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Service Agreement Information Kit for Funded Organisations

3.7.1 Definition of an asset under the Service Agreement

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Assets are defined under the Service Agreement as non-consumable items of tangible property (including fixtures) that have a service life greater than one year that are purchased, created or otherwise brought into existence (whether in whole or in part) with the use of funding under the Service Agreement. Assets can include:

  • non-medical equipment
  • equipment or aids to support clients
  • electronic equipment (such as computers)
  • furniture
  • motor vehicles.

For the purpose of the Service Agreement, the asset clauses and processes described in clause 4.6 and clause 7 (as discussed further below) only apply where the department has specifically allocated funding for an asset or assets under the Service Agreement. For example, the department may provide an organisation with specific funding to purchase a vehicle that is equipped for people with a disability.

The vast majority of funding provided by the department is for the provision of services to individuals and the community. When delivering services, organisations often make use of a range of assets. Some of the funding provided for service delivery may have been used to purchase these assets, but for the purpose of the Service Agreement these types of assets do not need to be dealt with as described in clause 4.6 and clause 7 unless funding was specifically allocated for them under the Service Agreement.

When funding the development of a building or other facility, the department and organisation will normally enter into a separate agreement containing terms more appropriate for that kind of arrangement. The terms and conditions of that agreement will detail how those assets are managed.