DISPOSAL AND WRITE OFF POLICY
· The Headteacher is authorised to dispose of surplus, damaged or scrap stock, materials or equipment on the best possible terms, where the estimated realisable value of the materials does not exceed £500. Where the estimated realisable value exceeds £500 quotes need to be obtained, and the approval of the Governing Body Finance Committee must be sought.
· Records of disposal of items with an estimated value exceeding £200 will be kept.
· Monies accrued will be allocated back into school budget.
2. Write Offs
· The Headteacher shall be authorised to write off any debt owing to the school to the value of £100 for any one item, providing that he is satisfied that proper steps have been taken to mitigate the loss and prevent recurrence and has obtained Local Authority sanction. This may, for example, be in respect of school meal debts, lettings, damage to the school or contents, charges levied by the school (e.g. music tuition). Any debt in excess of this shall be written off by the Governing Body Finance Committee after sanction by the Local Authority.
Records of write offs shall be kept.