74 Virtual Brochure – March 2025 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 The Director of Estates & Facilities is responsible for keeping suitable records of plant which are subject to inspection by cover providers, and for ensuring that inspection is carried out in the periods prescribed. Financial Plan Owners are responsible for establishing adequate arrangements for the custody and control of all other assets owned by the University. For further context relating to assets and liabilities (including links to related policy and process) there is a Handbook on Financial Responsibility. Day-to-day upkeep of records of plant and facilitation of inspections are undertaken by the Estates and Facilities Directorate. The Asset Capitalisation Policy provides detail on the agreed useful life of various forms of asset, and the treatment of grants or donations received with the intention of funding of a capital asset. Institution 3 £188,918 £25K and above £500 Mostly spreadsheets. Deans and Directors are responsible for maintaining a local asset register, in a form prescribed by the Director of Finance, for all plant, equipment, furniture and stores in their departments with a value in excess of £500. The Director of Finance maintains the University’s register of land, buildings, fixed plant and machinery. Deans and Directors will provide the Director of Finance with any information they may need to maintain the register. The inventory must include items donated or held on trust.
RkJQdWJsaXNoZXIy NTI5NzM=