Workflow Asset Addition Form

Submit this form when adding capitalized equipment (capitalization level of $5,000 and a useful life of more than one year) to the departmental inventory that requires a University of Iowa tag (see UI Policy Manual, Part V, Chapter 12). Examples include (but are not limited to):

• Capitalized equipment is found in the department, and belongs to the department, but doesn’t appear on an inventory report.
• Capitalized equipment is brought with a new faculty member joining the department.
• Capitalized equipment is donated to the department.
• Capitalized equipment is acquired from Government Agencies, etc. (and titled to the University of Iowa)

General Information

Do not use this form to add federal-titled equipment. To add equipment that is government-owned, use “Statement of Government-Owned Equipment Status” form.

If a University capital asset is located off campus, the Department should complete and retain a copy of the “Off-Campus Use of Property” form.

Instructions

For each asset to be added to the departmental inventory, enter the following:

• Department Contact: the person that can answer questions regarding the form
• Number of assets you are requesting to add
• Asset Description: enter a brief description of the item to be added (a noun with descriptive adjective(s))
• Serial # / Model # / PO #: enter any information that is known or available
• Location & Custodian: enter the building and room where the asset is located, and the name of the person responsible for the asset
• MFK: enter the accounting MFK codes for each asset. Do not enter IACT.
• Amount: enter the "Fair Market Value" (equal to $5,000 or greater) if the actual purchase price is not known
• Addition Source: Found during inventory, brought to University by a faculty member, gift from donor, etc
• Supporting Documentation: upload any applicable documentation

Questions? Please email Capital Assets Management