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Fixed Asset Management

  1. Number: FIN/SLS/008
  2. Title: Fixed Asset Management
  3. Version: 3.0
  4. Effective date: 1 August 2012
  5. Duration: This specification will run from the date set out above until amended by the Director of Finance and Corporate Services or nominated alternate.
  6. Review: This specification will be reviewed annually.
  7. Service level specification
    i.     Finance will maintain, and update as required, a fixed Asset register for the University and for the University's wholly owned subsidiary companies.
    ii. Finance will also maintain and update as required Capital Grants associated with particular University Fixed Assets. Finance will also review and update as necessary any Exchequer Interests associated with particular assets in the University as a whole.
    iii. Finance will undertake all necessary Fixed Asset accounting, depreciation, impairment reviews, re-valuations and so on, as required by the accounting standards.
    iv. Finance will operate, on behalf of the University, an inventory registry and management system for Schools and Directorates for use to record all items of an attractive and portable nature valued in excess of £500, in accordance with the University's Financial Regulations.