Capitalized Assets and Surplus

What assets meet the university's definition of capitalized equipment?

See Equipment Definition within the Policy Library for answer.

Is the Inventory Control Office to be notified of equipment obtained through sources other than the Procurement Services, such as donations/gifts, transfers in from other institutions, when equipment is furnished or loaned to the university by the federal government for periods longer than six months, or fabricated items that meet the university's equipment definition?

Ideal answer: Yes. See Alternative Acquisition Methods within the Policy Library for information.

Are departments required to conduct a complete physical inventory of capitalized equipment? Should the Inventory Control Office and the Department of Public Safety be contacted if university property is stolen, damaged, or missing?

Ideal answers: Yes. See Physical Equipment Inventory within the Policy Library for information.

When an asset (capitalized or non-capitalized) has been identified for disposal, should ISU Surplus be contacted?

Ideal answer: Yes. See Equipment Disposal within the Policy Library for information.