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Policies and Procedures
The University Operations Manual provides the general guidelines for CAM procedures.
Responsibilities of Capital Assets Management
- Properly identify, record, and track all capital assets in the University's Asset Management System.
- Maintain accountability for federally-titled capital assets records and comply with Federal Office of Management and Budget property-related requirements for grants and awards to educational institutions, including:
- Assign asset ID number and serial-numbered tags to identify and track capital equipment inventory.
- Coordinate with external consultant and University departments to accurately and timely complete the physical inventory of moveable equipment and other tangible assets.
- Provide internal and external customers with timely capital assets and depreciation reporting.
- Reconcile the Asset Management subsystem to the General Ledger.
- Complete accurate and timely audit schedules and capital assets financial reports.
Responsibilities of University Departments
- Provide information requested at the time of new equipment purchase by completing asset information on the requisition (Preq).
- Notify CAM of any equipment obtained through other sources, such as gifts, transfers from other departments, equipment transferred to the university with new faculty members, and items which have been fabricated within a department that now meet the University definition of equipment (combined fabrication costs of item exceed $5,000).
- Identify asset, affix tag, and report to CAM the model, serial number, location, and custodian for each asset tagged.
- Locate and report to CAM, at least once every two years, all items of equipment assigned to the Department.
- Notify CAM of all changes in the status of equipment between biennial audits mentioned above. This includes, but is not limited to, assets stolen, lost, cannibalized, sent to University Surplus, changes in location and custodian, and tag replacements needed.