NAG 4: FINANCE AND PROPERTY

TRENTHAM SCHOOL STATEMENT OF INTENT

DISPOSAL OF SURPLUS ASSETS

Reviewed by BOT – August 2021

Ratified by BOT – August 2021

Next Review Date – July 2024

PURPOSES

1. The Board is required to keep an asset register, which lists all assets owned by the school. When assets are surplus to the School’s requirements this disposal policy must be followed.

2. Reasons for declaring any asset surplus include but are not limited to the asset being.

a. Replaced by new equipment.

b. Broken or worn out and not cost-efficiently repairable.

c. Obsolete or no longer required.

GUIDELINES

1. Potentially surplus equipment shall be checked against the asset register.

2. If the potentially surplus item is on the asset register the Board of Trustees must be advised. This advice is to include the type of item and reason for it being surplus.

3. The Board of Trustees may then declare the item surplus and approve sale of that item.

4. If the asset is declared surplus by the Board the item shall be removed from the asset register.

5. The price that the asset is sold for shall always be the best price available for that asset.

6. The proceeds from the sale may be placed into any budget area under the control of the Board at the discretion of the Board.