Policy bulletin 535

Number: 535
In Effect: 2016-05-16

• FINANCIAL DIRECTIVE (FD) 350-1 – Asset Management

The FD 350-1 – Asset Management was revised to further streamline and clarify procedures, responsibilities, and requirements.

Several modifications have been made. These include:

• updates to roles and responsibilities, including the addition of Site Asset Coordinators and Regional Finance
• clarification has been provided for the role of the Offices of Primary Interest (OPIs) in regards to managing specific asset classes
• addition of requirements and timeframes for budget managers regarding requests for the creation or changes to asset record(s) in the applicable asset management system
• clarification has been provided for procedures in regards to certain asset classes (including security equipment, fleet, and real property)
• revision of the listing of assets that must be tracked in the applicable asset management system regardless of value (under $10K)
• new definitions have been added
• new sections regarding training requirements and consequences have been added
• the Annex on Attractive Items has been replaced by newly published CMS-INST-2015-019 Attractive Items Guidelines. These guidelines provide details for making the determination of attractive items, procedures and requirements for assets valued under $10K, and support the FD 350-1.

The FD was revised by the Contracting and Materiel Services Directorate in consultation with Regional and NHQ stakeholders, Regional Managers, OPIs, and Finance personnel.

Roles and responsibilities are detailed in the FD.

CSC staff responsible for and/or involved in the management of assets and inventories.

For more information

• Government-wide Forward Regulatory Plans
• The Cabinet Directive on Regulatory
• The Federal regulatory management
• The Canada–United States Regulatory Cooperation Council

To learn about upcoming or ongoing consultations on proposed federal regulations, visit the Canada Gazette and Consulting with Canadians websites.