The CEO shall not allow assets to be unprotected, inadequately maintained, inappropriately used or unnecessarily risked.

Accordingly, the CEO may not fail to:

1. Maintain adequate insurance coverage against theft and casualty losses.

2. Maintain insurance coverage against liability losses to Board members, staff and the district itself in an amount that is reasonable for school districts of like size.

3. Ensure that employees who handle district and school funds are bonded.

4. Ensure that facilities and equipment are not subject to improper wear and tear or insufficient maintenance.

5. Protect against negligent exposure of the district, the Board or staff to legal liability.

6. Protect intellectual property, information, files, equipment and fixed assets from loss or significant damage.

7. Properly preserve and dispose of all records related to affairs or business of the district.

Additionally, the CEO may not:

1. Invest funds in securities that are not authorized by law.

2. Acquire, encumber or dispose of real property.

3. Endanger the district’s public image or credibility, thereby jeopardizing its ability to accomplish its mission.

Adopted:  07.07.03

Monitoring Method:          Internal Report
Monitoring Frequency:     Annually in January

Lake Washington School District Board of Directors