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The procedure outlines the steps required to ensure that the University can effectively procure, manage, document and control its Fixed Assets.

Responsible Officer: Chief Financial Officer
Implementation Officer: Director, Corporate Finance

First approved by:
Vice-Chancellor on 18 November 2009
with effect from 2 March 2010

Amendments approved by:
Policy Manager on 10 January 2014
(no changes except for reformatting to new Policy
Framework requirements)



Fixed Assets Management Procedure


This procedure was approved by the Vice-Chancellor on 18 November 2009 and incorporates all amendments to 10 January 2014.
This document is pursuant to the Fixed Assets Management Policy.
PURPOSE

The procedure outlines the steps required to ensure that the University can effectively procure, manage, document and control its Fixed Assets.

SCOPE

The procedure applies across the University for how Fixed Assets are procured, managed, controlled and documented.

DEFINITIONS

Fixed Assets: as defined in the Fixed Assets Management Policy.

PROCEDURE
1Heads of organisational areas are responsible for the management of Fixed Assets in their areas, and will:
a)designate a Fixed Assets representative within their area to be responsible for the administration and stocktaking of Fixed Assets
b)ensure that Fixed Assets are acquired in accordance with the Procurement Policy
c)ensure that the disposal, transfer and loan of Fixed Assets is undertaken in accordance with the guidelines on the Financial Services Division (FSD) (Fixed Assets Management) webpage
d)ensure that all Fixed Assets are kept secure and maintained in a serviceable and safe condition and that any loss or theft is reported to the Security Manager, Facilities Services Division (FSD)
e)notify the Team Leader, Fixed Assets, FSD, of the completion of in-house Fixed Assets projects and their costings
f)maintain accurate and up-to-date information about Fixed Assets and report that information to the Team Leader, Fixed Assets, FSD as required.
2Heads of organisational areas will manage the design and construction of in-house Fixed Assets for their area.
3The heads of organisational areas, or their nominees, will report regularly to the Team Leader, Fixed Assets, FSD regarding acquisitions, disposals, losses and valuations for the Fixed Assets in their areas, and all amendments will be recorded in the Fixed Assets Register as appropriate.
4The Financial Services Manager, FSD will arrange and report on the valuation of all land and buildings.
ASSOCIATED INFORMATION

Art Collection and Galleries Policy
Financial Services Division (Fixed Assets Management)
Financial Delegations Policy
Fixed Assets Management Policy
Library Donations Procedure
Library Policy
Procurement Policy



Printed copies of this document may not be current. Please refer to The Guide for the most recent version.
Deakin University 2015