Effective management of your assets gives you, your leadership team and governors the maximum level of financial control and oversight.
Having an adequate Asset Management Policy will also help ensure that you are compliant with the relevant statutory requirements, regardless of the status of your school.
What should a robust Asset Management Policy contain?
Here are a quick top ten of questions to consider:
- Who is ultimately responsible?
Assign an asset manager but ensure that others are also fully aware of the policy.
- What do you have?
List everything whether it is owned, leased, borrowed or lent.
- What is it?
Provide sufficient information on assets so that everyone can identify them.
- Where is it?
Is it in a fixed location? Is it mobile? Does it belong to a department or faculty?
- Who has it?
If a member of staff is responsible for the asset then ensure the asset record identifies this.
- How secure is the asset?
Can you identify it? Does it have a unique barcode or label?
- What is it worth?
Do you know the purchase price, supplier and current value?
- What about maintenance and compliance?
Can you quickly determine when checks, appliance testing (PAT), inspections and calibration is required and view historic information?
- Audit and report
Do you have the ability to undertake regular and accurate audits, produce reports and record faults to determine life cycle management?
- Evaluate and evolve
Regularly evaluate your policy and ensure it remains dynamic.
ICT Advice and Support
One Education is able to provide expert advice and a full Compliance and Asset Management Solution.