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Intent

To set out the requirements regarding the establishment and maintenance of:

• A cash management system; and
• An asset management system.

Scope

Assets and Cash Management

Definitions

Asset

Policy and Procedures

It is the responsibility of the Chief Financial Officer to establish and maintain a cash management system (FMPM 210-239 and 300-309) which efficiently, effectively and economically manages all cash resources.

The cash management system, including adequate internal controls, must provide for promptly:

• Identifying, collecting, paying and investing cash; and

• Recording transactions involving cash.

The policies and procedures established and documented to manage cash assets are contained with the FMPM 210-239 and 300-309.

It is the responsibility of:

• The Chief Financial Officer (FMPM 240-299, excluding 250 and 310-399); and

• The Director, Human Resources (FMPM 250),to establish and maintain an asset management system (FMPM 240-299 and 310-399) which efficiently, effectively and economically manages all asset resources.

The asset management system, including adequate internal controls, must provide for:

• Correctly identifying, acquiring, managing, disposing of, valuing, recording and writing off of assets;

• If the cost of acquiring, maintaining or improving a physical asset is considered significant, conducting an evaluation before making the acquisition or carrying out the maintenance or improvement;

• Reviewing the performance of completed significant assets to ensure the objectives in acquiring, maintaining or improving the assets were met;

• Regularly maintaining the assets; and

• Protecting the assets from loss.

In identifying, acquiring, managing, disposing of, valuing, recording and writing off of assets, the University must comply with the .

In recording land assets, the University must comply with the “Property tenure government land policy”.

The policies and procedures established and documented to manage assets are contained with the FMPM 240-299 and 310-399.

Related documents, legislation or JCU Statutes

“” published by Queensland Treasury

“Property tenure government land policy”- available from PMC Property Management Portal

“” - available from Department of Infrastructure and Planning

“”- available from Department of Infrastructure and Planning

For enquiries in relation to this FMPM Policy please contact directorfabs@jcu.edu.au

Administration

Approval Details

Revision History