$165Knot to exceed

Pays AssetWorks up to $165,000 to inventory district machinery and equipment

AssetWorks will inspect the district's machinery and equipment worth $500 or more at its sites and verify its inventory against records, including additions, disposals and transfers since the last physical inventory (as of June 30, 2019). This helps the district meet financial reporting rules, state and federal requirements, and its own board policies. The work runs January 10 to December 31, 2022, at no more than $165,000.

Plain-English summary written by AI from the official text. AI summary · amounts checked against official text

Vendor / partner: AssetWorks · Pittsburgh, PA
Action: New agreement
Category: Budget, finance & payments
Term: Jan 10, 2022 – Dec 31, 2022
This vote: $165,000
Presented by: Chief Financial Officer
File: 21-2491 · agenda V.-4
Outcome: Adopted on the General Consent Report, Oct 13, 2021

Official text

Approval by the Board of Education of a Services Agreement 2021-2022 by and between the District and AssetWorks, Pittsburgh, Pa, for the latter to provide an onsite inspection to perform an inventory verification of machinery and equipment fixed assets with an original cost of $500 and greater reflecting all additions, disposals, and transfers since the last physical inventory performed as of Fiscal Year ending June 30, 2019, assisting the District in (1) meeting financial reporting requirements and the implementation of Governmental Accounting Standards Board's (GASB) Statement 34; (2) conforming to the requirements of the California Education Code and the Code of Federal Regulations; and (3) fulfilling the requirement to perform a periodic physical inventory as set forth in District Board Policies, via the Risk Management Department, for the term January 10, 2022 through December 31, 2022, at a cost not to exceed $165,000.00.

History

Oct 13, 2021 Adopted on the General Consent Report

This is an independent project created to provide transparency to the OUSD Community, and is not affiliated with Oakland Unified District. All data used to create the Consent Report Tracker is made public by Legistar, OUSD's official platform for posting legislative records. Plain-English summaries are written by AI with narrow parameters based upon the official text of the reports. Read about how all this works.