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Policy: Assets


To inform staff of the requirements for accounting for assets


This policy provides the principles for accounting for assets.


This Policy applies across the University.

Policy Statement

  1. Assets are future economic benefits controlled by the University as a result of past transactions or other past events.
  2. Responsibility for the use, maintenance and custody of University Assets resides with the Heads of Budget Units. To assist in the discharge of this responsibility, reliable management information regarding the assets in use by their Budget Unit is required.
  3. Only an authorized delegate may approve the valuation, write off or disposal of assets.
  4. Assets shall be acquired, managed, valued and disposed of in accordance with legislative and other governing requirements/standards, and with reference to the University’s Assets Procedure. This shall be the case irrespective of the source of funding for an asset.


Printable version (PDF)
Title Assets
Document Type Policy
Document Number ANUP_000376
Version 6
Purpose To inform staff of the requirements for accounting for assets
Audience Staff
Category Administrative
Topic/ SubTopic Finance - Assets
Effective Date 3 Mar 2011
Review Date 3 Mar 2014
Responsible Officer: Chief Financial Officer
Approved By: Vice-Chancellor
Contact Area Finance and Business Services
Authority: Public Governance, Performance and Accountability Act 2013
Australian National University Act 1991
On 9 April 2021, the ANU Council assigned authority to approve academic policy to the Academic Board.