Over the years I have been asked for cost estimates to conduct an inventory of school furniture and equipment assets. Many have been from the financial aspect driven by Accounting or the District CFO and include buildings and grounds. Yes, from the stand point for insurance purposes making sure the District is accurately covered for replacement costs makes sense. However, the value of an asset inventory from the facilities view point is most often overlooked or not taken into consideration. What do I mean by that?
Once a barcode labeled inventory is completed, not only do you have, in the event of something catastrophic, a replacement cost by building, by room for insurance purposes. In addition, you also have a powerful planning tool for replacement programs and best furniture utilization by school building.
Many Districts have some type of modernization program continually going on as budgets are approved. Considerable sums of public money can be saved through proper management and cost avoidance.
As an example, we were involved with a 56 school district where we inventoried all schools but what we did different was, we categorized each individual asset by asset condition. With the data collected and summarized we determined which schools were in most need for replacement, located excess inventory that was assimilated back into use minimizing new purchases the following year and beyond. Results can be cost savings in the hundreds of thousands of dollars.
Don’t overlook the school facilities groups needs when considering or contracting for the next inventory. For a free consultation 585-671-0544.
Centennial Associates, Inc.