A-20: KMHA Inventory Policy for Consumable items, Administrative Policies, GENERAL POLICIES, KMHA Manual of Operations (Kitchener Minor Hockey)

PrintA-20: KMHA Inventory Policy for Consumable items
KMHA: Policy #A20

Title: KMHA Inventory Policy for Consumable items

Rational: To Keep track of all purchased items that will be used for KMHA fundraising, Giveaways, or Good will. By tracking all items we will be better able to control expenditures as well as control losses due to theft.

Policy Statement: All consumable items purchased by the KMHA to be used as giveaways or in silent auction/fundraising endeavors must be tracked to assist in controlling of expenses and loss of inventory.  All individuals purchasing such items must complete an inventory form and submit it to the KMHA bookkeeper. Upon use/donation of the item the individual responsible will return to the KMHA bookkeeper to complete the form outlining what it was used for and any return on investment if sold.  KMHA bookkeeper will track all forms and keep the master inventory list. Any item missing will be considered stolen and reported as required by the board of directors. Any items lost must be identified as such on the inventory form; replacement responsibility will be determined by the board of directors. Inventory forms should consist of the Items name, a description of what it is, the quantity there are, the price paid, and the approximate retail value.

Individuals not following this policy and completing the form will lose their purchasing powers for a length of time as determined by the board of directors. This discipline could include permit loss of purchasing powers. 
Form attached as Appendix: A

See flow chart

Item is purchased
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Purchase price on receipt(s) (As well as affiliated expenses “travel”) are used to determine initial value of the item.  Value is to be recorded on an Inventory form.
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Form is submitted to KMHA Bookkeeper 
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Bookkeeper logs all inventory items submitted.
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Any person using a logged item must also complete the remainder of the inventory form associated with the item and log it with the Bookkeeper. 
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The bookkeeper will record the entry by updating the master and creating year end reports to track for all items.