Assets
28.1 Overview
An aspect of the use of resources is to ensure that the cost of assets should not outweigh their benefits. Obsolete, non-repairable or unnecessary resources should be disposed of. Where appropriate assets should be subject to the Asset Management process to identify surplus assets.
Schools also need to take account of the guidance contained within the School’s Financial Regulations.
28.2 Responsibility/Accountability
28.2.1 Cabinet (click here for all responsibilities for the Cabinet)
Agree the form and method for disposal of assets and, if appropriate, obtain outline planning consent for its most beneficial use.
Approve disposal by any form other than auction or public tender.
28.2.2 Section 151 Officer (click here for all responsibilities for the Section 151 Officer)
Preparing the Asset Disposal Procedures.
Advising on best practice for the disposal of assets and on the appropriate accounting entries.
28.2.3 Business Unit Heads (click here for all responsibilities for Business Unit Heads)
Provide the Chief Executive with a report detailing the legal, financial and other implications of a disposal resulting from a development brief. Negotiations will not be conducted until Cabinet approval has been received.
Ensuring that Asset Disposal Procedures are followed, income is received, and appropriate accounting entries are made.
Ensure that Asset Management Group are involved at all stages of a disposal and that any direction is followed.
28.3 Policy (Click here for detailed procedures)
Surplus assets should be identified at the earliest opportunity and disposed of for best consideration.
| 
