Equipment and Furnishings Asset Management Policy

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[Overview]

[Purpose]

[POLICY]

[DEFINITIONS]

[RELATED LINKS]

This document is the parent policy for any assoc
iated procedures or appendices. Questions regarding
this policy should be addressed to the Office of Administrative Responsibility.

Equipment and
Furnishings

Asset Management Policy

Office of Accountability:

Vice
-
President (Finance and Administration)

O
ffices of Administrative Responsibility:

Supply Management Services and Facilities and
Operations (Engineering and Infrastructure
)

Approver:

Vice
-
President (Finance and Administration)

Scope:

Compliance with University policy extends to all members
of th
e University community
.

Overview

Equipment
and

f
urnishings

assets
purchased from
University
funds

(includes both unrestricted funds
e.g. operating, and restricted funds e.g. research) are the property of the University unless otherwise
stated by sponsor a
nd donor terms and conditions. The University is responsible for the stewardship of
these assets

whether located on
University premises

or at
non
-
University premises
.

The Office of Administrative Responsibility is responsible for the overall coordination
of policies,
procedures, processes, and guidance to assist in the
effective and efficient stewardship of assets
.

Deans, Chairs and Directors are responsible for acquisition planning, procurement and ongoing effective
and efficient stewardship of assets, in
cluding safeguarding, utiliz
ation, maintenance and disposal.

For
other asset management policies please refer to:



Facilities and Operations Management Policy



Museums and Collections Policy



Real Property Compliance Policy

Purpose

To ensure the University f
osters the appropriate asset management environment with respect to:



complying with applicable legislation, University of Alberta policies and procedures, sponsor

and
donor terms and conditions



maintaining appropriate systems and internal controls
, includi
ng safeguarding



strategic planning for asset requirements
,

maintenance and replacement



effective and efficient

asset
utilization
, including timely disposal

POLICY

1.

T
he University will
effectively
manage
and safeguard assets as
follow
s
:

a.

A
ssets can only be us
ed for University

business
purposes
, except in specific situations e.g.
Professional Expense Reimbursement Program

(PER) where Canada Revenue Agency (CRA)
will allow up to 10% personal use. Refer to the
Professional Expense Reimbursement Pro
gram.


b.

Units m
ust safeguard all University assets from theft, misuse, waste, abuse and loss.

c.

Units will ensure the
effective and efficient stewardship

of University assets.

d.

Units
will

tag and track equipment assets that
are
moveable

and with an acquisition value of

$5,0
00 or greater
. This includes equipment acquired through purchase, donation or transfer and
fabricated equipment

where the aggregate cost of components is $5,000 or greater. Units will
also define, tag and track
desirable
equipment assets with an acquisiti
on value of less than
$5,000.


Units may choose to track
any other items
.

Units are not required to track furniture.

e.

Units are required to maintain
the

equipment asset register

and perform an annual
confirming

of their tagged
equipment
assets.

f.

The accept
ance and/or
d
isposal of
University assets
must co
mply with University procedures.

g.

Direct sales to staff are allowed in specific situations. Refer to
Direct Sale
s

to Staff Procedure

-

Computers
,
Other
Data Storage Devices
,
and Items Acquired through Profess
ional Expense
Reimbursement Program.


DEFINITIONS

Any definitions listed in the following table apply to this document only with no implied or intended
institution
-
wide use.

[▲Top]

Equipment Assets

Items acquired by the University
such as scientific lab, information
technology (IT) and other equipment, and vehicles. This includes items
acquired through the Professional Expense Reimbursement program.
This excludes Museum and Collections assets.

Furnishings Assets

Items acquired by

the University such as workstations, file cabinets,
bookcases, classroom tables/podiums, soft seating (lounge seating),
and lounge tables.

University Premises

University premises include University land and buildings. This
includes, but is not limited to
, any of the University campuses, farm
lands and research sites.

Non
-
University Premises

Non
-
University premises represent any location outside of the
University premises in which University
-
owned equipment is found.
This can include, but is not limited t
o, private residences, conference
sites, non
-
University research sites, University Hospital (Alberta Health
Services) and leased properties.

Effective and Efficient
Stewardship of Assets

Units are entrusted to ensure:



Appropriate and timely planning occu
rs at the acquisition,
disposal and replacement stages.



Equipment is used effectively and for University purposes.



Appropriate and timely maintenance is performed
.

Equipment Asset Register

Detailed records of equipment assets, used to facilitate physical
control
and security, and to provide information for disposal, replacement and
insurance purposes. Units are not required to track furnishings.

Moveable Equipment

Moveable equipment assets are assets that are either not affixed to a
building, or are fixe
d to a building but not permanently affixed in that
the asset can be removed without costly or extensive alterations or
repairs to the building, and the asset can be used after removal.

Fabricated Equipment

Fabricated equipment assets are created by assem
bling a number of
components (manufactured or custom made) to produce a specialized
piece of equipment that meets unique research specifications.

Desirable Equipment

Non
-
capital equipment assets that are at a higher risk of loss, sensitive
nature (e.g. IT

equipment containing personal information), or where
there are internal control concerns (e.g. leased equipment, shared
locations with other institutions/agencies, student labs, off
-
site/research
locations, firearms, or required by a granting agency.

Da
ta Storage Device

A device for recording/storage and/or processing of information.

RELATED LINKS

Should a link fail, please contact
uappol@ualberta.ca
.

[▲Top]

Direct Sales to Staff Procedure
-

Computers, Other Data Storage Devices,

and Items Acquired through
Professional Expense Reimbursement Program

(Pending)

Facilities and Operations Management Policy


Furnishings Guidelines and Informatio
n


Museums and Collections Policy

Professional Expense Reimbursement Program

Real Property Compliance Policy