BPI New/Revised Policies – Examples

Maintain records of assets; verify physical inventory against records

1. Objective

• To ensure that the Agency has complete, accurate and up-to-date information on     all accountable movable assets.    
• To create an easy and sure means of identifying and locating accountable items.    
• To keep track of the value of assets.
• To verify the state of the asset (condition, surpluses, allocation, replacement timing), and assess the efficiency of its utilization.

2. Policies

• Automated information systems will be used, where practical, to track inventory, review consumption, and monitor costs, use, loss and equipment performance. the corporate asset management system shall be used to record the addition, transfer, loan, loss, repair or disposal of all accountable and/or attractive assets.
• The Manager is responsible to track assets that are on site or off-site for home use.
• Data from the corporate asset management system will be accessible on-line to all custodians.
• Custodians will issue reports from the corporate asset management system to their respective manager annually or upon request.    
• The Manager, with the assistance of the Custodian, will be responsible for ensuring that all information on the system is current, exact and complete.    
• The Director will be responsible for determining the frequency and scope of physical inspections.
• Intangible assets such as software licensing agreements, once recorded as a purchase, should be identified in a data base but not require tracking.