Asset Recording and Control

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Purpose of this policy

To ensure records are kept to help minimise losses of equipment and furniture.


Recording assets

Schools must comply with the Department policy outlining the asset recording and control policies including:

  • using the CASES21 Asset Management System to record assets with a value of $5,000 and over. 
  • adding new assets to the Asset Register within 30 days
  • keeping a detailed register of attractive items with a value less than $5,000 and may use  CASES21 Finance Asset Management System to do this
  • ensuring stocktake and sighting of all assets once every two years
  • reporting all discrepancies discovered during stocktake to the principal
  • ensuring careful record keeping of all loaned assets
  • constituting a board of survey to:
    • identify obsolete or unserviceable assets
    • recommend a course of action for the disposal of assets. 

Some assets can be recorded as an aggregated asset such as the furniture and fittings of an initial fit out may be aggregated into a room lot.

Donated assets

Principals must:

  • report the receipt of donated equipment or material at the next school council meeting
  • ensure the donation is minuted.

Related policies

Related legislation

  • Financial Management Act 1994

Department resources

  • School Financial Guidelines -  
    • Finance Manual for Victorian Government Schools (Section 13 – Asset and Inventory Management) 
    • Asset Management Policy.