Sample Fixed Asset Register

Templates

Sample Fixed Asset Register – Excel
Sample Fixed Asset Register – Word

Irish 
Clár Sócmhainní Samplach – Excel
Clár Sócmhainní Samplach – Word

1. Introduction

School assets are crucial to the efficient running of the school in terms of education and administration. The recording of assets in a fixed asset register facilitates the monitoring of those assets and is, therefore, a vital control in safeguarding school assets. All schools should maintain an asset register. This should contain details of significant equipment and capital items held by the school.

2. Aims and Objectives

The maintenance of a fixed asset register provides the school with a record of the assets held by it. This will assist with the physical control and security of these assets, provide information for insurance purposes and help the school to plan for the replacement of these assets.

3. Creation of a Fixed Asset Register

The creation of a fixed asset register requires planning to ensure all school assets are accounted for and to avoid duplication.

• Choose a specific date to carry out a stock count of all school assets
• Set a minimum value for items to be recorded on the register. Assets should be categorised under the following headings:
• Fixtures, Fittings & Equipment e.g. photocopiers, lawnmowers,
• ICT Equipment e.g. laptops, iPad, whiteboards, a/v equipment both for educational and administrative purposes
• Other e.g. sports equipment etc

Sub-headings can then be created under each of the main headings. A sample fixed asset register can be found on the FSSU website:  Sample Fixed Asset Register – FSSU

4. Maintaining the Register

The Fixed Asset Register should always be kept up to date. Assets purchased during the year must be added to the register when they have been invoiced to the school. For additional security and to help identify items, all assets should be bar-coded. This information should also be listed on the register.

The register should be inspected for completeness regularly. A physical count of the school’s assets should be carried out once a year by someone other than the person maintaining the register. This should be compared with the register and any discrepancies should be investigated immediately.

5. Advantages of Maintaining a Register

• Assists schools in the effective and efficient use of all school assets.
• An effective procedure for ensuring that staff take responsibility for the safe keeping of school assets.
• Allows Board of Management to undertake independent checks on the safe custody of assets, as a deterrent against theft or misuse of those assets.
• Helps the external accountant / auditor draw conclusions in relation to annual fixed asset additions and disposals when preparing school accounts.
• Supports insurance claims in the event of a fire, theft or other damage of assets.

NOTE: The FSSU have developed these templates for internal use for monitoring monthly income, expenditure, budget management, cash flow etc. The use of the FSSU internal templates is optional for schools who may wish to continue to use the IPPN Airgead Bunscoile/Financial Template, CPSMA Accounts templates etc. for their internal use.