Departmental Administrators are sent a quarterly report from the Fixed Asset Team of all equipment asset transactions showing on Oracle Financials. The Departmental Equipment Listing is a comprehensive list of all equipment and assets with a value of £25,000 or more. Prior to the 1st April 2023 the material limit was lower with a value at £10,000.
Departments should use the Departmental Equipment Listing to verify that the transactions included in the report are genuine additions and not, for example, maintenance contract payments that have been miscoded. For items of equipment that have not been correctly added to the listing, please complete the Departmental Equipment Listing form with the required additions and/or amendments and forward to the Fixed Asset Team.
As an audit control departments are required to confirm that their DEL is correct even if there are no additions and/or amendments required. It is also a requirement for departments that do not hold any equipment assets to confirm that the hold a nil DEL return.
All additions and/or amendments should be notified to the Fixed Asset Team so that the Fixed Asset Register can be amended and the Oracle period in the Fixed Asset module can be closed on time.