Policy Statement:

Lakeway Christian Schools (LCS) is committed to effective asset control and management to safeguard the school's valuable resources and promote transparency and accountability in financial operations. This policy outlines the principles and procedures governing asset control within LCS.

Objective:

To establish a structured framework for the proficient management, utilization, and safeguarding of Lakeway Christian Schools’ (LCS) assets, ensuring their optimal use in delivering quality educational services while adhering to ethical standards and legal compliance.

Asset Management:

• Accountability: Ensure that all assets are accounted for and managed responsibly to sustain their value and functionality.
• Inventory: Maintain a comprehensive, up-to-date inventory of all assets, including their acquisition date, cost, location, and condition.

Asset Utilization:

• Optimal Use: Assets should be deployed and used in a manner that maximizes their benefit to LCS’s educational and extracurricular programs.
• Accessibility: Ensure that assets are accessible to relevant personnel while ensuring their safekeeping and proper use.

Asset Protection:

• Security: Implement appropriate physical and digital security measures to protect assets from theft, damage, and unauthorized use.
• Maintenance: Regular maintenance schedules should be adhered to, prolonging the lifespan and efficacy of assets.

Legal and Ethical Compliance:

• Compliance: Ensure that the acquisition, management, and disposition of assets comply with legal standards and ethical norms.
• Documentation: Maintain thorough documentation of all asset transactions and status to ensure traceability and transparency.

Asset Lifecycle Management:

• Acquisition: All acquisitions should be performed in accordance with LCS’s purchasing policies and budgetary constraints.
• Disposition: Establish guidelines for the responsible disposal, sale, or recycling of assets when they reach the end of their useful life.

Technology and Digital Assets:

• Data Protection: Implement stringent data protection and cybersecurity protocols to safeguard LCS’s digital assets.
• Software Management: Ensure the legal and efficient use, update, and renewal of software and digital resources.

Physical Infrastructure:

• Building Management: Ensure that LCS’s buildings and physical infrastructure are safe, compliant with regulations, and conducive to a positive learning environment.
• Resource Allocation: Strategically allocate physical spaces and resources to meet the dynamic needs of the educational programs and activities.

Rationale for the Policy:

This overarching policy lays the groundwork for meticulous asset control, aiming to:

• Preserve Value: Safeguard LCS’s investments in assets by managing them proficiently, thus preserving their value and functionality.
• Support Educational Goals: Ensure that assets contribute effectively to achieving LCS’s educational and ministerial objectives.
• Maintain Legal and Ethical Standing: Safeguard LCS against legal ramifications and uphold its ethical standing by ensuring transparent and compliant asset management.
• Underlying policies in the 2.800 policy series should delve into the specifics of various aspects of asset control, offering detailed guidelines on their particular areas of focus.