Asset Protection B 2.8
DIVISION B POLICIES
Section 2 Executive Limitations
2.8 Asset Protection
The head of school shall not allow school assets to be unprotected, inadequately maintained, or unnecessarily risked.
Accordingly, the head of school shall not:
2.8.1 Fail to insure against theft and casualty losses to at least 80% of replacement value, and against liability losses to board members, staff, and the organization itself, in an amount equal to the average for comparable organizations.
2.8.2 Subject the buildings, grounds, or equipment to improper wear and tear or insufficient maintenance.
2.8.3 Negligently, or intentionally, expose the organization, its board, or staff to claims of liability.
2.8.4 Make any purchase:
- 2.8.4.1 Wherein normally prudent protection has not been given against conflict of interest.
- 2.8.4.2 Of over 500,000 yen without a stringent method of assuring the balance of long-term quality and cost.
2.8.5 Fail to protect intellectual property, information, and files from loss or significant damage.
2.8.6 Receive, process, or disburse funds under controls that are insufficient to meet the standards required by law and generally accepted as good business practices. If the auditor’s report objects to what CAJ is doing, the head of school shall inform the board of where CAJ does not meet the auditor’s standards.
2.8.7 Fail to invest available school funds in low risk investment instruments in accordance with Japanese law, US law, and after consultation with the finance committee. (SY 06-07:88, SY 14-15:68)
2.8.8 Endanger the organization’s public image or credibility, particularly in ways that would hinder the accomplishment of its mission.
2.8.9 Fail to establish appropriate campus crisis and security procedures that will reasonably safeguard the health and safety of all. These procedures are to include the necessary practice schedules that foster acceptable levels of familiarity on the part of all participants.
2.8.10 Fail to protect the school’s basic assets, as required by Japanese law.
2.8.11 Fail to protect the school han (name stamp) from being used by persons other than the head of school, business manager, chairman of the board, and board designate. (SY 06-07:23)
2.8.12 Fail to protect the school’s bank accounts.
- 2.8.12.1 Authorized signatories to all bank accounts shall be: head of school, business manager, chairman of the board, and vice chairman of finances.
- 2.8.12.2 Two signatures are required on all payments in excess of one million yen. (SY 06-07:24)
(Page revised 01/15)
