麻豆视频

Asset tags ensure that assets are easily identifiable, which aids in inventory management, maintenance scheduling, and financial reporting. It is crucial for assets within the university to be tagged as it helps ensure accurate tracking and reporting of assets.

Asset Tag Types

Asset tags are unique number identifiers attached to equipment and other assets. They come in two forms, non-federal and federal. Note that federal tags have the FAIN number listed just below the Perm Tag #.

Non-Federal Asset Tag - Asset purchased with Non-Federal funds:

Federal Asset Tag - Asset purchased with Federal funds:

The Perm Tag # is the unique number assigned by Property Control and printed on the asset tag. Property Control or Accounting may reference the term, Perm Tag # in cases where research is needed to learn about an asset. In this example: 159367 is the perm tag# printed on the asset tag.

Capital Asset Equipment must meet a threshold of $5,000 or more. In certain cases, equipment may consist of components that together form a single integrated machine or device. For instance, a microscope can be considered the main asset, while attachments such as lenses, stands, and illumination systems are regarded as components. These component assets, although individually cost less than the threshold, are essential for placing the main asset into service.

Componentization involves a hierarchical relationship where a main asset includes several components. Each component is treated as a separate asset for inventory purposes but is related to the main asset, as these component assets are essential for placing the main asset into service. This approach helps universities manage their equipment more precisely, ensuring each component is tracked and depreciated according to its actual usage and lifespan.

In the example below, the main asset is the microscope with Perm Tag # 157512 and the components are identified with Perm Tag #鈥檚 that have the same six beginning digits but end with 001, 002 etc.

麻豆视频 has recently refined its approach to recognizing capital asset components. Previously, many accessories necessary for placing a main asset into service were classified as components. Through time, this resulted in a longer list of items to inventory. Our hope is that by applying our new method for components, over time your dept list of assets will be smaller.

Our Refined Method for Componentization: Should accessories be added to the main asset cost or componentized? That depends:

Accessories <$5,000 not directly related to main assets are considered general expenses and should not be componentized or added to the main asset cost.

However, accessories <$5,000 directly related may be added to main asset cost if they are needed for assets to be placed in service and cannot be used on another device.

Accessories or related Equipment >$5,000 may be component of the parent asset if:

• Useful life is different than parent
• Is not permanently part of parent

These are components or accessories of the main asset. In the example below the main asset is 158995, Intraoral Scanner and the components are 158995001 Milling Machine and 158995002 Suction Unit. See questions #3 & #4.

Disposing of a capital asset means removing it from the university鈥檚 records, typically because it is no longer useful, has been sold, or has been retired. This process involves updating the asset inventory and financial records to reflect the asset's removal. WSU Property Control must be notified of any intent to dispose of capital assets before any action is taken. You can learn more about disposals here.

During physical inventory of capital assets, it is crucial to disclose any assets that are missing or have been relocated/disposed of.

1. Recycled 鈥� E-waste for equipment that is electronic and require special disposal treatment.
2. Cannibalized for Parts 鈥� Asset was dismantled for parts and no longer can be used for its intended purpose.
3. Hauled to Dump 鈥� Asset was being sent to a landfill.
4. Returned 鈥� Asset was returned to the manufacturer/retailer from where it was purchased.
5. Sold 鈥� Asset was sold via auction, etc.
6. Lost 鈥� Asset cannot be found and there is no record of theft occurring.
7. Stolen 鈥� Asset was stolen and reported with a police report, to Property Control.

If you have capital assets that are not on your inventory list, you can report them in the 鈥淎ssets Not Listed鈥� spreadsheet included with your inventory list. Property Control will follow up with you for details. If you are unsure if an asset is considered capital, you can reach out to Property Control for assistance. To report a capital asset in your possession and not on your inventory list, please first consider the following:

1. Does the asset have an asset tag? This is the first sign that it is a capital asset.
2. Does the asset have a cost of $5,000 or more? This can be determined by the PO or invoice from the purchase of the asset.
3. Does the asset have a serial number? Property Control can use the serial number to research the asset in our records.
4. Does your organization keep any departmental records? These records may assist you and Property Control in determining if the assets located are capital and how they should be handled.
5. Does the asset belong to your organization/location? It could be possible that the asset did not get appropriately transferred upon a recent departmental move. Property Control will work with you to facilitate the asset transfer.

If it is determined that the asset is capital and that the asset belongs to your organization/location, Property Control will update the asset record. If it is determined that the asset is capital and that the asset does not belong to your organization/location, Property Control will work with you to facilitate the asset transfer.

The Responsible Organization is accountable for the asset's safety, storage, location, tracking, custodian assignment, and equipment manager assignment. Additionally, the Responsible Organization must complete the annual inventory for assets assigned to it and assist Property Control in auditing the inventory when required. The responsible org may differ from the purchasing org.

This is typically the organization leader(s) that will assign asset custodianship within their responsible organization.

A Custodian is an individual responsible for safekeeping, asset tagging, maintenance, and usage management for the asset. They have been assigned the capital asset by an Equipment Manager.

Any data that is important to the treatment, safekeeping, assignment, and usage of the capital asset must be disclosed to Property Control. Therefore, is it good practice for a responsible org to determine who will be the Equipment Manager for its organization/location. The Equipment Manager should delegate who the Custodian will be for each capital asset. It is understandable if the Equipment Manager and Custodian are the same responsible individual if it has been determined by the responsible org.

As pictured below, a Responsible Org can have any number of Equipment Managers and Custodians. When a new asset is placed in service, the Equipment Manager will assign a custodian for safekeeping, maintenance, and usage management for the asset. 

In the context of universities, intangible assets are non-physical assets that hold value, such as intellectual property, brand reputation, academic programs, human capital, software, and collaborative networks. Unless intangible assets exceed $250,000 鈥� they are not considered capital and are not included in capital asset inventory. Intangible Assets should only be considered capital in the following circumstances:

Description	Capitalization Threshold
Intangible 鈥� Software	$250,000
Intangible - Other	$250,000