University of Saskatchewan

Policies

Write-Off of Valueless Assets

Operations and General Administration

Responsibility: Associate Vice-President, Financial Services
Authorization: Board of Governors
Approval Date: Nov 30, 1979
Reformatted: Mar 30, 2001

Purpose

To establish the authority for writing off obsolete inventories, fixed assets, uncollectable accounts, and cash shortages.

Policy

The Director, Financial Reporting, Financial Services Division is authorized to write off the value of obsolete inventory, fixed assets, and uncollectable accounts provided that the book value of each asset does not exceed $10,000, and cash shortages provided that the amount does not exceed $1,000.

The Associate Vice President (Financial Services) is authorized to write off the value of obsolete inventories, fixed assets, uncollectable accounts, and cash shortages in excess of the authorized limits of the Director, Financial Reporting, Financial Services Division.

Procedure summary

Related Documents

There are no other documents associated with this policy.

Contact Information

Contact Person: Director, Financial Reporting, Financial Services Division
Phone: 306-966-8305
Website: www.usask.ca/fsd