Disposal of Assets
REASONS FOR DISPOSAL OF AN ASSET
An asset can be disposed of for various reasons, such as:
- it is faulty and will cost too much to fix as it is outside its warranty
- if it is outdated
- not in efficient working order
METHOD FOR ASSET DISPOSAL
Approval for Asset Disposal and Update of Fixed Asset Register
An asset is only disposed of once a fully completed and authorised “Disposal of Asset" form is returned to the Capital Assets Office by email or through internal post.
A Disposal of Asset form must be completed prior to the disposal of any fixed asset with the signature of the relevant Head of Department. This ensures the Asset Register can be updated and its accuracy maintained.
Physical Disposal of Asset
Once a disposal form is completed, the equipment must be physically disposed of and cannot remain on campus.
Equipment can be physically disposed of in two manners, once the disposal form is authorised:
- it can be placed in the metal cages provided in the goods inwards yard (located by the blue bins)
- it can be disposed of during the bi-annual disposal week long event, usually held during the summer and in January. Staff will be notifiied in advance of dates and location of the room for disposal.
Related Documents
