It is the policy of the Special Libraries Association that all property of the Association Units be administered by the Association Headquarters.

The purpose of this policy is to ensure that all property of the Association Units (valued in excess of $5,000) be made accountable by Association Headquarters.

1. Units should be aware of the Association's "Extra Association Relations Policy" which contains this statement: "An agreement, contract, or obligation entered into by an Association Unit which involves liability in excess of $5,000 must be reviewed and signed by the Executive Director; any which exceeds the Unit's available or budgeted funds requires advance approval by the Association's Board of Directors."
   
   

2. These guidelines apply to property (such as office machines, filing cabinets, computer equipment, etc.) Having a purchase value exceeding the Unit's available or budgeted funds or exceeding $5,000.00.
   
   

3. The Senior Assistant Executive Director for Finance and Administration at SLA Headquarters should be informed of the purchase value, the name of the individual responsible for the property, and the address of its location immediately upon receipt of the property. The property should be clearly marked "Property of the Special Libraries Association, 331 South Patrick Street, Alexandria, VA  22314-3501.
   
   

4. Appended to the annual financial report of the unit should be a property report listing the date of acquisition, the purchase value and the name of the person responsible for the property and address and location of the property.
   
   

5. The proper care and maintenance of the property is the responsibility of the Unit.
   
   

6. When the Unit disposes of the property, SLA Headquarters must be informed immediately and any outstanding debt on the property must be discharged by the Unit.
   
   
7. All Association property will be insured, at the discretion of the Executive Director, by the addition of riders to the Association's insurance policy. To meet the requirements of the insurance company, it is mandatory that the permanent location and the responsible custodian be identified. Units will be billed at cost by Headquarters for such insurance.
   
   
   IV. Responsibility

   The Executive Director is responsible for monitoring the compliance with this policy.

   Approved: 1984
   Format Approved: October 1989
   Financial Liability increased from $2000 to $5000 1/96.