The University retains a corporate responsibility for the accurate recording of all financial information regarding its assets.
Each member of staff is responsible for the assets that are delegated to them and their area. This responsibility is not a financial one; however it requires staff members to inform the assets section of any movement or loss of equipment.

Any questions regarding assets can be directed to Sarah Pate (ext.2442), or can be referenced in our Financial Services Practice Manual ( 240Kb)

What is an asset?

University own assets can be physical (eg motor vehicles) or intangible (eg trademarks, computer software)

A purchase within the University will be recognized as an asset if:
- It has a useful life of more than one year
and if it is
- a Work of Art with any value
- a computer (desktop/laptop/server) with any value
- computer related equipment with value > $1,500 (printers/scanners)
- computer software with value > $100,000
- if not one of the listed above, an item that has a cost greater than $5,000 per unit (eg motor vehicles/certain lab equipment) is an asset.

Also please note that assets purchased with research funds remain the property of the University.