,500)
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Strategic Plan:
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Enclosure
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File Attachment:
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Summary:
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In order to comply with the requirements of GASB 34/35 for financial reporting as well as asset accountability and depreciation, the Purchasing Department would like to retain the services of AssetWorks. AssetWorks will provide physical inventory and reconciliation services and certified appraisal reports to meet external audit requirements, the financial reporting requirements of GASB 34/35, and proper asset accountability. The services will include a physical inventory of all capital assets of $5,000 or more, physical inventory of critical assets of $500 or more, bar code tagging of capital or critical assets not tagged, inventory reported on the asset template provided by the Riverside County Office of Education, certified appraisal reports, and verification of land/building improvements accomplished or in process during the last two years. The cost for these services is estimated not to exceed $36,500.
The proposed timeline for these services will be for thirteen (13) weeks beginning in February.
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Funding:
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The cost for this item is included in the 2019-20 operating budget funded through the General Fund.
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Recommendation:
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It is recommended that the Board of Trustees approve the Agreement with Assetworks for Fixed Asset Physical Inventory Services.
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Approvals:
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Recommended By:
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Signed By:
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Dawn Bray - Director - Purchasing
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Signed By:
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Candace Reines - Deputy Superintendent
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Signed By:
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Grant Bennett - Superintendent
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Vote Results:
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| Original Motion | | Member Dr. Jose Luis Araux Moved, Member David Nelissen seconded to approve the Original motion 'It is recommended that the Board of Trustees approve the Agreement with Assetworks for Fixed Asset Physical Inventory Services.'. Upon a Roll-Call Vote being taken, the vote was: Aye: 4 Nay: 0. | | The motion Carried 4 - 0 | | | | | Anthony T. Stafford, Sr. | Yes | | Dr. Randall Freeman | Yes | | Dr. Jose Luis Araux | Yes | | David Nelissen | Yes | |
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