School Finance, recording of assets under a certain value

[talksr]

Hi there,

 

I am looking to make sure our asset log records are accurate and up to standard.

Can anyone point me to the government guidance for the threshold in terms of item value to record it's serial number, make, model etc on a central register?

 

I have been including any items over the value of £150.

I have been asset marking any equipment over this value too, unless it is a fixed appliance like the ones our racks.

 

Any help on this would be great.

We are a Greater London school if that helps.

[Cache]

I'm not sure it comes down to government guidance but more the schools/local authorities policies.

 

Our official asset register contains items with a value of more than £100 (relating to IT), my IT asset register contains any and all IT items of reasonable value (basically anything excluding low value accessories) - but I think the £100 figure which was something incorporated into a policy/suggested by the accountants when we bacame an academy. Another school I know has a threshold much higher (want to say £300 for an individual item or a collective purchase of £2000 for IT items but I may be completely wrong).

[FN-GM]

We put pretty much everything on the asset register, IP Phones for example. They are worth under £100 but it makes them easier to track etc.

 

Remember, its not all about the current value, its the cost to replace it in the event it gets stolen or damaged in a flood or fire etc. You usually end up paying more than the value documented.

Edited January 8, 2018 by FN-GM

[MatthewL]

I would tag and record everything except keyboard, mice, speakers them kinds of things. PC base unit, monitors, printers, scanners, cameras, VoIP phones, docking stations, any network and server kit, projectors, any fancy switching kit/media for projectors/boards, boards. Purchase date, warranty terms, costs you bought, where from, even if its internal to IT it helps track things back, especially warranty etc.