16. Control Over Assets
Last updated: Tue, Sep 20th, 2016 1:56:58 pm
16.1 For the propose of this Manual an asset is property acquired by the school which is intended for use on a continuing basis for more than one year e.g. items of furniture, computers, sport and audio/visual equipment, office/class equipment, books.
16.2 The Board must establish and maintain an appropriate system of control over all assets and tangible moveable property owned by the school. Such a system should include procedures for:
authorisation and purchasing.
receiving, checking and recording of assets
assigning and stamping of school name and unique identifying number on each item when received.
assigning responsibility for maintaining assets register and regular physical checks and investigation of differences
safeguarding assets
movement of items
assignment of responsibility for ensuring assets are properly maintained and safe to use
dealing with obsolete or damaged items
a complete check and inventory of all assets to be carried out at least once annually which should be evidenced by appropriate entries in the register and examined and approved by the Board. The report must be available for inspection at audit.
the maintenance of an assets register
16.3 The maintenance of an asset register is an important control to safeguard assets once they arrive in the school. Entries in respect of new items purchased should be made by an authorised person immediately the asset passes into school ownership and a description, the date, cost and unique identifying number recorded. Each asset should be stamped with an identifying number. Entries are also made in respect of assets being written off or being disposed of by the school.