Because updating capability is determined by an individual's access level, confidentiality of records is maintained. Finally, one person in each department has been designated as the property administrator for that department. This local access improves the accuracy of information recorded in the system and reduces the need for separate departmental tracking systems. Departmental users can track property by the custodian's name, thereby improving the tracking of property if the custodian leaves the University. Departmental users can flag property items as surplus, thereby facilitating the distribution of such items throughout the University.
Departmental users can generate customized reports about property in their departments or centers.
Not only can a property administrator request a report of all items in a particular department, but he or she can tailor the report request to include only items with a particular set of specifications, such as acquisition cost or acquisition date ranges, custodian, or asset category code. These reports may also be generated by such categories as building, account number, or purchase order number. The University can more easily provide insurance carriers with information for replacement when equipment is damaged or stolen. The University can calculate depreciation of its assets more accurately and recover their cost over a shorter period of time. When government property is audited, these system features help to ensure that property is being managed appropriately.