All state schools
Outlines the requirements for acquiring, managing, and disposing of equipment held by schools.
The department’s equipment management system includes:
Schools record portable and attractive items (valued at $500 to $4,999) which are susceptible to theft and loss because of their size and appeal (see Definitions), and capital assets (valued at $5,000 and over) on the OneSchool asset register. Capital assets are also recorded on the central SAP Asset Register. Information is kept about asset acquisition, transfer, loan of equipment and disposal.
An equipment replacement plan is prepared by schools to facilitate periodic replacement of equipment. The plan:
Equipment is disposed of by:
Equipment management also involves dealing with fraud, private and or unofficial use of departmental equipment, conflicts of interest and misuse of resources.
Stocktakes are undertaken annually to help to identify assets that need replacing, are missing, or are obsolete.
Term
Definition
Acquisition Cost
Usually the cost of a piece of equipment plus freight and installation. In the case of donated items, a fair value should be estimated, taking into account age, condition and value of similar items.
Asset Number
A unique numerical identifier which is allocated to all capital asset equipment and portable and attractive items.
Capital assets
Any non-consumable item that has the capability of yielding a service benefit to the department for more than one year, has an acquisition cost of $5,000 or more, and is recorded in the department’s central register.
Depreciation
The cost of an asset allocated over the asset’s useful life.
Disposal
The physical removal of the asset from the premises.
Equipment
Any non-consumable physical item that has the capability of yielding a service benefit to the department for more than one year (that may include capital assets and portable and attractive items) and is not land, buildings or infrastructure.
Equipment register
The School Financial System (OneSchool) Asset Register used by schools.
Fraud
The use of deceit to obtain an advantage or avoid an obligation. Further, fraud is criminal deception, and/or the use of false representation to gain an unjust advantage.
Gifts and donations
Any gift of property and in relation to equipment is referred to as a ‘reportable gift’. The term includes valuable items of property whether personal or otherwise (e.g. ornate or precision display items such as clocks, furniture, figurines, works of art and other items of enduring value including jewellery and personal items containing precious metals or stone or fine art work).
Portable and attractive items
Non-consumable items valued between $500 and $4,999 (GST exclusive) that are susceptible to theft or loss due to their portable nature and attractiveness for personal use or resale. Examples include computers and mobile phones.
An item is considered portable if it can be easily carried or moved (e.g. an item would be considered portable if it could easily fit in a backpack: it would not be considered portable if it required more than one person to carry it).
SAP Asset Register
A component of the department’s financial and accounting software. This register holds records of all capital assets in schools and accountable equipment in business units.
Stocktake
The physical counting of equipment and reconciliation of the count with the equipment register.
Write off
Recording and approving the loss of an asset because it is missing or has been stolen etc.
Written down value
The acquisition cost less accumulated depreciation or expired life (months)/total life (months) x cost.
For example a computer costing $5,000 has a life of 5 years (60 months) and the written down value after 4 years (48 months) is calculated thus: 48 months/60 months x $5,000 = $4,000, therefore written down value is $5,000 ‑ $4,000 = $1,000.
Previous seven years shown. Minor version updates not included.
Nil
For further information, please contact Finance Branch through the Services Catalogue Online (DoE employees only). Customers and users external to the department should email assetaccounting.finance@qed.qld.gov.au. All incidences of fraud or misuse of resources must be reported in the first instance to Director, Integrity and Employee Relations Unit. This position is also the Crime and Corruption Commission (CCC) Liaison Officer. Director, Integrity and Employee Relations UnitTelephone: 07 3055 2955Email: ethicalstandards@qed.qld.gov.au
Uncontrolled copy. Refer to the Department of Education Policy and Procedure Register to ensure you have the most current version of this document.
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