Equipment Management establishes procedures for the management and control of all inventorial equipment under the care and custody of the regents.
"Equipment" are all items meeting the following criteria, and must be tracked by the university's property and financial systems:
- Are non-expendable
- Stand alone
- Have a normal useful life of one year or more
- Qualify as tangible personal property with an acquisition cost of $5000 or more (includes gifts and transfers of equipment at this value)
- Note that firearms, government property, certain "theft-sensitive" items, and vehicles registered with the DMV must be recorded and tracked, regardless of cost
Physical Inventories Due October 31st!
Cycle 1 Inventory Certifications are due on October 31, 2015. To determine if your department must complete a physical inventory of equipment this year:
- Log in to KFS
- On the Main Menu, in the Capital Asset Management System section, click on the Asset Custodial Code link.
- Enter your department Custodial Code (cost center) in the first field, OR enter part of your department name (with the * wildcard before and after your search text) in the Custodial Description field. Or, use other search fields as desired.
- Click Search.
- In the search results, any custodial codes with an Inventory Cycle Type Code of 01 are due on 10/31/15.