- Tracked by the governance plan to ensure at least an annual review of the condition of each asset to offset avoidable costs due to lack of maintenance.
- Records the current location of assets which can moved i.e. benches.
- Records the initial cost and current value of each asset to support the Annual Financial Statement.
- Support of insurance claims in the event of theft or damage.
- Demonstrates due diligence with regard to publicly funded assets.
- Ensure each item is recorded correctly in the insurance policy.