1844=Fed Owned Equipment 8240=Federal Funded Equipment 8245=Capital Equipment Fed Owned 4419=Gain Capital Assets 9011=Equip Acquisitions Creating a Transferred in Asset Information the Property Management Office will need to create the assets: account number quantity vendor manufacturer description serial number original acquisition date, original cost, and fair market value date equipment was received by CSU campus, building and room responsible person NON-CAPITAL ASSETS Non-capital assets may be added to CAM using the Asset Global (Add) document. These transactions do not create accounting entries. Non-capital assets are identified in the university asset database using the Asset Status Code of “N” for non-capital active or “O” for non-capital retired. Non-capital assets do not have the same data requirements as capital equipment. Any item costing less than the capital asset threshold may be added as non-capital equipment. Individual departments on campus may choose to use CAM to keep track of any of their non-capital assets. They can do so by obtaining decals for the assets from the designated non-capital range 9xxxxx, and by creating asset records for them in CAM. For example, many high-theft items will cost less than $5,000 and therefore not be tracked as a capital asset in CAM. But the departments may still want to monitor such assets since they are smaller in size and may be checked out by various members of the dept. The edit, loan, merge, and separate functions are available on non-capital assets. FABRICATIONS Equipment and models are frequently fabricated by CSU, and the majority of these are funded by research grants in a 53 account. We also see Software projects that are developed in-house, that will fall under this umbrella. A new work-in-process account in the WIP sub-fund group will be set up to record expenses for these projects. The WIP accounts are a Project-To-Date account which means you can track revenues and expenses across multiple years. Once the equipment or model is completed, the total costs will be transferred into the appropriate 8xxx equipment object code on the funding account. This generates the capitalization entry and creates the asset record, and depreciation will begin. Since the purchase of equipment or models is not subject to F&A costs, fabrication is also exempt from these charges.
When selling equipment at auction the buyer’s name and the sale price must be provided. Retirement Reasons: Code Reason Description 1 Sold University-owned equipment may be offered for sale by the campus Surplus Department, or the organization may sell the equipment with the permission of their campus Surplus Department. Surplus will still need to submit the retirement doc. The name of the buyer and selling price is required on the asset retirement document. 2 Trade-in The organization retires equipment that was traded in on a new purchase. The retirement should be issued when the vendor takes the equipment. A note should be included on the retirement document identifying the purchase order number for the new equipment. 3 Lost Equipment should only be retired using this code after every effort has been made to locate the equipment. The department should include a note on the document summarizing the efforts made to locate the asset and what will be done to ensure asset are not lost in the future. The department head will need to approve this retirement. 4 Recycled Once sensitive data has been removed, Surplus will retire an asset that is being recycled as scrap. 5 Cannibalized Parts of the equipment have been used to upgrade or repair other equipment. Surplus will still need to submit the retirement doc. The asset must first be transferred to Surplus via an asset edit doc. 6 Gift Equipment given to an external institution or organization. Authorization from the campus Surplus Department must be obtained before making a gift of equipment. 7 Theft Theft of capital equipment must be immediately reported to the campus Police Department. The police case number is required on the asset retirement document. 8 Destroyed Equipment that is damaged beyond repair and has been disposed of by the organization. Surplus or the Property Management department will need to submit the retirement doc. 9 External Transfer Retirement documents must be processed for equipment going to another university or nonprofit organization. Additional retirement reasons used exclusively by the Property Management Office Code Reason Description 0 Credit The University Capital Asset Office must retire equipment returned to the vendor, which results in the organization receiving a credit or refund. C Check Canceled This retirement reason identifies assets that were created but were cancelled later. E Asset Created in Error This retirement reason is used exclusively by the Property Management Office to retire assets created in error. H Retirement of Control Assets This retirement reason is used exclusively by the Property Management Office to retire control assets. J General Error Correction The Property Management Office uses this code exclusively to indicate those assets retired by a general error correction process.