The school’s fixed assets include:
- Items of furniture such as tables, desks and chairs
- Audio/visual equipment such as televisions, DVD players, CD players and recorders
and overhead projectors
- Computer equipment for both administrative and educational purposes
- Sports equipment
- Equipment for specialist subjects such as Home Economics, Woodwork, Engineering,
Technical Drawing, Art and Sciences
- Office/class equipment including photocopiers and telecommunications equipment
- Books including schoolbooks and library books
- Maintenance and ground equipment such as lawnmowers and garden tools
- Vehicles.
(This is not intended to be an exhaustive list.)
The maintenance of an asset register is an important control to safeguard assets. Typically, the asset register will show the date of acquisition, a brief description, cost and identifying number. Entries are also made for assets being written off or disposed of by the school. Ideally, each asset should be stamped with a unique identifying number.
The board may decide to outsource the fixed asset register to an external company who specialize in this area.
Resources
Sample Fixed Asset Register Template – Word Format
Sample Fixed Asset Register Template – (Excel Format)
Further Guidance on fixed asset register
Guidance on outsourcing the fixed asset register