Pays AssetWorks up to $225,000 to verify the district's equipment inventory through 2024

AssetWorks Risk Management will inspect district sites and verify its inventory of machinery and equipment that cost $500 or more. The data supports the district's accountability for capital assets, its financial reporting under Governmental Accounting Standards Board rules, and its outside audit. The agreement runs July 1, 2023 through December 31, 2024 and is capped at $225,000.

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

Notes on the official text

The title says Services Agreement 2023-2024 while the action text says Services Agreement 2022-2023, but the text's explicit period of July 1, 2023 through December 31, 2024 governs.

Vendor / partner: AssetWorks Risk Management Inc · Pittsburgh, PA
Action: New agreement
Category: Budget, finance & payments
Term: Jul 1, 2023 – Dec 31, 2024
This vote: $225,000
Presented by: Chief Financial Officer
File: 23-1278 · agenda T.-6
Outcome: Adopted on the General Consent Report, Jun 7, 2023

Official text

Approval by the Board of Education of a Services Agreement 2022-2023 by and between the District and AssetWorks Risk Management Inc, Pittsburgh, PA, for the latter to conduct an onsite inspection to perform an inventory verification of machinery and equipment fixed assets with an original cost of $500.00 and greater, with resulting data providing District proper accountability and stewardship of capital assets, assisting with the financial reporting requirements of Governmental Accounting Standards Board (GASB) 34, and external audit requirements, with additional detail in vendor proposal, for the period of July 1, 2023 through December 31, 2024, in an amount not to exceed $225,000.00, via the Risk Management Department.

History

Jun 7, 2023 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.