Such a register though, should provide significant benefits to a department in helping it to manage its equipment efficiently.Īn asset register is intended to be a useful tool for a department. This is the prime reason for the requirement detailed below to maintain a departmental asset register. In order to do this, a department needs to record the equipment purchased, keep track of its location and, when the time comes, properly authorise its disposal. The individual value of that equipment can vary from less than £100 up to a few hundred thousand pounds.įinancial Regulation F1.2 makes heads of department responsible for the security and custody of these assets.
A department will buy and dispose of equipment as part of its teaching, research or administrative activity.
