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NUST fails to maintain asset register

by Staff reporter
24 Aug 2017 at 06:49hrs | Views
THE National University of Science and Technology's asset register is in shambles, putting the university's property at risk of theft and abuse.

The Nust 2016 Vice-Chancellor's report on internal audit says there is an urgent need for the university to finalise its asset management policy. The university, whose mandate is to lead in technology and innovations, is still operating with a manual asset database which the institution's internal auditors said should be swiftly computerised.

"There was need for the Bursar's department to finalise the asset management policy document that was crafted in 2009 and redrafted in 2013. The absence of the aforementioned policy creates discord in the governance of the university assets," reads the report.

"Use of manual assets tags should be discontinued and be replaced by a permanent and reliable system as the paint used was easily erased and the current tagging process was time consuming. The maintenance of asset registers by departments and sections should be enforced as the practice was inconsistent."

Although not detailing its major findings, the report said there is a need for improvements in the audited areas. The report said auditors had challenges accessing data as some people were not forthcoming with required documents.

Meanwhile, the report on the Physical Planning, Works and Estate Department stated that funding challenges have stalled Nust construction projects.

"Funding for infrastructural projects has not been forthcoming for a while. This has seen stagnation of various construction projects around campus. Maintenance work has virtually been limited to corrective maintenance due to inadequate funding. This has resulted in minimal or no planned maintenance of the university properties," reads the report.

"It is the department's wish to construct more buildings that will ease pressure on teaching, learning and residential space. Joint venture partnerships have been identified as a more suitable tool in this regard."

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