78 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 tool. No de minimis threshold. Heads of departments should establish adequate arrangements for the custody and control of their assets and should undertake regular inspections and checks. Before disposing of an asset, departments/units should ascertain whether the University owns the asset or whether there is any restriction on its disposal. Items are disposed of when they are: • No longer required. • Surplus to immediately foreseeable needs. • Part of an asset replacement programme. • Unserviceable or beyond economical repair. • Not compliant with occupational health and safety standards. • Beyond repair but able to be sold for scrap. An online Asset Disposal and Recycling form must be completed by a member of staff in the department wanting to dispose of the asset. Where assets have an asset value of £5,000 or greater, asset tag number and serial number should be recorded on the form. The Head of Department must approve this form, so the disposal request is appropriately authorised.
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