How to manage your fixed assets

Keeping a fixed asset register

Fixed assets are items of value you will use for a long time such as:

  • land
  • buildings
  • machinery
  • vehicles
  • furniture
  • office equipment
  • IT

Keep a 鈥榝ixed asset register鈥� of any fixed assets that cost more than the amount set in your school鈥檚 rules. This will help prevent loss and track their value over time for depreciation, tax and insurance reasons.

To do this you should:

  • record them all, including their location, who is responsible for them and their condition
  • tag them 鈥� many people use tags with serial numbers and barcodes to make inventories easier
  • keep a loan book
  • inspect them all once a year
  • have procedures for moving, transferring and disposing of assets

The Procurement Act 2023

Under the Procurement Act 2023 you will need to understand your obligations with regards to contract management and the publishing of appropriate notices.

The section Get training on the Procurement Act 2023聽聽has information on how to:

  • get free, approved聽DfE聽training on the Procurement Act 2023
  • register on the central digital platform

Find out more from the .