Hamilton Junior High School
Asset Management Policy
by the Board of Trustees on 16 December 2013
The Policy was approved and adopted by
the Board at its meeting held on 16 December 2013 and became effective from 1
Board accepts that it has a responsibility to protect the assets of the School.
The Board has agreed on the fundamental principles of this Policy, and has
delegated responsibility for the implementation and monitoring of this Policy
to the Principal.
the formulation and approval of this Policy the Board has had due regard to the
accepted standards of sound asset management and applied these to the School.
The Board wishes to record that it sought the advice of a Chartered Accountant
and consulted with the School’s auditor in their role as agent of the
Controller and Auditor General before approving this Policy.
Board requires the Principal, as the chief executive and the Board’s most
senior employee, to implement and manage this Policy. The Principal may, from
time to time, further delegate some of their responsibilities, and all such
delegations must be attached as appendices to this policy.
Policy must be read in conjunction with other Board Policies, and the
exercising of all authority and responsibilities conferred under this Policy
must be in accordance with the Schedule of Delegations and may not exceed an
individual’s established level of delegated authority.
Acquisition of Assets
Board agrees to review the asset management plan annually and agree a budget
for annual asset acquisitions.
Principal shall have delegated authority to purchase assets within the annual
asset acquisition budget, following good procurement processes, provided that
the value of any individual asset is no more than $10,000.
decision to purchase any asset with a cost of over $10,000 must be made by the
Board, not the principal alone.
Board shall consider the most cost efficient acquisition method for each new
assets acquisition decision i.e. whether to buy or lease, and whether to
acquire by operating or finance lease.
Boards shall follow good procurement processes for the acquisition of assets
over $10,000. This may include placing a notice on the Government Electronic
Tendering System (GETS) for acquiring assets with a combined value over
$100,000; obtaining several quotes to compare value for money; and managing any
potential conflicts of interest appropriately.
Information Technology Assets
information technology assets, such as computers and laptops and associated
software, must be compatible with the standard operating platform used within
Board aims to provide and maintain a suite of IT assets that provides the best
possible learning tools for students, within budget constraints, including a
replacement programme that matches the expected useful life of each asset.
Expected Useful Lives
Board agrees on the expected useful lives of the following types of assets:
Buildings – School 18-40
Building improvements – Crown 10–20
Furniture and equipment 10–15
Information and communication technology 4 years
Motor vehicles 5
Leased assets 4
Library resources 8 years
Maintenance of Assets
principal shall have delegated authority to maintain the school’s assets in
good working order, within the approved budget.
fixed asset register for all assets with a cost of $1,000 or more shall be
recorded in the fixed asset register.
that cost less than $1,000 shall be recorded in a register of valuable assets.
review of assets against the fixed asset and valuable asset registers shall be
undertaken at least once a year.
Disposal of Assets
Principal shall have delegated authority to dispose of any asset that has
reached the end of its useful life (as recorded in the fixed asset or valuable
asset registers), provided the original cost of that asset was less than $10,000.
The principal shall report to the board about reasons for disposal, disposal
process and any net disposal proceeds.
Board shall approve the disposal of any asset that had an original cost of over
$10,000, including the reasons for disposal, disposal process and use of any
the Board approved this Policy it agreed that no variations of this Policy or
amendments to it can be made except with the unanimous approval of the Board.
part of its approval the Board requires the Principal to circulate this policy
to all staff, and for a copy to be included in the School Policy Manual, copies
of which shall be available to all staff. The school policy manual shall also
be made available to students and parents at their request. The Board requires
that the Principal arrange for all new staff to be made familiar with this
Policy and other policies approved by the Board.
behalf of, and with the authority of the Board on _________________