Financial Administration

FAP - Accountability for Capital Equipment (F33) - Attachment A

FINANCIAL AND ADMINISTRATIVE POLICIES

ACCOUNTABILITY FOR CAPITAL EQUIPMENT   (F33) - ATTACHMENT A


INVENTORY SYSTEM INFORMATION REQUIREMENTS

Multiple campus systems are permitted, provided each system contains the data elements listed below and is able to calculate annual depreciation, accumulated depreciation and book value (cost less accumulated depreciation). Property owned by the federal government shall be identified to indicate federal ownership. Additional inventory requirements for capital equipment acquired with federal funds and federally-owned equipment are marked by an asterisk (*). Works of art should be inventoried but, provided certain criteria are met, need not be depreciated nor reported to System Administration for financial reporting purposes.

  • Equipment description and manufacturer's name

  • Serial number, model number, and UW inventory number

  • Location (building and user department and name of employe if assigned for use off UW premises)

  • Type of equipment (generally identified by first two digits of the commodity code)

  • Purchase order number

  • Acquisition date (fiscal year)

  • Acquisition cost or value

  • Source of funding (each appropriation, if multiple)

  • Insurance code (identifies "movable" [anything that leaves the building on a consistent basis] or "general contents")

  • Activity code (funding activity)

  • Unit-Division-Department-Subdepartment (UDDS) of funding department

  • Account number (if applicable)

  • Useful life

  • Holder of title if other than the UW
    *Source of equipment, including the award number
    *Percentage cost basis of purchase between federally funded vs. UW funded

Procedures should be in place to ensure that newly acquired capital equipment is promptly added to the inventory records and that capital equipment removed from use is promptly deleted from the inventory records. Location of capital equipment should be updated as changes occur to ensure that persons taking a physical inventory are able to easily locate all items listed on the inventory system.


FAP - Accountability for Capital Equipment (F33) | Financial and Administrative Policy Index | Financial Administration


UWSA Logo
This information is provided as a service of The University of Wisconsin System Administration
Office of Financial Administration.
To suggest possible additions or improvements, please contact Financial Administration  (608) 262-1313


Last Edited: 08/17/2001