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Board Policies

Updated

Adoption Date: 06/22/2021

Revision History: 05/24/22 (reviewed), 4/11/23 (reviewed)

The school district will assume the risk of property damage, legal liability, and dishonesty in cases in which the exposure is so small or dispersed that a loss does not significantly affect the operation of the education program or financial condition of the school district.

Insurance of buildings, structures, or property in the open will not generally be purchased to cover loss exposures below $1,000 unless such insurance is required by statute or contract.

The board may retain a private organization for capital assets management services.

Administration of the insurance program, making recommendations for additional insurance coverage, placing the insurance coverage and loss prevention activities is the responsibility of the superintendent or designee. The superintendent or designee is responsible for maintaining the capital assets management system, processing claims and maintaining loss records.

Policy References:

Legal Reference:

Iowa Code §§ 20.9; 85.2; 279.12, .28; 285.5(6), .10(6); 296.7; 298A; 517A.1; 670.7.

Cross Reference:

205 Board Member Liability
802.4 Capital Assets
802.4R1 Capital Assets - Regulation
802.4R2 Capital Assets - Management System Definitions
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