To retire an asset from the UniFi asset register, read section 11.4 of the Property, Plant and Equipment Procedures [9.50.02].

The asset register must be a complete list of all current, usable University assets. If an asset is no longer in the possession of the University, is no longer providing an economic benefit to the University, is damaged beyond repair, or was added in error, it must be removed from the asset register.

It is not possible for finance officers to dispose of an asset in UniFi. The asset disposal form (DOC, 85.5 KB) needs to be completed and sent to Assets (Corporate Finance) who will remove the asset from the asset register.

Examples of removal of assets include but are not limited to:

  • asset has been added in error
  • asset has been damaged beyond repair and is no longer in use
  • asset has been donated to an external body
  • asset has been scrapped
  • asset has been sold to an external body
  • asset has been stolen or knowingly lost (for example, left on a bus)
  • asset has been traded in to an external body.

Contact Assets (Corporate Finance) if you have questions about retiring assets.