Physical Assets

This area includes policies related to equipment inventory and property management.

The University equipment inventory and property management policy is intended to illustrate the requisite procedures for the physical control, maintenance, and security of capital equipment.  University capital equipment is defined as moveable equipment with an original cost of greater than $5,000 with a useful life of one year or more.  It is important to note that capital equipment previously purchased under the current $5,000 capitalization remains on University records thereby requiring departments to follow current prescribed inventory management procedures until disposal of equipment. 

When appropriate, the Equipment Transfer/Disposal and Sign-Out for Equipment Removed from University Premises inventory forms need to be completed and submitted to University Accounting - Property Management.  Custodial responsibility for University capital equipment rests with provosts, vice presidents, deans, directors or department heads to whom property is assigned.  Please refer to University Policy 40.2.10 - Equipment Inventory and Property Management for direction regarding inventory management; and University Policy 20.1.12 - Surplus Property for reporting procedures.

Please see the presentation from DGCA that provides helpful tips specific to Equipment Management.