73 Virtual Brochure – March 2025 Benchmarking The following table provides a comparison of a sample of ten HE institutions, in part based on our experience of other institutions and additional Internet research. We do not have access to the details of controls within individual tracking systems, although the final column of our table provides high level information on general asset management responsibilities and controls. Institution by its turnover (000) Capitalisation Threshold Lower limit for tracking of assets (fixed or non-fixed) System for Fixed Assets Local Asset Registers Responsibilities/Controls Institution 1 £1,344,665 £100,000 and above £10000 to capital threshold (according to Financial Regs) The Finance Directorate maintains a central register of all capital assets across the University. This provides a description of each asset, together with a note of its location. Copies of the register are circulated to faculties and schools each month. Oracle 12.2 upgrade will have a new fixed assets module, and this will be used to record assets over £100k. It will not capture assets below threshold. Mixed systems/formats in use including Excel spreadsheets, Myturn and Labcup. Financial Regs state that schools must maintain registers of assets that do not qualify for the central register. These are required for purposes such as security, insurance and electrical testing. Heads of schools are responsible for the maintenance of records of all assets and equipment that has been obtained by their school. All assets held in schools worth between £10,000 and £50,000 must be recorded on a suitable register which is updated regularly. These include (but are not limited to) computers, scientific equipment, plant, furniture and stores. Details noted must include a brief description, location, date of purchase, original cost and, where applicable, the serial number. It may also be helpful to record the funding source. Institution 2 £484,223 £10K and above Not defined. Plans to implement Oracle Fusion platform. Previously, registers were on spreadsheets. Up to Financial Plan Owners to develop arrangements for controlling their assets. The CFO maintains a fixed assets register in accordance with the capitalisation policy.
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