Finance Office >> Fixed Assets >> Disposal Treatment

Disposal Treatment

Each Head of Function (including the Estates Manager) is responsible for identifying & highlighting surplus / damaged assets – property, plant & equipment for disposal. Obsolete assets should be written off and physically disposed off on an annual basis.

The principle underlying this process is that it is the Heads of Functions, who initiated or approved the purchases of the fixed assets for their departmental use; consequently they have the primary fiduciary responsibility to manage, control and safeguard such Institute assets. 


Disposal to Staff Members

Disposal to Staff Members
A staff member who has sole use of equipment may wish to purchase it before the end of the asset's useful life in particular Computers, Laptops, Ipads, Printers etc. This has to be in agreement with the finance department as to whether the asset/equipment is avaliable for purchase.