ASSET MANAGEMENT

PR-3-1

PROCEDURAL DOCUMENT

Effective Date: 10-April-2017


Rationale

        To maintain a costed replacement programme for property (which is recorded on the Asset and Equipment registers) as follows:

-     Short term/regular (within current budget cycle):

-     Long term (up to 10 years ahead).

To annually inform the Board of Trustees of replacement expenditure requirements or at any time where replacement is necessary.

Guidelines

The Asset and Equipment Registers will be referred to when reviewing and planning replacement programmes.

The 10 year property plan will show a year to year expenditure pattern which may be adjusted to suit the availability of funds.  All expenditure needs to be detailed.

The replacement programme should record a life expectancy which is entered in the Asset and Equipment Register at the time of purchase.

The Asset and Equipment Register will be reviewed by the Board prior to budget setting.