83 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 all other equipment in use within their areas. disposed of or scrapped. If the asset is to be sold, a fair market value must be received and evidence retained to evidence this. The Deputy Director of Finance must be informed of any proposed disposal. Institution 10 £839,419 £25000 and above. Anything below capitalisation threshold. Central fixed asset register which is maintained by the Finance Office within SAP. Estates and some departments use QuEMIS. Tendering for new platform to provide a modern and secure integrated workplace management system (IWMS) to help streamline processes for maintenance operations, asset, space and building information management. Departments maintain their own inventories, with some using QuEMIS and others having their own programmes or Excel spreadsheets. Crimson is used to record assets for insurance purposes. Departments/Centres/Activities must communicate to the central finance office where they become aware of changes in capitalised asset. Any assets owned or leased by the University must not be subject to personal use without prior approval from the Group Finance Director. Permission would only be given in exceptional circumstances. A market rate charge would be levied for such personal use.
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