Asset lists are important to groups for their referencing purposes. if something goes missing, whether it is big or small, an up-to-date asset list should state where it was last kept. This allows all committee members to be able to track down missing items and be able to manage the group's assets with more ease.
Every Group must let us know if they have assets or if they haven't, you can do this by completing the Asset List Form. After completing this form it will let you know your next steps.
Keeping Items Recorded
Any items which are purchased by a student group can be insured under UPSU's insurance policy. The excess for claims is £100 so individual items with a value of over £100 must be listed on your group's asset register. For best practice, any items under £100 should also be listed in order for you to have an accurate asset list. This will also protect you should all of your assets be stolen or damaged simultaneously. For example, if they are stored within the Union building and there is a fire, then the listed items will be covered by your asset list.
The asset register must be updated each time you make a purchase and should also be checked annually by your group's committee. This needs to be done at least once a year in March though remember that it is best practice to list any and every object you purchase for the group as and when they are delivered. You will always receive an email from firstname.lastname@example.org once an item you've requested your coordinator to order for you has arrived at our office. This is when you should update your asset list. You cannot collect your item if you have not yet done so and you may be turned away if you come to collect without its addition.
Do note that purchasing group items yourself (if your finances permit it) and claiming the money back from the Union is a much quicker process than requesting your coordinator make the purchase for you. If you choose to order items yourself to later be reimbursed you must make sure to do the following things; firstly make sure that the items you wish to buy have previously been authorised by your coordinator, secondly that once they are delivered to your own address you add them to your asset list and store them safely with your other group items immediately.
Do also note any parcels or letters not collected from the office in a timely matter, may be sent back to the supplier.