How Can an Asset Management Program Help You Manage Your School District’s Budget?

How Can an Asset Management Program Help You Manage Your School District’s Budget?

School districts have a set amount of assets and an increasing number of students that have to use these assets. Every year, administrators have to determine what kind of budget each school within their district has to play with for the coming school year, and part of those calculations includes having an accurate inventory of their existing assets. If the inventories are inaccurate in either direction, the upcoming budget can be completely thrown off and cost up to millions of dollars. 

While human error remains a startling realistic possibility in determining future budgetary needs, school districts can take preventative measures to ensure the most accurate count possible. An enterprising school district can utilize a comprehensive asset management system to help ensure an accurate inventory and a budget moving forward. 

The Importance of Accurate Inventory for the Budget

Whenever you give school assets to the student body, the chances of getting everything back in one piece are often slim. Students have busy lives, misplace things, and can forget to hand things back in at the end of the year. Keeping track of what went out to the students and what got returned helps give an accurate picture of what a school district has to work with. 

Utilizing an IT asset tracking system can help streamline taking the inventory at the end of the school year. Affixing barcodes onto the assets at the start of the year and scanning them when you get them back gives a district a clear way of tracking their assets. Instead of tracking them by hand and being subject to human error, scanning the barcodes on the back of your assets can give you a more accurate inventory of what you have. 

Budgets for the next school year are often based on what you have in stock already and having enough in the budget to cover new expenses and provide enough for the incoming students. An IT asset management tracking system helps give administrators the tools to keep track of their equipment and, in some cases, which students had the assets in their possession. 

Making Up for Budget Shortfalls

One of the biggest obstacles for school districts across the country is getting adequate funding to better serve the students under their care. With most school districts experiencing budgets rivaling pre-recession lows in recent years, finding creative ways to counteract these shortfalls and provide their faculty and students with the tools they need remains a challenge. 

Accurate asset tracking software allows administrations to form and follow a strict asset management plan and make every dollar count. The barcode scanning system allows for efficient tracking of their current fixed assets and offers cost-effective means of tracking everything with an asset tag in the schools. 

Tracking the High Ticket Items

When you’re looking to manage inventory, you want to ensure you can account for the biggest ticket items that can throw your budgets completely out of whack if they aren’t tracked properly. With laptops, tablets, and other technology distributed among the faculty and the student body, having a reliable asset management solution — like Asset Vue’s Real-Time IT Asset Inventory Management System — can make a significant difference at the end of the year. 

With Asset Vue’s IT, hardware, and physical asset management system in place, we give our clients a comprehensive tracking system to keep tabs on who last checked out a particular piece of equipment. With a barcode scanner system in place, each asset has the code on its back and gets scanned each time it gets taken out. We aim to make inventory management less of a time and money fiasco and more of an integral tool in getting the most out of your assets. 

Contact Asset Vue for a Consultation!

Taking the steps to better track your school district’s assets throughout the year will help make determining your next year’s budget a breeze. We can help your administrative team determine which strategy works best for your assets, needs, and budget. We work with our clients to make the deployment process as streamlined as possible and provide the customer service you need to feel confident every step of the way. Contact us to learn more today!