Fixed Assets

Welcome to Asset Management!

Anything purchased with or reimbursed from University funds is the property of the University of Lethbridge, including all capital, carryover, donated, operating, overhead, professional supplement and research grant or other trust funds administered by the University, unless otherwise stated in the terms and conditions of the trust agreement.

Department responsibilities:

Deans, Executive Directors, Department Heads or their designates are responsible for the care, custody and control of all departmental assets, as well as those on loan to us. Having this responsibility means the department must:

- Safeguard their capital assets - ensure they are in good working order, repaired, maintained, used appropriately for University business, are identifiable and can be located.

- Periodic verification of their assets, comparison to the system data and provide updated information to Financial Services as required.

- Ensure the centralized property control system has accurate and complete information about their assets.

- Not allow assets to be transferred off campus without proper documentation and approval.

- Not allow assets to be donated, given, sold or disposed of without proper documentation and approval.

Financial Services responsibilities:

Financial Services is responsible for setting up the financial control framework for the institution, financial reporting of assets, updating system records, inquiring and evaluating the existence and accuracy of the asset listings and centralized property control system (Banner Fixed Assets) setup. Our asset management staff have the following roles:

- Capital accounting and analysis - tracking and reporting financial information related to all University capital projects such as construction, renovation and infrastructure maintenance projects; general and ad hoc reporting, analysis of capital accounts, reconciliations, amortization, and external reporting. Contact: Craig Churchward

- Capital accounting and analysis - tracking and reporting financial information related to the Destination Project.  Contact: Craig Churchward.

- Non-capital Equipment and Furnishing accounting - tracking and maintaining the accounting records for equipment and furnishings, barcoding, account analysis, reconciliations, centralized system updating, system data verification. Contact: Dale Jeremias.

How can we help you:

- Provide you asset listings for your department.

- Assist you with evaluating or implementing asset management procedures in your area

- Update the details of your asset listing as requested.

- Verify account coding through approvals and account review processes

- Provide ad hoc reporting and analysis