ASSET REGISTER - revised circular

DEPARTMENT OF POSTS, INDIA

O/o the Superintendent of Post Offices, Namakkal Division, Namakkal – 637 002

Phone No:04286 – 220 953, 230 192. E-mail id – spo_namakkal@rediffmail.com

No       :  J/Asset/10-11

Date    :  17.08.2011

To,

1. The Postmaster,

Namakkal – 637 001 /

Tiruchengodu – 637 211

2.  All the SPMs in Namakkal Division

Sub      :           Compilation of Fixed Asset Register – wanting of details - reg

Ref      :           This office letter of even No. dated 25.07.11

            Kindly refer to the letter cited above. A list of all type of moveable asset have been called for compilation vide this office lr.No.cited under reference. But the same is yet to be received from most of the offices. This process is closely monitored at the Directorate level and the work should be completed shortly. It is instructed by the Directorate that all the furniture, fixtures, electrical & electronic equipment, machineries and etc., is to be added without leaving even a single item upto the Branch office level.

            It is seen that many of the SPM has failed to include all the moveable asset of their office and the asset of the branch offices under their control. In other wards the stock of all furniture, equipment of all the offices should be noted irrespective of its value.

Guidelines for compilation of Fixed Assets Register (F.A.R.)

1. All existing assets are to be taken into account without reference to any limitation on cost.

2. Minimum cost ceiling of Rs. 5000/- is applicable only for assets to be acquired in future cases and not for the assets in use already.

3. All assets – (i) Put use of the Dept. (ii) If Dept. can be benifited by its existence, (iii) If it’s cost can be measured reliably, are to be recognized and included in FAR.

4. Assets are to be valued at Fair Market Value,

·         If it has not outlived its useful life.

·         If it does not appear to have outlived its useful life.

5. Assets are to be valued at Re. 1/-

·         if it was received as gift,

·         if it has outlived its useful life,

·         if it appears to have outlived its useful life,

·         if it has not outlived its useful life but the fair market value is not available.

6. Assets physically available in the office are to be included in F.A.R and even if records/registers are not traceable.

7. Sub Office is the lowest unit identified for compilation of F.A.R.

8. Assets of BO have to be included in its Accounts Office. (S.O)

9. Assets of BO and SO have to be verified by the Sub Divisional Head and certified by the Head of Division.

10. Assets of HO is to be verified by Head of the Office and certified by the Head of  Division.

Hence all the PMs / SPMs are requested to take utmost care to prepare the list incorporating all the asset item of their office and BOs under their control and forward it to this office within two days for further process like verification and data entry without inviting further reminders.

MATTER MOST URGENT

Superintendent of PO’s

Namakkal Division,

Namakkal – 637 002

Copy to:

All the Sub Divisional heads in Namakkal Division for information and necessary action.

Superintendent of PO’s

Namakkal Division,

Namakkal – 637 002