Business Management

Schools need supplies and equipment to operate quality programs. Supplies are consumable items used daily and purchased throughout the school year. Equipment is the furniture and fixtures that last over a period of time. Equipment is inventoried and considered a fixed asset of the district. Large districts may have a central warehouse to store materials. They may take advantage of volume pricing discounts from distributors. Smaller schools rarely have extra space for storage. When a district plans a major purchase or costly project, a bidding process identifies interested vendors or contractors. Once a bid has been approved, a vendor must be used. The administrative code of the district will outline specific procedures for vendors.

Risk management protects businesses from loss or liability. Protecting assets and insuring against injury claims cannot be overlooked or diminished. Some districts self-insure against loss, whereas most purchase commercial insurance.

This resource provides instruction for users to:

• Describe the rules/regulations for capitalizing equipment
• Follow the steps and make considerations for managing risk
• Explain the purpose of risk management
• Describe how schools can capitalize on their supplies and equipment
• Explain the purpose of capitalizing
• Outline the procedures for awarding a bid
• Outline the procedures for issuing a bid
• Identify reasons for which a bid would be issued
• Describe the purpose of a bid
• Identify who is responsible for managing and maintaining school supplies and equipment
• Identify who is responsible for managing the purchase of supplies and equipment
• Identify supplies and equipment typically purchased by a school
• Identify the eight key business operations for running a school system
• Explain how various business operations for running a school system are funded
• Describe the purpose of the various business operations for running a school system
• Provide the criteria for a school business operation