Contracts & Compliance

Property Department

Inventory management and accountability for Moveable Equipment requires the leadership of the Property Department and the support of Campus Deans, Department Heads, or Directors who work together in a coordinated effort to maintain asset management records and inventory control.

This combined commitment will ensure the success of our equipment inventory management program.

Property Management Responsibilities:

Moveable Equipment – a tangible item or Unit of equipment that is purchased, donated, leased or acquired through trade, is not permanently affixed to a building and that: a) is an entity unto itself (stands alone – must be externally visible; e.g. computer, microscope, audio visual equipment, etc.); b) has a life expectancy of two years or more and c) is not being held for resale.

Movable equipment with a per unit cost of $1,000 or greater, all computers regardless of cost, and capital furniture are recorded, tracked and subject to physical inventory. Moveable Equipment is:

  1.      Capital Equipment – Moveable equipment with a unit cost (or value) of $5000 or greater and is capitalized.
  2.     Non-Capital Equipment – Moveable equipment with a unit cost (or value) of $1000 -$4999.99 and all computers and weapons with a cost (or value) of $1 - $4999.99. This equipment is recorded in the AMS because it is considered sensitive and is deemed necessary to be inventoried because it may easily be converted to personal use and/or must be controlled to meet external reporting requirements.