Asset Management is the part of Surplus Property/Procurement Services that is responsible for the coordination of a physical inventory of all capital equipment, and for the campus reporting of such. Asset Management/Inventory Control adds equipment to the capital inventory database by reviewing purchase orders and equipment gift documents.
The Asset Management Specialist supports all four campuses in identifying and tagging capital equipment purchased by the University, while also overseeing the annual Physical Inventory process that all department fiscal officers perform every year.
UM Policy 24007-Inventory of Moveable Property & Equipment
How are Capital Equipment Assets added to my department's inventory
Who owns Capital assets
Required Inventory Records
Responsibilities
Depreciation
Reporting Changes
Verifying Inventory Records
What is a Capital Equipment Asset
A Capital Equipment Assets is a moveable, self-contained piece of equipment that has a lifespan of at least one year.
Policy #22401 - Capital Assets
How are Capital Equipment Assets added to my department's inventory?
When your department purchases a piece of equipment using a Capital Equipment account (77XXXX) for over $5000.00, an employee from the Asset Management department will contact the Requestor on the purchase order to appropriately tag