TERMS OF REFERENCE
Updating of the ILO Country Office Dar es salaam Inventory Records
Asset management is the process of making best use of an organisation’s properties in order to maximise shareholder value and to provide the best possible returns to other stakeholders in the organisation. All organisations have a range of assets. These include highly fixed assets, such as buildings and plant equipment, vehicles, furniture and fittings. It is important for a business to manage its assets and make them work to obtain the best possible returns. Ineffective asset management leads to wasted resources. It is in this regards, ILO Country Office Dar es salaam would like to update its Asset Register database (INI) and Asset trucking sheet to enable the office to monitor the acquisition and disposal of several pounds worth of its Office and Development Cooperation projects properties.
Project managers are responsible for taking due care of all Furniture and Equipment allocated to their project. They are expected to maintain physical inventory records, to conduct an annual physical count, to report the outcomes of that count, provide an associated statement of value of the Furniture and Equipment items concerned and to ensure that such items are eventually disposed of using the appropriate internal procedure. However, due to limitations of staff to access the building due to COVID pandemic, that could make the physical asset counts difficult or impossible. It is in this regards that technical expertise has been requested to support in updating of the existing Inventory Management system (INI) as required by the financial rules to provide updated information on the existing inventory, status and values for financial reporting purposes for 2022 Financial Year.
The purpose of assignment is as follows:
- To facilitate the physical control and security of these assets.
- To provide information and values for insurance and financial accounting purposes.
- To provide information on the existing inventory and current values for end of year financial reporting purposes.
- To facilitate 2022 Annual physical count report and provision of detailed statistical information e.g., Numbers, current location, etc.
The criteria for inclusion in the Asset Register database (INI) are as follows:
- All Land and Buildings are added to the Premises Register.
- All Vehicles financed by Regular budget.
- Equipment financed by Regular budget with a purchase price (exclusive of VAT) of $ 5,000 or more but may include items costing less where they are considered to be attractive and portable.
- Furniture and all moveable furniture financed by regular budget, with keys and locks
Due to the confidentiality of the financial information, the expert will work closely with the ILO Administration team, and they will not allow to take out of premises any task or information provided to them to implement their tasks. The office will provide equipment facilities and space to work on.
TASK TO BE PERFORMED
- To clear the old library space by sorting and packing all old publications, files, and papers in a library.
- Remove sorted publications, files, and papers and to the achieve room in a sequential manner.
- Physical counting of all the Inventory in ILO Country Office, Dar es salaam.
- Updating the existing Inventory listings as per the ILO Asset Management tracking sheet clearly indicating their status and the officer assigned.
- Ensure that all assets are assigned the ILO unique inventory tag number including the new assets.
- Updating and entering all project properties details into Asset Management tracking sheets regardless of purchasing price (See Annex A)
- Provide fair value (estimate value) of trackable assets without purchase values.
- Provide separate list of assets per location (Office) clearly indicating items that are in use / not in use and their current physical status.
- Remove assets in a sequency manner, especially those that are obsolete or not in use to the cleared location (Library).
- Assign and attach on the door Asset card to each office signed by the individual on that location
- Physical Inventory Report as at 31/11/2022
- List of Inventory per office
- Final report outlining findings and recommendations
This work will take place within one month from 01 November – 30 November 2022
REMUNERATION AND PAYMENT SCHEDULE:
The Consultant will be paid an all-inclusive amount on completion of the work to the satisfaction of the ILO.
The consultant should have a working experience in accounting and related career of at least two years. Knowledge on IPSAS Requirement as well as a previous experience in reviewing asset records and transactions of International Organizations, including UN Agencies and ILO, is an added advantage.
The below Link refers to the same TOR on the ILO website.
Proposal should be sent to [email protected] by latest 3rd November 2022.