School Policy & Advisory Guide
Asset Recording and Control
Purpose of this policy
To ensure records are kept to help minimise losses of equipment and furniture.
Schools must comply with the Department policy outlining the asset recording and control policies including:
- using the CASES21 Asset Management System to record assets with a value of $5,000 and over.
- adding new assets to the Asset Register within 30 days
- keeping a detailed register of attractive items with a value less than $5,000 and may use CASES21 Finance Asset Management System to do this
- ensuring stocktake and sighting of all assets once every two years
- reporting all discrepancies discovered during stocktake to the principal
- ensuring careful record keeping of all loaned assets
- constituting a board of survey to:
- identify obsolete or unserviceable assets
- recommend a course of action for the disposal of assets.
- report the receipt of donated equipment or material at the next school council meeting
- ensure the donation is minuted.
Books and initial fit-out
Some assets can be recorded as an aggregated asset such as:
- books that are stored as either class sets or as a library are subject to different rules. Library assets have a threshold of $10,000 and are an aggregated asset.
- the furniture and fittings of an initial fit out may be aggregated into a room lot.
- Financial Management Act 1994