Responsibilities:

The custodian's primary responsibility is to ensure proper control, tracking, and maintenance of these assets throughout their lifecycle.

• Asset Inventory: Create and maintain a comprehensive inventory of all fixed assets owned by the organization. This includes recording essential details such as asset descriptions, serial numbers, acquisition dates, purchase co costs, and location.
• Asset Tracking: Implement a system to track the movement and status of fixed assets within the organization. This may involve using asset tags, barcodes, or asset tracking software to monitor asset location and ownership changes.
• Asset Verification: Conduct regular physical audits to verify the existence and condition of fixed assets. This helps ensure that the recorded data aligns with the actual assets on hand.
• Acquisitions and Disposals: Assist in the process of acquiring new fixed assets by coordinating with procurement and finance departments. Similarly, manage the disposal or sale of assets that are no longer needed, following the organization's asset disposal policies and applicable regulations.
• Maintenance and Repairs: Oversee the maintenance and repair of fixed assets to ensure they remain in good working condition and retain their value. Schedule preventive maintenance and coordinate repairs with relevant departments or external service providers.
• Acquisitions and Disposals: Assist in the process of acquiring new fixed assets by coordinating with finance departments. Similarly, manage the disposal or sale of assets that are no longer needed following the organization's asset disposal policies and applicable regulations.
• Depreciation and Valuation: Work with the accounting team to calculate depreciation expenses for fixed assets in accordance with accounting principles. Ensure that the fixed asset's values accurately reflect their current worth on the organization's balance sheet.
• Risk Management: Identify potential risks associated with fixed assets, such as theft, damage, or obsolescence. Implement security measures and best practices to mitigate these risks.