Assets

Asset disposal

Assets of the Charles Darwin University can not be traded in, auctioned, sold, wilfully destroyed or in any other way disposed of without prior consideration of the Board of Survey.

If you have assets, which you would like to dispose of, you can contact the Assets Officer to obtain an Asset Control Advice.

The Asset Officer shall prepare and submit the Asset Control Advice to the Chairman of the Board of Survey.

The form shall give the description, book value and date of purchase of the assets listed. The chairman of the board will complete the Asset Control Advice and submit to Director of Finance for final approval.

Board of Survey meetings are held every third Monday of the month.

Completed Asset Control Advice forms and any accompanying paperwork must be received by the Asset Officer by close of business on the Monday the week before the Board of Survey meeting.

For more information please contact Robyn Woods on 08 8946 6292.

Minor equipment between $0.00 and $999.99

Purchases between $0.00 to $999.99 - 'Minor Equipment' will not be recorded in the assets register.

The purchase details of minor equipment will need to be maintained by the Faculty/Services/Area by the appointed Asset Custodian if considered necessary.

If these goods arrive through Stores, a label will be placed on the item quoting the Purchase Order number.

Attractive items $1,000-$9,999.99

All equipment within the $ value of $1000 to $9999.99 may be recorded as 'attractive items' in the assets register.

This is for prudent asset management and internal control purpose. Such 'attractive items' will be coded to either expense codes '342' to various sub codes depending on the category of expenditure).

The details of the sub codes within these expense codes are listed below.

Expense Code '342' - EQUIPMENT - Note: It is imperative that correct sub codes are used to facilitate cost centre reporting.

- 342-01 - Equipment/other
- 342-02 - Computing
- 342-03 - Furniture & Fittings
- 342-04 - PC Parts/attachments
- 342-05 - Server Parts/attachments
- 342-06 - Communications Parts/attachments
- 342-07 - PC Equipment Free Standing
- 342-08 - Server Equipment Free Standing
- 342-09 - Communication Equipment Free Standing
- 342-10 - Vehicle/Mobile Plant (From $1000 - $9,999)
- 342-11 - Boats (From $1000 - $9,999)
- 342-12 - Photocopiers

Capital $10,000

All requisitions for capital equipment purchases of $10,000 and over - to code against expense code '761'.

Upgrade to capital: Any upgrade to existing capital items (over $10,000) - is to be coded against the expense code '761' - (Replacement of component parts of an asset to regard as recurrent expenditure and not as capital expenditure).

Corporate Mastercard purchases

Individual staff members will be accountable for minor equipment purchases on their Corporate Master Card.

It is suggested that the Corporate Master Card purchase date be written on the item, copies of invoices and goods received notes.

These purchase details have to be kept on file by the Faculties/Services/Area and may be required for warranty/repairs.

Purchases and ownership

A capital/attractive item can only be purchased (requisitioned against) by one cost centre and cannot be split.

If a cost centre wishes to contribute to the purchase of an item, funds may be transferred by a journal transfer, and be processed by Ledgers Section of Finance and Asset Services.

Warranty/repairs

For items not assetised (under $1000.00) Faculties/Services/Area will be responsible for maintaining records of purchases.

If these goods arrive through the stores, a label will be placed on the item quoting Purchase Order number.

Asset register inquiries

Inquiries regarding the University's Asset Register can be directed to the Asset Officer: Robyn Woods on 08 8946 6292.

UNIVERSITY FINANCE