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Service Agreement Information Kit for Funded Organisations

3.7.2 Keeping an asset register

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Organisations, as a normal part of managing their operations and finances, are likely to keep a register of assets they own.

Where the department has specifically allocated funding through the Service Agreement for the purchase of an asset or assets, details of the asset or assets are to be recorded in an asset register. Where the asset is partly funded by the department, the proportion of the department’s contribution is to be recorded.

Organisations may keep a separate register for the assets specifically funded by the department, or can incorporate this information into the organisation’s overall asset register, provided the assets are clearly recorded as having been funded by the department.

This asset register is to be made available to the department when requested. Where an organisation has incorporated assets specifically funded by the department into their overall asset register, they need only provide a list of department funded assets when requested to do so. The department will undertake a review of a sample of organisation asset registers each year.

The format of the asset register is at the funded organisation's discretion, provided that it meets the organisation's obligations under the Service Agreement. Assets registers normally include the information detailed in the document 'Sample of an asset register' (opens in new window).